Market value retreats, *ST Shentian and its actual controller fined over 10 million
2024-08-07
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China Youth Network News(Reporter Zhang Yayun, intern Li Shiyu) On August 5, the Shenzhen Stock Exchange disclosed an announcement that *ST Shentian and related parties received the "Preliminary Notice of Administrative Penalty".
According to the announcement, *ST Shentian was suspected of violating laws such as failing to disclose guarantee matters in accordance with regulations. The China Securities Regulatory Commission decided to file a case against the company and its actual controller, order the company to make corrections, give a warning, and impose a fine of 4 million yuan, and impose a fine of 8 million yuan on the company's actual controller Lin Hongrun. Other relevant parties were given warnings and fined accordingly.
Public information shows that *ST Shentian is the earliest professional company engaged in commercial concrete production in Shenzhen. It is located in Shenzhen, Guangdong Province, was established in 1984, and was listed on the Shenzhen Stock Exchange in 1993. The actual controller Lin Hongrun holds 27.39% of *ST Shentian's shares through Guangdong Junhao.
*ST Shentian received a "Preliminary Notice" issued by the Shenzhen Stock Exchange on the evening of July 26. According to the "Stock Listing Rules", the closing market value of the company's stock has been less than 300 million yuan for 20 consecutive trading days, and the Shenzhen Stock Exchange has decided to terminate the company's stock listing. *ST Shentian has become the first A-share company to be delisted due to market value.
It is worth noting that on May 10, *ST Shentian received a decision from the Shenzhen Stock Exchange to order rectification measures, requiring the company to recover 137 million yuan of occupied funds within six months. After investigation, it was found that *ST Shentian’s actual controller Lin Hongrun and his related persons occupied the listed company’s funds for non-operational purposes.
In addition, on August 3, Shenzhen Tiandi announced that Lin Kaixuan transferred her 70% equity in Guangdong Junhao Equity Investment Holding Co., Ltd. to her husband Lin Hongrun for 595 million yuan. After the transfer, Lin Hongrun held 100% of the shares of Guangdong Junhao, the controlling shareholder. Since the two did not meet the conditions of the acquirer in 2013 because they each had two ID cards, according to the "Management Measures for the Acquisition of Listed Companies", the acquirer shall not acquire a listed company if it has committed a major illegal act or is suspected of a major illegal act in the past three years. Therefore, the transaction price was initially planned to be 595 million yuan, but the final transaction price was only 10,000 yuan.
Public information shows that on December 25, 2013, Hainan Provincial CPPCC member "Lin Hongrun" was reported to have another ID card with the name "Lin Guixian", and his wife, Guangdong Provincial CPPCC member Lin Kaixuan, also had an ID card with the name "Lin Yingnan". The Wanning City Public Security Bureau cancelled the registration in accordance with the law on the grounds of duplication of people and households. After the Hainan household registration was cancelled, the names used by the Lin couple in public were still "Lin Hongrun" and "Lin Kaixuan".
(Source: China Youth Network)
