According to the notice, Wei Long Media has insufficient funds in China, and the financing of relevant financial institutions has yet to be approved. In the case of great uncertainty, the acquisition of listed companies by shell companies and the hasty announcement have seriously misled the market and investors.
The full text is as follows:
Zhejiang xiangyuan culture co., ltd
Announcement on the Company and Related Parties Receiving the Advance Notice of Administrative Punishment and Market Prohibition from China Securities Regulatory Commission
The board of directors and all directors of the Company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and they shall bear individual and joint responsibilities for the truthfulness, accuracy and completeness of its contents.
20 1 17 Zhejiang xiangyuan culture co., ltd (hereinafter referred to as "the company") received the notice of administrative punishment and market prohibition from China securities regulatory commission (hereinafter referred to as "China securities regulatory commission") on October 8, 2065 (penalty word 2017/kloc-0). The full text of the announcement is as follows:
"Tibet Weilong Culture Media Co., Ltd., Zhejiang Marriott Wanjia Culture Co., Ltd., Huang Youlong, Zhao Wei, Zhao Zheng, Kong Deyong:
Zhejiang Wanhao Wanjia Culture Co., Ltd. (hereinafter referred to as Wanjia Culture, now renamed as Zhejiang Xiangyuan Culture Co., Ltd.), Tibet Weilong Culture Media Co., Ltd. (hereinafter referred to as Wei Long Media) and other suspected cases of illegal information disclosure have been investigated by our Association, and I will impose administrative penalties on you according to law and ban you from the market. Now I will inform you of the facts, reasons and basis of administrative punishment and market ban on you, as well as the relevant rights you enjoy.