On the evening of June 10, the Shanghai Stock Exchange asked Wang Fujing to clarify the regulatory requirements for the companys business qualification of tax-free products and the fluctuation of stock price. Wang Fujing said in response to the market concerns in the announcement of abnormal stock fluctuation that the insiders of the company who know the business have not violated the confidentiality obligation.
On June 12, Wangfujing announced that the company has not yet substantially carried out tax-free business, nor conducted business negotiations with any customers and partners, nor signed any agreement. At present, the companys main business is still the retail business of taxable goods, and the tax-free business will not affect the companys operating performance in a short period of time. In addition to the above events, the company has no other sensitive information affecting the share price.
In fact, in the course of more than a months rise, the rumor that Wangfujing has obtained the qualification of tax-free products has been repeatedly mentioned by the market. There are more and more questions about the internal transactions caused by the leakage of Wangfujing tax-free qualification.
Previously, Li Jian, deputy director of Zhejiang Yufeng law firm, pointed out to the media that it is a major matter for the company to declare and obtain the tax-free license. Since Wangfujing and its controlling shareholder, ShouLv group, started to declare the tax-free business qualification business in April 2019, Wangfujing did not make relevant disclosure before April 2019 to June 9, 2019, which is suspected of misrepresentation. According to the lawyer, Wangfujing is indeed suspected of insider trading, but insider trading is often difficult to obtain evidence; from the perspective of false statements, Wangfujings problems are more obvious.
Whether there is a leak in Wangfujing has become the focus of the market. At present, the stock price of Wangfujing is still soaring, but there are still doubts.
Wang Fujings share price soared after being granted a tax-free license: business is temporarily difficult to become a cash cow
Will Wangfujing be licensed as a tax-free operator? Why is it an exception?
Wangfujing (600859), a listed company, has become the focus of attention due to the illegal disclosure of information suspected of tax-free business. In addition to Wangfujing itself, the Ministry of finance does not announce the approval of tax-free operators, and the CSRCs inquiry governance is full of doubts.