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Suspected of manipulating the securities market! The actual controller of A-share company was detained, and the exchange sent a letter!

On the evening of April 25, Guao Science and Technology (300551) issued an announcement and recently received a "detention notice" from the Qingdao Public Security Bureau provided by the family of Chen Chongjun, the real accuser, and learned that Chen Chongjun was criminally detained by the Qingdao Public Security Bureau on suspicion of manipulating the securities market.

Chen Chongjun is not currently a director, supervisor or senior manager, and his criminal detention will not have a significant impact on the company's day-to-day operations, nor will it affect the disclosure of the 2023 report, Guao said. At present, the operation of the company is normal.

Only more than an hour after the announcement was issued, the exchange urgently sent a letter of concern to Guao Science and Technology, asking the company to explain the information it had on the specific matters of Chen Chongjun's suspected crime of manipulating the securities market, and whether it involved the company or the company's relevant director and supervisor's responsibility.

The actual controller was detained by criminal punishment.

According to his public resume, Chen Chongjun, born in 1968, was the founder of Guao Technology and had previously held two important positions as chairman and general manager of the company for a long time. In October 2021, Chen Chongjun resigned as general manager of the company for personal reasons.WorldcupqualifiersasiaticketsIn May 2023, the board of directors of Guao Science and Technology was changed, and Chen Chongjun was no longer a director or chairman of the board.

Up to now, Chen Chongjun owns 7855 of Guao Technology.Worldcupqualifiersasiatickets.06 million shares, accounting for 23% of the total share capitalWorldcupqualifiersasiatickets.1%.

The announcement shows that the reason for Chen Chongjun's criminal detention is suspected of manipulating the securities market, and the specific object of manipulation is still unknown.

A reporter from Securities Times e Company noted that on December 27, 2023, that is, four months ago, Chen Chongjun received institutional research and exchanged views with investors on the company's cross-border new storage field.

Combing through the past announcements of Guao Science and Technology, we can see that since 2022, Chen Chongjun's shares have been judicially frozen, pledged and even auctioned frequently because the debt is due to be repaid, and he has also received court enforcement notices many times.

In April this year, because Chen Chongjun failed to fulfill his repayment obligations to the natural person Shen Huatang in accordance with the civil mediation statement, the latter applied to the court for compulsory enforcement, and the court filed a case and froze Chen Chongjun's 93000 shares in Guao Science and Technology; in the same month, in order to supplement his personal liquidity needs, Chen Chongjun pledged his 6 million shares to the natural person Lien Jianhao. Up to now, Chen Chongjun has pledged a total of 67.17 million shares.

Enterprise inspection data show that Chen Chongjun as a defendant, the number of cases reached 12, the cumulative amount of cases is 353 million yuan, and most of the cases are loan contract disputes.

It is worth mentioning that in March this year, Chen Chongjun reduced his holdings in violation of regulations by the Shanghai Securities Regulatory Bureau issued a warning letter. Specifically, when the proportion of changes reached 5% during the period from November 21, 2022 to March 27, 2023, it did not stop trading in accordance with the regulations; on August 1 and 11, 2023, its holdings were reduced within half a year from the post of outgoing director, violating Dong Jiangao's share management change management rules.

The exchange is eager to pay attention.

More than an hour after the announcement, the Shenzhen Stock Exchange quickly sent a letter of concern to Guao Science and Technology.

In the letter of concern, Guao Science and Technology was asked to clarify the following five major issues:

First, explain the information that the company has as of the date of reply on the specific matters of Chen Chongjun suspected of manipulating the securities market, and whether it involves the responsibility of the company or the relevant directors of the company, and if so, indicate whether the company or the relevant director is suspected of major violations of laws and regulations

Second, fully evaluate and explain the impact of Chen Chongjun's criminal detention on the stability of corporate control, daily production and operation, investment and financing, debt repayment, periodic report disclosure, etc., the response measures that the company has taken or plans to take, and prompt the relevant risks in a timely and full manner.

3. Explain the freezing situation of Chen Chongjun's personal debt and equity pledge held by the company and Chen Chongjun's relatives, including the amount of personal debt, the debt maturity arrangement, the number of pledged shares, the situation of pledge breach, the number of frozen shares, whether the company's guarantee liability is involved, and whether it exists.WorldcupqualifiersasiaticketsHe restricted his equity, and verified whether Chen Chongjun falsely used the name of the company to borrow money or guarantee it.

Fourth, verify the time when the company and Chen Chongjun's family received the "detention notice" and the specific knowledge of the relevant matters, and indicate whether there is a failure to fulfill the obligation of information disclosure in a timely manner, self-examine whether the directors, supervisors, senior managers and shareholders holding more than 5% of the shares have insider trading, and provide a list of insider information and a transaction self-inspection report.

Other matters that the company considers should be explained.

With regard to the above problems, Guao Science and Technology needs to submit the relevant explanatory materials to the Shenzhen Stock Exchange and disclose them to the public before April 29, and at the same time send a copy to the Supervision Office of listed companies of the Shanghai Securities Regulatory Bureau.

Transform the new storage field

Guao Science and Technology is mainly engaged in intelligent financial system, financial information services, digital people and other businesses. in 2022, due to the shrinking market demand for cash equipment, the superimposed unfulfilled performance commitments of subsidiaries triggered an impairment of goodwill, a decline in official revenue and gross profit, and fell into losses. According to the performance forecast, the company will lose 52 million yuan to 78 million yuan in 2023 and continue to be in a state of loss.

In order to accelerate the business transformation, Guao Technology announced its entry into the new storage field in August 2023. Specifically, the company accepted the 100% capital contribution of Shanghai Hao Yuangu with 0 yuan, and at the same time increased the subscription contribution of 210 million yuan to Shanghai Hao Yuangu to increase capital for the new storage technology of the three-dimensional new memory company. After the completion of the transaction, Shanghai Hao Yuangu will directly hold 31.3936% of the equity of Xinxin Technology and become a shareholding company of Xinyu Technology. On August 14, Guao Science and Technology reached a strategic cooperation agreement with Xincun Science and Technology, and the two sides planned to jointly set up a company positioned as module packaging and testing services to carry out R & D and industrialization of control chips and modules.

In a survey conducted by investors in December last year, the company said that customers of cloud service providers downstream of the new technology had conducted stress tests on the memory chips of the new technology, and the results were good.

What needs to be paid attention to is that Guao Science and Technology was punished by the Shanghai Securities Regulatory Bureau and the Shenzhen Stock Exchange because of the inaccurate content of the letter involving the new technology.

On September 5, 2023, the company disclosed in the "Reply on the Letter of Concern from the Shenzhen Stock Exchange" that Xincun Technology has signed a cooperation confirmation letter with the government of Anji County of Huzhou City, Zhejiang Province, and will adopt the local government + social capital model to invest a total of nearly 10 billion yuan to establish a storage production line. After investigation, in the "Project Promotion Confirmation" signed by Xincun Technology, Anji Management Committee and Changjiang Advanced Storage Industry Innovation Center Co., Ltd., although it was confirmed that Xincun Technology and Anji Management Committee jointly took the lead in establishing a pilot line project company as the main body to realize the production and manufacturing of three-dimensional phase change memory products, but there is no total investment of nearly 10 billion yuan.

The Shanghai Securities Regulatory Bureau believed that the company's disclosure that it had signed a cooperation confirmation letter and invested a total of nearly 10 billion yuan to build a storage production line was inaccurate, and decided to take administrative supervision measures against the company to order corrections and issued a warning letter to the relevant responsible person; the Shenzhen Stock Exchange issued a notice of criticism to the company and relevant responsible persons.