of November 10, Yijing Optoelectronics announced that the company and its controlling shareholder , Weizhi Energy , had received the announcement of the Decision on Administrative Supervision Measures from Ningbo Regulatory Bureau of China Securities Regulatory Commission on November 10. The Securities Regulatory Commission issued a warning letter to Yijing Optoelectronics and its Secretary Zhang Ting and Weizhi Energy .
1," The reason for the inaccurate
disclosure of the construction progress of the major investment projects of Yijing Optoelectronics is that Zhang Ting, the timely secretary of the board of directors of Yijing Optoelectronics, issued a warning letter. It is about the 10GW built by Yijing Optoelectronics in Chuzhou September 22, 2008". Yijing Optoelectronics issued an announcement on the investment and construction of photovoltaic manufacturing projects, saying that the company intends to invest in the construction of 10GW photovoltaic cells, 10GW photovoltaic slices and 10GW photovoltaic modules in Quanjiao County, Chuzhou City, Anhui Province. The project is divided into three phases of construction. The total investment of the first phase of the project is about 5 billion yuan . The 10GW high-efficiency N-type TOPCon photovoltaic cell project is constructed . The second phase of the project is the 10GW photovoltaic slice project. The third phase of the project is the 10GW photovoltaic module project.
5.3 billion yuan , and the start-up time is determined by the two sides through consultation according to the follow-up progress. Once the announcement of this
project was issued, the stock price of Yijing Optoelectronics rose and stopped directly on September 22 and 23, and touched the abnormal fluctuation of stock trading.
However, on June 15, 2023, Yijing Optoelectronics issued the Announcement of the Company's Response to the Letter of Supervision on Information Disclosure of the Annual Report of 2022. Chuzhou Phase I 10GW high-efficiency N-type TOPCon photovoltaic cell project is expected to complete the installation and commissioning of the first production line ( 500 MW ) in June 2023. In late June, the first battery was offline . This only accounts for 5% of the project production scale disclosed in the previous period, which is quite different from the construction scale announced in the previous period.
In response to this problem, Yijing Optoelectronics has previously responded that it is affected by the liberalization of epidemic control at the end of 2022 and the progress of government bidding and approval for agent construction projects. The commencement and construction progress of the first phase project of the company is not as expected , which is different from the expected production target disclosed in the previous information. He also said that the company would keep a close eye on the installation and commissioning of the equipment and strive to achieve full production in the fourth quarter.
2. The shares of Yijing Optoelectronics held by Weizhi Energy were judicially frozen and the judicial mark was not disclosed in time
. According to the announcement, 4.59% of the shares of Yijing Optoelectronics held by Weizhi Energy were judicially frozen on June 19, 2023; Subsequently, the 2.79% shares of Yijing Optoelectronics held on July 3 were judicially marked, totaling 7. However, Yijing Optoelectronics did not disclose the news until July 11. As the controlling shareholder of Yijing Optoelectronics, the above matters violated the provisions of Article 3, paragraph 1, Article 22 and Article 39 of the Measures for the Management of Information Disclosure of Listed Companies.
In this regard, the SFC requires the above-mentioned companies and personnel to check and implement the problems mentioned one by one, and the relevant responsible parties will earnestly learn lessons and draw lessons from them, actively rectify them in accordance with the requirements of the Ningbo S ecurity Regulatory Bureau, and request Yijing Optoelectronics and Weizhi Energy to submit rectification reports to the Ningbo Regulatory Bureau within 30 days after receiving the Decision on Administrative Supervision Measures. Take effective measures to do a good job in information disclosure.