Consultation and communication “delayed” xinpi node Zhongxing fungus secretary was given a notice of criticism
Source: Dong Mi AcademyConsultations communication nodes “delayed” letter, dong and the secret was given informed criticism sanctions on April 1, zhongxing flora and those responsible company received a disciplinary decision from the shenzhen stock exchange, which together with the chairman secretary were given the criticized, look from illegal content, belong to for subsequent communication delay the timeliness of information disclosure,For those who have foreign cooperation and acquisition of assets of the company is a reference.According to disciplinary decision: On June 21, 2021, Zhongxing Fungus disclosed the “Suggestive Announcement on Signing the Letter of Intent for Equity Acquisition cooperation”, saying that the company intends to acquire 100% of the equity of Kweichow Maotai Town Shengjiao Wine Co., LTD in cash.Liquor is a hot plate at that time, the company’s acquisition announcement for the company brought a continuous trading limit.To buy assets, is a normal capital operation of listed companies, the exchanges are also what to say, but stood on the protection of small and medium-sized investors point of view, in to the company to send to the attention of the functional requirements in the company, “the transaction continue to perform the duty of disclosure is trade still exist in the process of implementation of uncertain factors in details, the deal cannot be reached,Please promptly disclose and specify the reasons for failure and whether the company’s relevant personnel are diligent and responsible.”Zhongxing flora released on June 26 on the shenzhen stock exchange announcement of attention letter of reply, said the company will according to the progress of the transaction continue to perform the duty of disclosure of information to trade in the process of implementing the uncertainty factors in details, such as deal cannot be reached, the company will be disclosed in a timely and detailed is not a reason,And whether the person concerned is diligent and responsible.Sure enough, on October 16, 2021, zhongxing flora disclosure concerning the termination letter of intent to acquire the equity of the announcement said that due to the macro market environment change wait for a reason, on August 25, 2021, the company decided to stop the acquisition, then relevant matters on company and the dealing party on the termination of repeated communication and negotiation, to obtain the consent of the other,Finally, after repeated friendly consultations, both parties reached an agreement on termination.It can be seen that the company decided to terminate the acquisition on August 25 without the consent of the other party, which was a unilateral decision. After repeated communication with the other party, both parties finally agreed to terminate the acquisition. On this basis, the company disclosed the announcement of termination of the acquisition.The Exchange believes that Zhongxing’s failure to timely disclose the decision to terminate the acquisition violates the provisions of Article 2.1 and Article 7.6 of the Stock Listing Rules of Shenzhen Stock Exchange (revised in 2020).Disclosure of material events, as long as it involves developments that may affect the company’s stock price, should trigger the timing of disclosure, rather than requiring a resolution made by the board of directors or an agreement signed by both parties as described in the first and second paragraphs.Similar cases, nearly period of time also happened to other companies, such as A company and the related customer signed A major sales orders, some time node, the company receives mail “to cancel the order, may be in accordance with the agreement, the company will communicate with each other, such as whether can unilaterally cancel the order, orders how penalty due to breach of contract, and is there any room for manoeuvre,After all, it is “intended to cancel” and so on. Some companies will wait until the completion of communication before making information disclosure. If the strict implementation of timeliness of information disclosure is pursued, these companies will be involved in information disclosure violations.Can’t communicate, of course, don’t say, but the communication time node must be as soon as possible, you drag a 10 days and a half months, even like the zhongxing flora after more than a month to disclose, it is said not over, because during the communication you will have new investors to buy shares in companies, for the people, will be considered to be the company’s delay disclosure, led to his step.