China-Singapore Jingwei, July 12. According to the official WeChat account of the Beijing Stock Exchange on the 12th, the Beijing Stock Exchange imposed disciplinary sanctions on a listed company for the first time.
The Beijing Stock Exchange pointed out that recently, Yunnan Bio Valley Pharmaceutical Co., Ltd. (hereinafter referred to as Bio Valley), a listed company on the Beijing Stock Exchange, has violated regulations such as capital occupation and non-disclosure of major events. The specific circumstances are: August 2021 to March 2022. In June, Shenzhen Jinshajiang Investment Co., Ltd. (hereinafter referred to as "Jinshajiang"), the controlling shareholder of Bio Valley, occupied a total of 356 million yuan of Bio Valley funds by way of endorsement of bank acceptance bills by listed companies to third parties and entrusting third-party financial management, with the highest daily occupancy. The balance was 277 million yuan.
On November 5, 2021, the accumulated wealth management amount entrusted by Bio Valley to Yinfengtai Fund Management Co., Ltd. met the information disclosure requirements. Bio Valley failed to perform its information disclosure obligations in a timely manner as required, and subsequent purchases of wealth management behavior were not disclosed.
In response to the aforementioned facts of capital occupation, Jinshajiang and its actual controller, Lin Yanhe, promised that Jinshajiang would return all the occupied funds and capital income before June 30, 2022, and Lin Yanhe, the actual controller, promised to provide joint and several liability guarantees until 2022. On June 30, the above commitment to return the funds was not fully fulfilled.
The Beijing Stock Exchange stated that regarding the aforementioned violations of Bio Valley, the sponsor and sponsor representatives failed to effectively urge the company to establish a sound and effective information disclosure system and fulfill its information disclosure obligations during the continuous supervision period, and failed to report major issues to the Beijing Stock Exchange in a timely manner. The company also issued a risk warning announcement, issued a verification report that was untrue and inaccurate, and failed to faithfully and diligently perform its continuous supervision duties.
The Beijing Stock Exchange took the above-mentioned violations seriously, and gave the controlling shareholder Jinsha Jiang and the company's actual controller, the then chairman and general manager Lin Yanhe disciplinary sanctions of public condemnation; congratulations to Bio Valley and the then chief financial officer and secretary of the board of directors. Yuan notified the disciplinary action for criticism; gave sponsor representatives Liang Liqun and Zhang Jian the disciplinary action for the criticism, and took self-regulatory measures of issuing warning letters to Huarong Securities Co., Ltd.
The Beijing Stock Exchange emphasized that it will resolutely implement the policy of "establishing a system, non-intervention, and zero tolerance", continue to strengthen self-discipline supervision, earnestly and strictly enforce market discipline, consolidate the responsibilities of intermediaries, and strive to create an honest and standardized market environment, so as to build a high-quality Beijing Stock Exchange. And comprehensively deepen the reform of the new third board "escort".
Bio Valley announced on the evening of the 12th that this disciplinary action will not have a significant adverse impact on the company's production, operation and finances, and there is no risk of being terminated from listing due to this punishment/treatment.
Bio Valley also stated that in order to further effectively solve the issue of Jinsha River's capital occupation, protect the legitimate rights and interests of all shareholders of the company, and complete the recovery of the remaining occupied funds of 257 million yuan and the corresponding income as soon as possible, the company plans to take the following measures: 1. Supervise Jinsha River and Lin Yanhe implemented a plan to solve the problem of capital occupation.2. The company will further maintain communication with Jinshajiang and Lin Yanhe, and carry out work around the solution to the problem of capital occupation.
On May 25, Bio Valley announced that the company's controlling shareholder Shenzhen Jinshajiang Investment Co., Ltd. and its actual controller, Lin Yanhe, were placed on file for investigation due to suspected violations of laws and regulations in information disclosure.It is reported that this is the first investigation since the opening of the Beijing Stock Exchange.
Sino-Singapore Jingwei noticed that since July, many directors, supervisors and senior officials of Bio Valley have resigned one after another.On July 1, Bio Valley announced that it received a resignation report submitted by the secretary of the board of directors and financial director He Yuan on June 29, and the resignation will take effect from June 30, 2022.
On July 8, Bio Valley announced that due to personal reasons, directors Tan Xiangfang, Gao Nianwu, Lai Xiaofei and supervisor Wu Yufeng resigned; because the major shareholder illegally occupied Bio Valley funds and could not return it during the commitment period, independent director Wang Jinben resigned.Bio Valley stated that the resignation caused the number of members of the company's board of directors to be lower than the legal minimum number, and the number of members of the company's supervisory committee to be lower than the legal minimum number. The number of directors serving as senior executives and directors serving as employee representatives exceeds one-half of the total number of directors of the company.
According to the information on the official website of Bio Valley, Bio Valley Pharmaceutical is a high-tech pharmaceutical enterprise integrating the research, development, production and sales of Dengzhanhua series drugs.The company was established in June 1999, listed on the New Third Board in August 2015, entered the innovation layer in June 2016, entered the selection layer in July 2020, and became the first batch of listed companies on the Beijing Stock Exchange in November 2021.
As of the close on July 12, Bio Valley fell 1.65% to 8.32 yuan, down more than 65% from the historical high of 24 yuan.(Sino-Singapore Jingwei APP)
