Zhangzidao chairman of the board of directors in full bloom and ruthless words: will sue the Securities Regulatory Commission to the court!

category:Finance
 Zhangzidao chairman of the board of directors in full bloom and ruthless words: will sue the Securities Regulatory Commission to the court!


Reporter: do you agree with the notice of the CSRCs proposed punishment?

Wu: we believe that there is no factual basis, and the regulatory authorities should not take the evidence prepared on the assumption as the basis of administrative punishment.

This penalty is based on the trajectories of fishing vessels. They (China Securities Regulatory Commission) entrusted zhongkeyutu (full name of zhongkeyutu Technology Co., Ltd.) and Donghai Institute of Chinese Academy of Water Sciences (full name of Donghai Fisheries Research Institute of Chinese Academy of Fishery Sciences) to calculate the area of our fishing boat operation according to the navigation trajectory, and then compared it with the area of our financial accounting. Because of the difference between the calculated area and the book area, they (the CSRC) said that we made a fake.

In my opinion, such evidence is only based on a general track map which is divorced from the actual production operation and has not been tested on site, and the point position of the calculated track is not accurate or complete. There is no legal basis for judging our financial fraud by only two deduction reports.

Reporter: how do you think it is appropriate to calculate, verify or supervise?

Wu: as a listed company, its normal to be questioned, but any industry has its professionalism. In the last natural disaster event, it is the most correct choice to listen to experts opinions. And several expert opinions were not adopted by CSRC.

I think the CSRC should at least go to the scene to understand our production and operation mode, which is the first one. Second, he (the CSRC) must inform us in advance that the track is used for production management and area calculation, which can only be used as a basis on the premise that we know it.

Reporter: I have informed you in advance. Can it be regulated?

Wu: the CSRC sent more than 30 inspection teams to investigate for 17 months. We didnt find any financial fraud. It may be affected by some public opinions long-term untruthful or even maliciously defamatory reports on Zhangzi Island, so we used the method of track measurement (in fact, hypothetical extrapolation). This is obviously not in line with the reality, and it is inevitable that there will be differences. Can the evidence produced by this human factor that is inconsistent with the actual production operation and cannot be compared be used as the evidence of very rigorous financial data fraud? It should not be regarded as the basis of administrative punishment, nor can it stand the test of law!

Reporter: you mentioned negative reports, regulatory letters and other regulatory measures, which have some negative effects on the company. What are the main negative effects?

In particular, as a listed company, our operation in the capital market, including some asset disposal and major asset expenditure, has not been possible. This puts a lot of pressure on the company.

Since 2019, we have received seven or eight letters of concern. Busy with these all day, the team felt very tired and affected the normal business. I would also like to appeal to all parties here, considering the pressure of natural disasters in Changdao County, to give us some strength, some trust, and let us revive our momentum.

Reporter: did the company apply for reconsideration and give legal opinions on some letters or investigations and punishments at the regulatory level?

Wu: we cant be punished like this. If the punishment is not fair according to law, we will sue for justice.

Reporter: if you want to overturn all the negative news and regulatory penalties, its not enough just to say, but also to have information. What materials do you have in hand to provide to the media and the public?

Wu: in the end, the inspection and investigation of the regulatory authorities should be made public. This is one aspect. The second aspect is that most of the materials we need to submit have been submitted to the CSRC, and all the materials we submit can be made public to the public.

On February 9, 2018, Zhangzidao received the notice of investigation (No.: lzz [2018] 001) issued by CSRC. Due to the companys suspected illegal information disclosure, according to the relevant provisions of the securities law of the peoples Republic of China, CSRC decided to put the company on file for investigation.

On July 9, 2019, Zhangzidao received the notice of administrative punishment and market prohibition of China Securities Regulatory Commission issued by CSRC (punishment No. [2019] 95).

2 specific details

3. Punishment 1. Give a warning to Zhangzidao Group Co., Ltd. and a fine of 600000 yuan; 2. Give a warning to Wu Hougang, Liang Jun, sun Fujun and Gou Rong and a fine of 300000 yuan respectively; 3. Give a warning to Chengjia, Zhao Ying, Zou Debo and Shi Jingjiang and a fine of 200000 yuan respectively; 4. Give a warning to Tang Yan, Yang Yujian, Liu Hongtao and Zhang Kan and Five, give a warning to Zhao Zhinian, Zou Jian, Chen Benzhou, Cong Jinxiu, Wang Tao, Luo Weixin, Chen Shuwen, Wu Xiaowei and impose a fine of 50000 yuan respectively; six, give a warning to Li Jinliang, Cao Bingcai, Liu Zhongbo, Jiang Yubao and impose a fine of 30000 yuan respectively

3 punishment

1u3001 To give a warning to Zhangzidao Group Co., Ltd. and impose a fine of 600000 yuan;

2u3001 Wu Hougang, Liang Jun, sun Fujun and Gou Rong were warned and fined 300000 yuan respectively;

3u3001 The family, Zhao Ying, Zou Debo and Shi Jingjiang were warned and fined 200000 yuan respectively;

4u3001 Tang Yan, Yang Yujian, Liu Hongtao and Zhang Kan were warned and fined 80000 yuan respectively;

6u3001 Li Jinliang, Cao Bingcai, Liu Zhongbo and Jiang Yubao were warned and fined 30000 yuan respectively