China Merchants Securities announced on Friday (August 12) that the China Securities Supervision and Administration Commission (referred to as the "CSRC") notification was received on August 12.It was investigated that in 2014, China Merchants Securities launched Shanghai Feile Co., Ltd. (now Zhong'anke Co., Ltd., referred to as "ST Zhongan") independent financial advisory business work.The CSRC decided to make a case on China Merchants Securities.China Merchants Securities stated that it will fully cooperate with the relevant work of the CSRC, and at the same time, it will strictly follow the supervision requirements to perform the information disclosure obligations, and the company's operating situation is normal.
According to the surging news report, on February 14, 2014, the board of directors of Shanghai Feile Co., Ltd. ("Feile Co., Ltd.") reviewed and passed the major assets of Shanghai Feile Co., Ltd. to sell and issue shares to purchaseAssets and raised supporting funds and related transaction plans.China Merchants Securities accepted the commission of Feile and served as an independent financial adviser to the major asset reorganization. It provided independent opinions to all shareholders of Feile's shareholders on the transaction.In May 2019, the Securities Regulatory Commission made an administrative penalty decision on seven responsible persons including ST Zhongan.
After investigation, Zhongan Cool Technology Co., Ltd. will include the "Banban Tong" project into the 2014 profit forecast report. When the project has undergone major changes, it is difficult to continue to perform.The information provided to ST Zhongan is not true and inaccurate, and there are misleading statements, resulting in a serious increase in the evaluation value of the reorganization assets. According to this, the shares of the evaluation value of the assessment value are seriously damaged, which seriously damages the legal legal of listed companies and its shareholders.rights and interests.Subsequently, in July 2019, ST Zhongan announced that the company received a notice of responding to civil lawsuits and related legal documents from the Shanghai Financial Court from June 27, 2019 to July 11, 2019.According to the notice of responding, the court has accepted 33 originals that the company's false statement of securities was reported.
By May 2021, the results of the lawsuit disclosed by ST Zhongan showed that the loss of 228,000 yuan in the loss of two investors involved in the case of ST (RMB, the same below, about 46,400 yuan), China Merchants Securities and Ruihua Certified Public Accountants (special common partnerships) must bear joint responsibility for the payment obligations of ST Zhongan within 25%and 15%, respectively.
It is worth noting that China Merchants Securities and Ruihua Accountants (special common partnerships) appealed to the Shanghai Higher People's Court ("Shanghai High Court") on the first trial.However, the Shanghai High Court believes that the professional opinions of China Merchants Securities in the report of the financial consultant report are obviously inconsistent with the facts.Some of the contents of the financial advisory report have misleading statements.For investors' losses, China Merchants Securities shall bear liability for compensation in accordance with the law.
China Merchants Securities 2021 Annual Report shows that some investors in ST Zhongan have filed a lawsuit on the Shanghai Financial Court for civil compensation for the loss of related investment due to the false statement of the securities.Related intermediary agencies and other liability for compensation.
On May 18, 2021, the Shanghai Higher People's Court made a second trial judgment on demonstration cases, ordered the loss of 228,000 yuan to pay 228,000 yuan to China Securities' needs to pay 228,000 investors to China Securities.Undertake the liability for compensation within %.According to the 2021 annual report, as of March 25, 2022, in addition to two investors in the demonstration case, China Merchants Securities received a total of 4071 investors' prosecution materials and response notices from the Shanghai Financial Court.Among them, the Shanghai Financial Court has made a first -instance judgment on the case involved in 3,630 investors, and the decision ordered the company to bear the liability for the loss of 459.6293 million yuan to the investor's loss to investors.
At present, ST Zhongan Securities' false statement of responsibility disputes has not yet been judged.According to the progress of the lawsuit disclosed by ST Zhongan on July 14, the company's securities false statement of responsibility disputes related litigation period related litigation period expired on May 27, 2022.As of the announcement date, the company has accepted the total of 6,480 cases of the relevant original statement of the false statement of the company's securities false statements in the case of the case of the case.
On August 9 this year, the official website of the Shenzhen Securities Regulatory Bureau also disclosed the decision on taking a warning letter to China Merchants Securities.
After investigation, China Merchants Securities has three major problems in the process of investment banking business: First, sponsor business, some projects confirmation, core technologies, and research and development expenses of the issuer will not be investigated.full.
Second, in the bond underwriting business, individual projects have due diligences such as the debt situation of individual projects to the issuer's debt, external guarantee, debt repayment capacity, affiliated transaction conditions, major arbitration, litigation and other major matters and other major matters.insufficient.
Third, in the asset securitization business, individual projects are not sufficient to perform due diligence in the credit level of the original rights and the custodian;The inspection of basic asset cash flow supervision and inspection was not in place, no major matters involving basic asset cash flow were found and temporarily announced.
In addition, on March 14 and May 16, China Merchants Securities had two systemic abnormalities, and they were also taken by the Shenzhen Securities Regulatory Bureau to order correction measures and adopted administrative supervision measures with a warning letter by the Securities Regulatory Commission.Essence
As of the close of August 12, China Merchants Securities A shares fell 0.22%to 13.84 yuan per share; H shares rose 0.8%to HK $ 7.52 per share.
