Recently, Yajin Technology (830806.NQ) disclosed an announcement on the company's receipt of a decision on administrative supervision measures from the Ningbo Supervision Bureau of the China Securities Regulatory Commission.After investigation, on April 20, 2017, Ningbo Yajin Electronic Technology Co., Ltd. ("Yajin Technology", 830806), the former actual controller, then chairman and general manager of Jiao Shuge, controlled the enterprise RISING PHOENIX INVESTMENTS LIMITED (hereinafter referred to as RISING) and Bank of China Co., Ltd. Nanping Branch (hereinafter referred to as Nanping Bank of China) signed the "General Agreement on Credit Granting Business", stipulating that Nanping Bank of China will provide RISING with bank credit of no more than US$500 million.On May 17, 2017, Nanping Bank of China provided RISING with a total of US$500 million in loans.
On November 22, 2017, Yajin Technology and Nanping Bank of China signed the "Pledge Contract", which stipulated that the 14% equity of Fujian Nanping Nanfu Battery Co., Ltd. (hereinafter referred to as Nanfu Battery) held by Yajin Technology will be the responsibility of Nanping Bank of China to RISING. The loan of more than 500 million US dollars provided will be guaranteed, and the registration procedures for the establishment of equity pledge will be completed on the same day.On August 16, 2018, Yajin Technology and Nanping Bank of China signed the "Maximum Pledge Contract Modification Agreement", which agreed to change the pledge to Yajin Technology's 22.183% equity in Nanfu Battery, which was processed on August 17, 2018. Equity pledge registration procedures.
RISING was the indirect overseas parent company of Ningbo Yafeng Electric Co., Ltd., the controlling shareholder of Yajin Technology at that time. However, when the above guarantees and related transactions occurred, Yajin Technology failed to perform the corresponding review procedures and information disclosure obligations in a timely manner as required.Du Jinglei, as the director, secretary of the board of directors and (executive) deputy general manager of Yajin Technology at the time, failed to perform his duties faithfully and diligently, and was responsible for the above-mentioned violations of Yajin Technology.
On October 22, 2021, Yajin Technology convened the board of directors to review and approve and disclose the "Proposal on the non-recognition of the matter of providing a guarantee for the related parties of the controlling shareholder with the 22.183% equity of Fujian Nanping Nanfu Battery Co., Ltd. held by the company". ".On January 10, 2022, the above-mentioned 22.183% equity interest in Nanfu Battery was subject to the cancellation of the equity pledge, and the related guarantee was released.
The above-mentioned actions of Yajin Technology and relevant responsible persons violated Articles 14 and 21 of the Measures for the Supervision and Administration of Unlisted Public Companies (Order No. 161 of the China Securities Regulatory Commission) and the Measures for the Administration of Information Disclosure of Unlisted Public Companies (Order No. 162 of the CSRC) the relevant provisions of Article 5, Article 25 and Article 42.
According to the relevant provisions of Articles 77 and 83 of the Measures for the Supervision and Administration of Unlisted Public Companies and Article 49 of the Measures for the Administration of Information Disclosure of Unlisted Public Companies, Ningbo Securities Regulatory Bureau Take administrative supervision measures to issue warning letters and record them in integrity files.Yajin Technology should earnestly learn lessons, improve the awareness of standardized operation, and ensure timely fulfillment of information disclosure obligations.Yajin Technology shall submit a rectification report to Ningbo Securities Regulatory Bureau within 30 days after receiving the decision.
The main business of Ningbo Yajin Electronic Technology Co., Ltd. is the research and development, production and sales of batteries.The main products and services are alkaline batteries and carbon batteries.In 2021, it will be selected as the "unicorn" in the field of digital economy in Fujian Province in 2021.
As of June 2021, Ningbo Yafeng Electric Co., Ltd. is the largest tradable shareholder of Yajin Technology, holding a total of 2.64 billion shares, accounting for 70.39% of the tradable shares.
