xinsai shares were issued a warning letter due to errors in the disclosure of multiple performance reports in 2023
2024-09-10
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beijing news (reporter liu huan) on september 10, a beijing news reporter learned that the agricultural company xinjiang sailimu modern agriculture co., ltd. (referred to as "xinsai co., ltd.") had incorrect disclosure of multiple performance reports in 2023. the company and the then-chairman ma xiaohong, general manager chen jianjiang, and financial director gao weiqun were subject to supervisory and management measures by the xinjiang regulatory bureau of the china securities regulatory commission, including a warning letter, and were included in the capital market integrity file.
according to the "decision on issuing a warning letter to xinjiang sailimu modern agriculture co., ltd. and relevant responsible persons" issued by the xinjiang regulatory bureau of the china securities regulatory commission, the "announcement on correction of previous accounting errors and periodic reports" disclosed by xinsai co., ltd. on august 1, 2024 shows that the company, based on the principle of prudence, conducted a comprehensive review of the lint cotton trading business in the first and second quarters of 2023, and adjusted the lint cotton trading income recognized in the first and second quarters of 2023 in accordance with the gross method to the net method, and reversed the over-recognized operating income and operating costs in the first and second quarters in the third quarter of 2023, resulting in the company's 2023 first quarter report, semi-annual report, and third quarter report. the relevant data disclosure is incorrect. accordingly, the company corrected the relevant data of the first quarter report, semi-annual report, and third quarter report of 2023, and the operating income was reduced by approximately 28.3093 million yuan, reduced by approximately 62.1071 million yuan, and increased by approximately 28.6890 million yuan, respectively.
the above-mentioned actions of xinsai co., ltd. violated the relevant provisions of the "information disclosure management measures for listed companies". the company's then chairman ma xiaohong, general manager chen jianjiang, and financial director gao weiqun failed to perform their due diligence obligations in accordance with the regulations and bear primary responsibility for the above-mentioned violations. the xinjiang regulatory bureau of the china securities regulatory commission decided to take supervisory and management measures of issuing warning letters to xinsai co., ltd., ma xiaohong, chen jianjiang, and gao weiqun, and include them in the capital market integrity file.
editor: li yan
proofread by yang li
