After being investigated by the SECURITIES Regulatory Commission, The market value of Jiangte Electric Machinery lost more than 10 billion yuan, and investors may face claims

2022-07-09 0 By

Radar article of finance and economics make up | | long sail sea on January 26, jiang motors shares remained weak, finally closed at 17.13 yuan, down 1.21%.At this point, Jiangte Electric motor has fallen 28.45% and its market value has evaporated 11.618 billion yuan since it was placed under investigation by the CSRC.As a result of the lithium concept, jiangte motor increased by more than 17 times from June 2020 to September 2021.As of September 30, 2021, the number of shareholders holding the stock was 209,590, according to the third quarter 2021 report.On December 9, 2021, JTEC Electric Received the Notice of Filing from China Securities Regulatory Commission (NO. 0252021009). China Securities Regulatory Commission decided to file the case against the company in accordance with securities Law of the People’s Republic of China, Administrative Punishment Law of the People’s Republic of China and other laws and regulations for suspected information disclosure violations.The company said it will actively cooperate with the CSRC and fulfill its information disclosure obligations in strict accordance with regulatory requirements.Based on the above preliminary knowledge, counsel believes that the investors of Jiangte Electric Motor can participate in the pre-registration of claims if they meet any of the following conditions: investors who purchased the shares of Jiangte Electric Motor before December 9, 2021 and still hold the shares at the close of business on December 9, 2021;Buy jiangte Electric Shares between Oct 31, 2018 and Jan 30, 2019 and sell or hold them after Jan 31, 2019.Investors who suffer damage can register for compensation by following the wechat public account “Lei Zhu Ba”.Radar finance noted that previously Jiangte motor had been fined for violations.In May 2020, Jiangte Electric Motor announced that after investigation by Jiangxi Securities Regulatory Bureau, the company had the following violations of information disclosure:On October 31, 2018, the company disclosed in its annual report for the third quarter of 2018 that the net profit attributable to shareholders of listed companies is expected to vary from 33,756.53 million yuan to 47,8217,500 yuan in 2018, with a variation range of 20% to 70%.On January 31, 2019, the company disclosed the revised announcement of the 2018 annual performance forecast, and it is expected that the net profit attributable to shareholders of listed companies in 2018 will be a loss of 1.5 billion yuan to 1.64 billion yuan.On January 15, 2019, the company’s consolidated statement preliminarily estimated that its net profit in 2018 was -145 million yuan (excluding the amount of goodwill impairment), and its operating performance turned from surplus to deficit.However, the company did not fulfill its information disclosure obligations in a timely manner and did not disclose the 2018 annual performance revision until January 31, 2019.In addition, it was disclosed in the 2018 annual report that The company’s wholly-owned subsidiary, Jiangte Electric Vehicle Co., LTD., paid 94.3698 million yuan for yichun Leiheng Technology Co., LTD., which was a fund borrowing.The matter has not fulfilled the review procedure and information disclosure obligation.Jiangxi Securities Regulatory Bureau pointed out that the above behavior violates the relevant provisions of article 2, Article 3 and Article 25 of the “Listed company information disclosure Management Measures”.Zhu Jun, as the chairman and then general manager of the company, and Min Yinzhang, as the vice president and secretary of the board of directors of the company, failed to fulfill the duty of diligence and responsibility in accordance with Article 3 of the Measures for the Management of Information Disclosure of Listed Companies, and shall be mainly responsible for the above violations of the company.According to relevant provisions, Jiangxi Securities Regulatory Bureau decided to take supervision and management measures to the company and Zhu Jun, Min Yinzhang issued a warning letter, and recorded in the securities and futures market integrity files.For jiang special motor investigation of the follow-up progress, radar finance will continue to pay attention to.