On December 13, Lanfeng Biochemical announced that the company was subject to the "Decision of Jiangsu Securities Regulatory Bureau on Issuing Warning Letters to Jiangsu Lanfeng Biochemical Co., Ltd., Liu Zhi, Liu Anping and Tan Jinbo" issued by Jiangsu Regulatory Bureau. The reason is that Lanfeng Biochemical did not properly account for Jiangxi Deshipu New Materials Co., Ltd. (Hereinafter referred to as "Jiangxi Deshipu"), resulting in inaccurate disclosure of relevant financial data in the semi-annual report of 2022 and the third quarter report of 2022.
According to the announcement, in May 2022, Lanfeng Biochemical incorporated Jiangxi Deshipu into the scope of consolidated statements and prepared the semi-annual report of 2022 and the third quarter report of 2022 accordingly. However, on April 27, 2023, the company issued the Announcement on the Correction and Retrospective Adjustment of Pre-accounting Errors, saying that because the basis for incorporating Jiangxi Deshipu into the scope of the merger of listed companies in May 2022 was insufficient and prudent, the company's annual report in 2022 would adjust the scope of the consolidated statements and no longer include them in the scope of the merger. Meanwhile, the relevant data in the 2022 semi-annual report and the 2022 third quarter report are corrected, in which the total assets are reduced by 450 million yuan and 490 million yuan respectively, the net assets are reduced by 4.006 million yuan and 12.7695 million yuan respectively, and the total profits are reduced by 5.3341 million yuan and 17.0259 million yuan respectively; The net profit was reduced by 4.006 million yuan and 12.7695 million yuan respectively.
In response, Jiangsu Securities Regulatory Bureau took administrative supervision measures to issue warning letters to Lanfeng Biochemical, then Chairman Liu Zhi, then General Manager Liu Anping and then Chief Financial Officer Carbon Jinbo, and recorded them in the integrity files of the securities and futures market. According to
the data, Jiangsu Lanfeng Biochemical Co., Ltd. was founded in 1990 and listed on the main board of Shenzhen Stock Exchange in 2010. It is an enterprise focusing on agrochemical products. On September 23 this year, Lanfeng Biochemical announced that it would purchase 51% of Anhui Xuhe New Energy with 67.52349 million yuan in cash and become the parent company of Anhui Xuhe New Energy. On November 24, Lanfeng Biochemical responded to investors'questions on the interactive platform of investors, saying that Xuhe Technology is an integrated supplier focusing on R & D, manufacturing, sales and service of ultra-efficient N-type crystalline silicon photovoltaic products. At present, it has 2G W monocrystalline PERC battery production capacity, is building an annual output of 10g W high-efficiency N-type photovoltaic cells and modules project, and actively lays out new energy power plant development business.
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