For the controlling shareholder 6.9.9 billion credit guarantees were not disclosed

For the controlling shareholder 6.9.9 billion credit guarantees were not disclosed
The highest priority of providing main debt to the controlling shareholder Yinge Group is 6.With a guarantee of US $ 9.9 billion and no disclosure, Yinge Investment was appointed as a senior executive to be supervised and issued administrative supervision measures.In October last year, Sauna.com reported on Yinge ‘s investment or suspected illegal guarantees. The listed company responded at the time that the company had no guarantees other than the ones disclosed.According to the latest announcement from Yinge Investment, the listed company received on April 7, 2020, the Decision of the Henan Securities Regulatory Commission on the Issuance of Warning Letter Measures against Henan Yinge Industrial Investment Co., Ltd. ([2020]No. 4), “Decision on the Measures to Issue Warning Letters to Gu Qi and Xing Zhiheng” ([2020]No. 5) (hereinafter referred to as the “Supervision Decision”).The above-mentioned regulatory decision shows that, on November 21, 2018, Yinge Investment as the guarantor had the highest amount of guarantee contract with a bank’s senior management, providing the controlling shareholder Luohe Yinge Industrial Group Co., Ltd. with a maximum limit of 6 main debts.9.9 billion guarantee guarantee.Yinge Investment has not completed the planning procedures and information disclosure obligations for this guarantee.Gu Qi, then chairman of Yinge Industry, and Xing Zhiheng, then secretary of the board of directors, did not exercise due diligence in the course of performing their duties.The Henan Supervision Bureau of the China Securities Regulatory Commission decided to invest in Yinge. Gu Qi and Xing Zhiheng implemented administrative supervision measures that issued a warning letter and recorded them in the integrity file of the securities and futures market.The Henan Supervision Bureau stated that Yinge Investment, Gu Qi, and Xing Zhiheng should fully learn the lessons, standardize corporate governance, and conduct serious self-examination and rectification of such issues, strict information disclosure obligations, and prevent violations, and thus received this decision.Submit a written report to the Supervision Bureau within 30 days.The supervision decision shows that if the supervision and management measures are not accepted, an administrative reconsideration application can be submitted to the China Securities Regulatory Commission within 60 days from the date of receipt of the decision, or 6 months from the date of receipt of the decisionNeiyi filed a lawsuit with a people’s court with jurisdiction.During the reconsideration and litigation, the above-mentioned supervision and management measures will not cease to be implemented.In the announcement, Yinge Investment stated that the company and relevant responsible persons will highly comply with the issues raised in the “Supervision Decision”, will strictly follow the requirements of relevant laws and regulations, fully draw lessons, increase the company’s internal control governance, and improve related procedures.Continuously improve the awareness of standardized operations to ensure that information disclosure is true, accurate, complete, and timely, and effectively safeguard the rights and interests of all shareholders.In October last year, Sauna Night reported that according to the materials provided by Yinge Investment Creditors, the loan of Yinge Investment, the controlling shareholder of Yinge Investment, had been overdue. Yinge Investment may be suspected of billions of illegal guarantees.Yinge Investment responded to the sauna at the time, and Yewang said that apart from the disclosed guarantees, the company had no other guarantees. Instead, it checked the original senior executives of Yinge Group for violations of laws and regulations.The secretariat of Shenzhen Qianhai Fitch Tiancheng Financial Leasing Co., Ltd. (hereinafter referred to as “Fitch Leasing”) told reporters that Yinge Group borrowed 1,200 million from Fitch Leasing in April 2018, and Yinge Investment was the debt of Yinge GroupProvide Fitch Lease with joint liability guarantee and sign guarantee contract.Yinge Investment did not recognize the above guarantees.According to the 2018 annual report of Yinge Investment, the company received Fitch Lease on April 22, 2019 to complain about the 1200 million complaint against the Yinge Group, which involved the company may provide a guarantee for the matter.Yinge Investment said in its annual report that the company has not found any record of this guarantee contract after inquiring related personnel.Obviously, in June 2019, Henan Luda Law Firm was entrusted by Yinge Investment to issue a special verification legal opinion on the above 1200 million concerns, showing whether the signatures and seals on the above guarantee contract and commitment letter are true,The authenticity and legality of the guarantee contract and the letter of commitment must be confirmed by judicial appraisal.The legal opinion stated that in addition to doubts about the authenticity of the replacement guarantee contract, we cannot judge whether Yinge Investment should bear the guarantee responsibility.In addition, Yinge Investment Creditor Fitch Lease told the sauna, Yewang, Yinge Investment issued a guarantee contract with a value of more than US $ 2.4 billion to Yingkou Coastal Bank Co., Ltd. and Tianjin Binhai Rural Commercial Bank Co., Ltd., a commitment letter,The guaranteed parties include Yinge Group, etc., and none of them have been publicly disclosed.To proceed, Yinge Investment responded to reporters on October 22, 2019 that continuous silver pigeon investment involving illegal guarantees is not true.Yinge invested in the sauna, Yewang said that after the company’s verification of the guarantee, the company’s guarantee agreement will be stamped with the official seal or the official seal and the signature of the legal representative at the place of payment. The company has checked the company’s seal from 2017 to 2018.Registration, in addition to the company ‘s disclosed external guarantees, the company has not found any records of the company ‘s official seals on other guarantee agreements, nor has it found the authorization of related matters; in addition, the company has not been on any board of directors and shareholders ‘meetingsHave proposed or made decisions about other guarantee matters of the company (except for the disclosed guarantee matters).Yinge Investment’s investment in sauna, Yewang said, “According to the company law and the company’s articles of association, if the company provides a guarantee to the outside world, it should be approved by the board of directors and the shareholders’ meeting, and the guarantee document should be signed by the company’s legal representative.We have noticed rumors in the society, but after verification, there are no other guarantees except the ones disclosed.According to whether the former senior executives of Yinge Group have any violations of laws and regulations, we will further check, if there are, we will resolutely investigate the legal responsibility of the perpetrators and properly handle them in accordance with laws and regulations.”At present, the investment status of Yinge is not good.It is reported that the 2019 performance pre-loss announcement disclosed by the company is expected to decline by 6 in 2019.300 million to 6.8 ppm; net profit attributable to shareholders of listed companies after replacing non-recurring gains and losses -5.1.7 billion to -5.6.7 billion.Since the net profit attributable to shareholders of the listed company in 2018 is negative, the company ‘s net profit attributable to shareholders of the listed company in 2019 will still be negative. Yinge Investment Announcement said that the company ‘s stock will be in the 2019 annual report.After the disclosure, the delisting risk warning will be implemented.Sauna, Ye Wang Zhu Yueyi Editor Zhao Ze proofreading Li Xiangling