2022, ST Jingji disclosed that it found that its subsidiary Huidacheng was in an abnormal financial situation, and its former shareholders Luo Yuexiong and Wang Jianping were suspected of contract fraud , and reported the case to the public security organs; In 2024, the China Securities Regulatory Commission decided to file a case against ST Jingji, which was suspected of violating the rules because of Huidacheng's false profits. Two years later, the result of the case finally came to the ground.
On November 6, ST Beijing Machinery announced that it had received the Decision on Administrative Penalty issued by Hubei Securities Regulatory Bureau on that day.
The content shows that ST Jingji held 51% of Huidacheng's equity in Shenzhen Huidacheng Intelligent Technology Co., Ltd. (Hereinafter referred to as "Huidacheng") from 2015 to 2018, and in 2018, ST Jingji included Huidacheng in the scope of consolidated statements.
In the same year, Huidacheng and its wholly-owned subsidiary Jingshan Jinghui Intelligent Technology Co., Ltd. falsely increased their operating income by 58.1922 million yuan and operating cost by 9.601 million yuan by signing false contracts with customers and confirming revenue for actual performance of contracts in 2018. After deducting the impact of asset impairment losses, the total profit of ST Jingji in 2018 was 46.7046 million yuan, accounting for 25.49% of the total profit disclosed by ST Jingji in the current period. There are false records in the 2018 annual report disclosed by ST Jingji. On June 22,
2021, ST Jingji disclosed the Report on the Issuance of Jingshan Light Machine's Non-public Issuance of Stocks and the Listing Announcement (hereinafter referred to as the Listing Announcement), citing the false financial data in the annual report of 2018. On January 29, 2022, ST Jingji issued the Announcement on the Correction and Retrospective Adjustment of Accounting Errors in the Previous Period, which retroactively adjusted the relevant financial data in the annual report of 2018.
For the above violations of ST Jingji, the Hubei Securities Regulatory Bureau conducted a case investigation. The following penalties were imposed on the company and related personnel:
ST Jingji was warned and fined 5 million yuan ;
Li Jian, as the chairman and general manager of ST Jingji at that time, had overall leadership responsibility for the company's financial and credit work, failed to take effective measures to strengthen the management and control of Huidacheng, a subsidiary company, and signed to ensure that the annual report of Jingshan Light Machine in 2018 and the Listing Announcement were true, accurate and complete. According to the relevant regulations, Li Jian is the person in charge directly responsible for the violation of ST Jingji Xinpi, who is given a warning and fined 2.5 million yuan ;
Zeng Tao, as the deputy general manager of Jingshan Light Machine at that time, was in charge of financial work, and was responsible for the financial work of Jingshan Light Machine and its subsidiary Huidacheng. He did not strengthen the financial supervision and management of Huidacheng, and signed to ensure that the annual report of Jingshan Light Machine in 2018 was true, accurate and complete. According to the relevant provisions, Zeng Tao is another person directly responsible for the false record in the annual report of ST Beijing Machine in 2018, and he is given a warning and fined 300000 yuan.
Zhou Shirong, as the then director and senior vice president of Jingshan Light Machine, knew that Huidacheng was suspected of financial fraud before the disclosure of the Listing Statement, did not pay careful attention to the impact of Huidacheng's suspected fraud on relevant financial data, and signed to ensure that there was no false record in the Listing Statement. According to the relevant provisions, Zhou Shirong is the other person directly responsible for the false record in ST Jingji's Listing Announcement, and he is given a warning and fined 600000 yuan.
Luo Xianxu, as the then director of Jingshan Light Machine, knew that Huidacheng was suspected of financial fraud before the disclosure of the Listing Statement, did not pay careful attention to the impact of Huidacheng's suspected fraud on the relevant financial data, and signed to ensure that there was no false record in the Listing Statement. According to the relevant provisions, Luo Xianxu is another person directly responsible for the false record in the ST Beijing Aircraft Listing Announcement, who is given a warning and fined 500000 yuan. On January 16
, 2026, ST Jingji received the Prior Notice of Administrative Penalty from Hubei Securities Regulatory Bureau and issued a public announcement.
Three days later, on January 19, ST Jingji made a public response to the above penalties and related cases.
ST Jingji said that Huidacheng , the main body involved, had already been shut down and had nothing to do with the company's current main business and business system . In the process of operation and management, the company took the initiative to discover the financial anomalies of Huidacheng, and resolutely reported the case to the public security organs in 2021. After investigation by the public security organ, prosecution by the procuratorial organ and trial by the court, the Intermediate People's Court of Jingmen City, Hubei Province, made a final judgment in May 2024, which found that the former shareholders of Huidacheng had committed the crime of contract fraud, and the relevant criminal responsibility had been investigated .
At the same time, ST Jingji has completed the financial retrospective adjustment in 2022, and the possible financial consequences of the matters involved in the Notice have been fully reflected in the previous annual statements. The company said that the penalty would not have a new significant adverse impact on the company's current and future performance.
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