The first ticket in 2020! Yunnans former richest man was fined 22 million yuan by the CSRC

category:Finance
 The first ticket in 2020! Yunnans former richest man was fined 22 million yuan by the CSRC


The first ticket in 2020

According to the website of Shanxi securities regulatory bureau, it is found that Zhao Xinglong has the following illegal facts:

1u3001 Zhao Xinglong actually controls Guo, Wang, Fu account transaction lion head stock

Zhao Xinglong plans to acquire Taiyuan Shishou Cement Co., Ltd. (hereinafter referred to as Shishou Co., Ltd.) and has agreed to acquire 8.3% of Shishou Co., Ltd. through three accounts.

Zhao Xinglong arranged to open three securities accounts of Guo, Wang and Fu which were opened in the same business department on May 19, 2017. Later, Zhao Xinglong arranged to transfer the funds to the above three accounts, so Zhao Xinglong actually controlled the accounts of Guo, Wang, Fu and Shitou shares held by the account group (hereinafter referred to as the account group), and calculated the Shitou shares held by the account group. Zhao Xinglong arranged for the account team to buy 8.3% of lion head shares in the secondary market from May 25 to June 1, 2017.

2u3001 Zhao Xinglongs failure to fulfill the obligation of written report, notice and announcement

The account group bought lion head shares in large quantities within 4 trading days from May 25 to June 1, 2017. As of June 1, 2017, the shareholding ratio was as high as 8.3%.

When the shareholding ratio of the account group reaches 5% of the issued shares of the listed company, Zhao Xinglong fails to make a written report to the CSRC and the Shanghai Stock Exchange in accordance with the law, nor to notify the listed company and make an announcement.

Photo source: Photo Network

3u3001 Zhao Xinglong buys and sells shares within the restricted transfer period

From July 13 to September 19, 2017, the account group sold 9796800 shares of lion head stock, with the sales amount of 174766448 yuan. The remaining shares were sold by the securities company in April 2018.

Zhao Xinglongs agent proposed in the hearing:

First, Zhao Xinglong did not directly participate in the specific negotiation and operation of the acquisition of the shares of lion head, and the trading of shares was not his specific operation.

Second, the purpose of this stock transaction is to obtain the actual control right of lions head stock. However, due to the failure in the later period, we had no choice but to trade 8.3% of the shares in the relevant account and close the position, which caused huge losses.

Third, Zhao Xinglongs financial situation is difficult, and he is also listed in the list of those who are dishonest and executed, and the penalty amount is too large to be fulfilled.

Shanxi Securities Regulatory Bureau believes that the reasons for the defense of the parties are not tenable and are not accepted. There are two reasons:

First, the purpose of the transaction, whether to participate in the specific negotiation and operation of the acquisition, whether the acquisition is completed, and whether the specific operation of the account transaction do not affect the fact that Zhao Xinglong actually controls the three securities accounts of Guo, Wang and Fu, nor can it exempt him from the information disclosure after holding 5% of the shares and the suspension of the transaction within the relevant period Obligation.

Second, whether the transaction is loss making or capable of execution does not affect the fact finding of this case, nor does it belong to the situation of light reduction as stipulated in Article 27 of the administrative penalty law.

Finally, the CSRC made a decision on punishment: a fine of 500000 yuan will be imposed on Zhao Xinglong for failing to perform the obligation of written report, notice and announcement in accordance with the law, and a fine of 21.5 million yuan will be imposed on Zhao Xinglong for buying and selling shares within the restricted transfer period, totaling 22 million yuan.

Zhao Xinglong, male, was born in November 1955, and his address is Wuhua District, Kunming City, Yunnan Province.

In addition, the punishment announcement also shows that Zhao Xinglongs financial situation is difficult, and he has been included in the list of dishonest executors, and the punishment amount is too large to be fulfilled.

According to Chengdu Business Daily, Zhao Xinglong was born into a poor peasant family in Xiaohe village, Hegou Town, Pizhou City, in the 1950s. His father died early. Zhao Xinglong had to drop out of school to do farm work to help his mother survive, mow grass, pick chicken manure and plant fields. Zhao Xinglong had done everything. The chance coincided with the trade of jadeite.

Photo source: Photo Network

Zhao Xinglong once said that China has a tradition of collecting gold in troubled times and jade in prosperous times since ancient times. after the reform and opening up, the pursuit of jewelry by the people has gone through different stages, such as gold, ruby, diamond, etc., and now it is turning to emerald.

Through a series of equity transfer and asset conversion, Duojia shares officially changed its name to Dongfang Jinyu in August 2006. Zhao Xinglong successfully stepped into the A-share market and became the first and only actual controller of China jadeite industry.

Photo source: screenshot of the front page of Yunnan Information newspaper

In the third quarter of 2010, stimulated by the sharp rise of jade price in that year, Dongfang Jinyu was sought after by investors, and its share price also rose with it, up 160.3% in total, ranking the second among the three bull stocks that rose more than the market level, and one of the top ten demon stocks, known as Crazy Stone.

This has also become the most beautiful moment of Oriental Jinyu in Chinas capital market.

Dongfang Jinyu encounters debt crisis

Xu Xiang, known as the first private brother, was controlled by the police in November 2015 due to insider trading. In April 2016, Xu Xiang was arrested according to law. At that time, Xu Xiang was hotly debated by the market because he participated in the increase of Oriental jinyuding through Majia holding.

On April 11, 2016, Zhao Xinglong resigned as the chairman of the board of directors of the listed company on the basis of personal reasons after the dark warehouse incident was exposed. His vision of building an Emerald family by relying on Dongfang Jinyu and engaging in this business all his life has also come to an end. But it was this that brought Zhao Xinglong, who had not been known before, into the public view.

After Zhao Xinglong resigned, his son, born in 1981, obtained an MBA degree from Swiss business school. Zhao ningzi, then 35, succeeded him as chairman of Dongfang Jinyu.

Photo source: Photo Network

On August 16, 2018, the third intermediate peoples Court of Beijing froze 672 million shares of Dongfang Jinyu Co., Ltd. held by Yunnan Xinglong industry. The relevant execution ruling shows that there is no deposit or motor vehicle registration information in the bank accounts under the names of Yunnan Xinglong Industrial Co., Ltd., Zhao Xinglong and Zhao Ning, and there is no property available for execution.

Zhao Ning, son of Zicheng and his father, also submitted a written resignation report on August 4, 2019 after setting up the market value of Dongfang Jinyu changed from 10 billion yuan to 10 billion US dollars.

Judging from the latest quarterly report of 2019, Dongfang Jinyu is likely to lose money for two consecutive years. According to the third quarter report, Dongfang Jinyu achieved an operating revenue of 512 million yuan, a year-on-year decrease of 79.17%, and the net profit attributable to shareholders of the listed company was - 508 million yuan, a year-on-year decrease of 616.12%. Since 2018, the companys financing channels have been limited and liquidity has been difficult, Dongfang Jinyu said in the 2019 half year report. In the first half of 2019, there was no fundamental change in the debt situation, the companys capital continued to be tense, the frozen shares of the controlling shareholders were transferred, some accounts of the company were frozen, some assets were auctioned or disposed, and financing was still difficult. Whats more, the debt crisis of Dongfang Jinyu becomes more and more serious after the asset management products are exposed to overdue payment. The overdue payment started in July 2018 turned into a overdue project of up to 4.061 billion yuan in April 2019, involving multiple trusts, funds and banks. Daily economic news comprehensive securities times, Chengdu Business Daily, etc. source: daily economic news editor in charge: Wang xiaowu_nf

Judging from the latest quarterly report of 2019, Dongfang Jinyu is likely to lose money for two consecutive years. According to the third quarter report, Dongfang Jinyu achieved an operating revenue of 512 million yuan, a year-on-year decrease of 79.17%, and the net profit attributable to shareholders of the listed company was - 508 million yuan, a year-on-year decrease of 616.12%.

Since 2018, the companys financing channels have been limited and liquidity has been difficult, Dongfang Jinyu said in the 2019 half year report. In the first half of 2019, there was no fundamental change in the debt situation, the companys capital continued to be tense, the frozen shares of the controlling shareholders were transferred, some accounts of the company were frozen, some assets were auctioned or disposed, and financing was still difficult.

Whats more, the debt crisis of Dongfang Jinyu becomes more and more serious after the asset management products are exposed to overdue payment. The overdue payment started in July 2018 turned into a overdue project of up to 4.061 billion yuan in April 2019, involving multiple trusts, funds and banks.

Daily economic news comprehensive securities times, Chengdu Business Daily, etc