ST Communications (600289.SH) issued an announcement. The company received the Heilongjiang Securities Regulatory Commission on November 17, 2023...
According to the Zhitong Finance App, ST Telecom (600289.SH) issued an announcement. The company received the “Decision on Administrative Supervision Measures” ([2023] No. 18) issued by the Heilongjiang Securities Regulatory Bureau on November 17, 2023, and the decision of the Heilongjiang Securities Regulatory Bureau to issue warning letters to the company's relevant responsible personnel.
After investigation, from February to August 2022, Yiyang ICT had a cumulative plan of transferring 49.6 million yuan to Shenyang Zhaoqi Technology Co., Ltd. and Dandong Lvshui Agriculture and Animal Husbandry Co., Ltd. without a real business background. The above funds were eventually used by enterprises controlled by Wang Wenfeng, the actual controller of the company, and were not fully returned until April 2023. The above matters constituted non-operating capital consumption by related parties, and the company failed to fulfill related transaction review procedures and information disclosure obligations in accordance with regulations.
The above acts violate the provisions of section 3, section 4, and section 41 of the “Administrative Measures on Information Disclosure of Listed Companies” (CSRC Order No. 182) and sections 3 and 5 of the “Supervision Guidelines for Listed Companies No. 8 - Supervision Requirements for Capital Exchanges and External Guarantees of Listed Companies” (Securities Regulatory Commission Notice [2022] No. 26). As the actual controller of Yiyang ICT, Wang Wenfeng concealed the relevant relationship and dominated the occurrence of the above related transactions. Yuan Yixiang, as the chairman of Yiyang ICT, Cao Xing, as the president of Yiyang ICT, and Qi Yong, as the then financial director of Yiyang ICT, did not perform his duties faithfully and diligently, and was mainly responsible for these irregularities. The Heilongjiang Securities Regulatory Bureau decided to take administrative supervision measures for Yiyang Xintong, Wang Wenfeng, Yuan Yixiang, Cao Xing, and Qi Yong by issuing separate warning letters, and record them in the securities and futures market integrity file.