On the same day, Qinghai Supervision Bureau of China Securities Regulatory Commission (hereinafter referred to as "Qinghai Supervision Bureau of CSRC") issued "Advance Notice of Administrative Punishment and Market Prohibition" (hereinafter referred to as "Advance Notice"), which determined that Xiao Yongming (the actual controller) and others of Zangge Holdings had committed serious illegal acts and decided to take different punishment measures such as fine and five-year market prohibition.
Subsequently, Zangge Holdings stated in the announcement that the company gave up the right to state, defend and hear and accepted relevant administrative penalties.
Financial fraud Dong 16 people were punished.
After investigation, Zangge Holdings was fined for the existence of illegal facts such as falsifying operating income and profits, inflating accounts receivable and prepayments, and failing to disclose the non-operating occupation of Zangge Holdings' funds by controlling shareholders and related parties as required.
The Qinghai Supervision Bureau of the Securities Regulatory Office found out that during the period from July 20 17 to February 20 18, Zangge Holdings inflated its operating income by 654.38+31800 million yuan and inflated its total profit by1280,000 yuan. In 20 18, the business income was inflated by 468 million yuan, and the total inflated profit was 477 million yuan (including other related income).
In the same period, Zangge Holdings inflated its prepayments by 240 million yuan in 20 17, its accounts receivable by 47 10/00000 yuan in 20 18 and its prepayments by 28 10/00000 yuan.
Moreover, Tibet Zangge Venture Capital Group Co., Ltd. (hereinafter referred to as Zangge Group) and its related parties did not disclose the funds of listed companies in time. By June 30th, 20 19, the balance of occupied funds was 265,438+64 million yuan.
According to the above facts, Qinghai Supervision Bureau of China Securities Regulatory Commission believes that Zangge Holdings and its actual controller Xiao Yongming were suspected of violating the relevant provisions of the Securities Law, which constituted an illegal act, and decided to order Zangge Holdings to make corrections, give a warning and impose a fine of 600,000 yuan; Xiao Yongming was given a warning and fined 900,000 yuan. Wu Weidong and Liu Wei were fined 200,000 yuan, while others were fined 30,000 yuan.
In addition, the parties Xiao Yongming and Wu Weidong committed serious illegal acts and were banned from the market for 5 years and 3 years respectively.
Admit the illegal facts and give up the defense.
According to the relevant laws and regulations, the parties have the right to make statements, defend themselves and ask for a hearing after the regulatory authorities have imposed administrative penalties and market ban measures. If the facts, reasons and evidence put forward are established after examination, the regulatory authorities will adopt them.
Obviously, the illegal behavior of Zangge Holdings has been settled and is willing to accept punishment. Zangge Holdings admitted in the announcement that the illegal facts identified in advance in this notice are consistent with the company's self-inspection results, and the company accepts relevant administrative penalties.
At that time, since the Qinghai Supervision Bureau of China Securities Regulatory Commission announced the decision, Xiao Yongming and Wu Weidong were not allowed to continue to engage in securities business in their original institutions, nor were they allowed to serve as directors, supervisors and senior managers of the original listed companies and unlisted public companies, nor were they allowed to engage in securities business in any other institutions, nor were they allowed to serve as directors, supervisors and senior managers of other listed companies and unlisted public companies.
Multiple factors led to a sharp decline in performance.
What is more serious than being punished is that the situation faced by Zangge Holdings is not optimistic. It is necessary not only to solve the problem that controlling shareholders and related parties occupy the funds of listed companies for non-operation, but also to face the test of production and operation performance.
At present, Zangge Holdings is the second largest producer of potassium chloride in China. However, in recent years, due to the low prices of agricultural products and the increase in the supply of imported potash fertilizer, the price of domestic potash fertilizer has continued to decline, and the pressure on industrial enterprises has suddenly increased. According to the data revealed by the Market Analysis Forum of 20 19 Phosphate Double Salt Conference held in mid-June of 5438+0 19, from June to September of 5438+09, China imported 7.653 million tons of potash fertilizer, an increase of 2.09 million tons year-on-year.
With the increase of supply and the decrease of demand, the potash fertilizer market is not optimistic. More seriously, due to the influence of climate warming and humidity and the increase of rainfall in northwest China, Zangge Holdings is facing the dilemma of declining potash production.
Zangge Holding Production Base is located in Chaerhan Salt Lake in the west of Qinghai Province, which is located in the vast Gobi Sea. For a long time, the climate is hot and dry, the sunshine time is long, and the water evaporation is much higher than the precipitation. The average annual rainfall is about 40 mm, but the evaporation is as high as 3000 mm, which provides favorable natural conditions for the salt field to bask in the sun.
However, since 20 18, precipitation in northwest China has increased, and the phenomenon of "warm and humid" has aroused widespread concern. Zangge Holdings revealed that from last year to September this year, the frequency and total amount of precipitation in Chaerhan Salt Lake increased, especially in the golden period of sunbathing in summer, which affected the output of carnallite. This eventually led to the overall decline of potash fertilizer production of Zangge Holdings in 20 18, which was 24% lower than that in 20 17. In the first three quarters of this year, potash fertilizer revenue decreased by about 25% ~ 30% compared with the same period of last year.
According to the latest financial report data, Zangge Holdings' revenue in the first three quarters was1160 million yuan, down 36.76% year-on-year, and its net profit was 352 million yuan, down 53.26% year-on-year. From July to September, the company's net profit was1.1.50 billion yuan, down 64 16% year-on-year.