Guangdong Securities Regulatory Bureau ordered Fenghua Hi-Tech to make corrections, give a warning and impose a fine of 400,000 yuan. At the same time, the company 18 cadres were punished accordingly and fined 380,000 yuan.
Previously, Fenghua Hi-Tech had a daily limit of three consecutive trading days under the aura of Huawei concept stocks, but recently the company's share price fell, including a 6% drop on August 28.
It is worth noting that this sudden huge thunder is not without warning. Since the annual report of 20 17 company was difficult to produce, this former MLCC company began to fall from the altar.
On August 7, 20 18, Fenghua Hi-Tech received the notice of investigation from the CSRC. Subsequently, Fenghua Hi-Tech made many risk warnings, and the company's top management also ushered in a major reshuffle. Most of the executives listed by the CSRC left the listed companies after 20 16.
Financial false announcement
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According to public information, Fenghua Hi-Tech is a state-owned listed company located in Zhaoqing City, Guangdong Province. The actual controller is the State-owned Assets Supervision and Administration Commission of Guangdong Provincial People's Government, which was listed on the main board of Shenzhen on 1996. As an important manufacturer of electronic components, its main electronic components include MLCC, resistors, inductors, semiconductor components and thin film integrated circuits.
Its core product MLCC resistor and capacitor projects are all supplied to Huawei, and it is an important semiconductor supplier in China. 20 19 In the first half of the year, Fenghua Hi-Tech ranked 1 1 among the top 100 electronic components enterprises, and realized operating income of16140,000, down 22.44% year-on-year. Realized a net profit of 298 million.
This important MLCC supplier of the 5G industrial chain suffered from state-owned tooth decay.
According to the data, there are false records in the company's accounts receivable and annual report data, with the purpose of whitewashing the statements.
First, through a series of related party transactions and secret transactions, the irrecoverable accounts receivable are filled with self-owned funds.
Fenghua Hi-Tech purchases electronic products from ZOJE Communication Co., Ltd., and then to Guangdong Xinyu Financial Information Technology Co., Ltd. (hereinafter referred to as Guangdong Xinyu), Guangzhou Yali Electronics Co., Ltd. (hereinafter referred to as Guangzhou Yali), Guangzhou Tianhe High-tech Industrial Development Zone Huali Technology Development Co., Ltd. (hereinafter referred to as Guangzhou Huali) and Guangzhou Xinde Electronics Co., Ltd. (hereinafter referred to as Guangzhou Xinde).
However, since the second half of 20 14, the above four companies have been unable to pay futures payments to Fenghua Hi-Tech (including Zhaoqing Fenghua Electromechanical Import and Export Co., Ltd., a subsidiary of Fenghua Hi-Tech, which specifically handles some related businesses).