In terms of time, the starting point of St Kangmeis rise was close to the time when Ma Xingtian was forced to take measures. Sensitive funds or perceived the companys expectation of change of control right at that time. Facts have proved that relevant matters are indeed accelerating.
However, in the change announcement disclosed on July 16, St Kangmei also said that after self-examination of the company and written confirmation to the companys controlling shareholders, up to now, the company and the companys controlling shareholders have no material information that should be disclosed but not disclosed by the company, including but not limited to major asset restructuring, share issuance, acquisition of listed companies, debt restructuring, business restructuring and asset stripping Major issues such as separation, asset injection, share repurchase, equity incentive, bankruptcy reorganization, major business cooperation, etc.
Guangdongs state-owned assets are the object of scandal
St Kangmei announced on the evening of July 9 that the company received a notice from Ma Xingtians family members that Ma Xingtian had been taken compulsory measures by the public security organs for his suspected crime of illegally disclosing and failing to disclose important information. At that time, St Kangmei said in the announcement that Ma Xingtian had not held any position in the company since May 2020. At present, the companys production and operation is normal, the companys directors, supervisors and senior managers will strengthen the companys management to ensure the continuous and stable development of various businesses. The board of directors of the company will continue to pay attention to the progress of the above events and fulfill the obligation of information disclosure in a timely manner.
According to Caixin at that time, Ma Xingtian was forced to live under surveillance by the public security organs. Residential surveillance is a compulsory measure that the peoples court, the peoples Procuratorate and the public security organ restrict the suspects and defendants from leaving their residences or designated residences within a specified period of time, and monitor their behaviors and restrict their personal freedom.
The news of St Kang Mei Yi Zhu is also widely spread in the market. The object of the scandal is Guangdong state-owned assets. After the fraud incident, Guangdong Provinces support for St Kangmei has not been broken.
On August 16, 2019, St Kangmei and relevant parties received the prior notice of administrative punishment and market ban issued by the CSRC. The next day, the report group of Nanfang Daily, a newspaper of Guangdong provincial Party committee, went to Puning, where st Kangmei is located, to report on the production and operation of the company and convey confidence to the outside world.
According to the report at that time, for the future development, the relevant person in charge of Kangmei pharmaceutical industry mentioned that the company was accelerating the introduction of state-owned enterprises and state-owned assets platform for docking investment, introducing more standardized and efficient management mechanism, standardizing the internal management system of enterprises, promoting the transformation and upgrading of enterprises, and further expanding and strengthening the Chinese medicine industry. At present, the work is relatively smooth and effective, and the follow-up timely promote the implementation of relevant programs.
St Kangmei issued a notice at that time: as for the recent media reports on the introduction of state-owned assets by the company, it was verified that as of the date of this announcement, there was no specific cooperation plan on this matter. However, the above news still caused st Kangmei trading limit for 4 consecutive days, causing great controversy.
Then, on September 16, 2019, Guangyao group and Kangmei pharmaceutical signed a strategic cooperation agreement. According to e companys report at that time, the two sides will carry out cooperation in the fields of TCM supply chain management service, product channel service, inheritance and development of traditional Chinese medicine culture, so as to jointly help revitalize Da Nan Yao. Li Chuyuan, Secretary of the Party committee and chairman of Guangzhou Pharmaceutical Group, Ma Xingtian, then chairman and President of Kangmei Pharmaceutical Co., Ltd., and Xu Dongjin, vice chairman and executive vice president of Kangmei Pharmaceutical Co., Ltd., attended the signing ceremony and had a discussion. Li Chuyuan said that this cooperation is very meaningful, and it is also a positive attempt by state-owned enterprises to introduce private enterprises in the direction of mixed reform. There is still a lot of space for the two sides to explore cooperation in the field of big health industry.
Guangzhou Pharmaceutical Group is actually controlled by the state owned assets supervision and Administration Commission of Guangzhou Municipality. Guangzhou Pharmaceutical Group is the controlling shareholder of Baiyunshan (600332), a listed company. Baiyunshan and St Kangmei are in the same Chinese medicine track. Hand in hand with Guangzhou Pharmaceutical Group triggered the imagination of the market, St Kangmei in the secondary market harvest 3 limits.
St Kangmei announced the risk at that time, saying that the relevant agreement was only a principled and intentional cooperation agreement between the two parties to carry out strategic cooperation, which did not constitute legal liability and formal commitment, and did not have the legal effect of enforcement. The specific amount of money was not involved in this agreement. The specific cooperation mode and matters need further negotiation. The specific cooperation matters and methods are the contracts signed by the company and relevant entities It has no significant impact on the current production and operation of the company.
Ma Xingtian again punished by Shanghai Stock Exchange
On July 21, St Kangmei disclosed the Shanghai Stock Exchange disciplinary decision (hereinafter referred to as the decision). The letter of decision shows that according to the facts identified in the decision on administrative punishment ( No.24) and the decision on market ban ( No.6) issued by the CSRC and the relevant information disclosed by St Kangmei, Ma Xingtian, the companys actual controller and then chairman and general manager, Ma Xingtian, in terms of information disclosure and standardized operation, acted in concert with the actual controller and then deputy director Xu Dongjin, chairman and deputy general manager, has violations in the aspects of information disclosure, commitment performance and other aspects.
1. There are false records in the annual reports of 2016, 2017, 2018 and semi annual reports of St Kangmei, which increase the operating income, interest income and operating profit. In the annual reports of 2016, 2017, 2018 and the half year of 2018, St Kangmei falsely increased its operating revenue by 8.999 billion yuan, 10.032 billion yuan, 1.613 billion yuan and 8.484 billion yuan respectively, and the interest income was increased by 151 million yuan, 228 million yuan, 165 million yuan and 131 million yuan respectively, and the operating profit was increased by 656 million yuan, 1.251 billion yuan, 165 million yuan and 2.029 billion yuan respectively.
2. To January 30, 2016, the company will not make false accounts by means of false account keeping or false account keeping, and will not make false accounts with the bank on January 30, 2016. Through the above methods, the companys 2016 annual report inflated monetary capital by 22.549 billion yuan, 2017 annual report by 29.944 billion yuan, and 2018 semi annual report by 36.188 billion yuan.
3. There are false records in the annual report of 2018, such as false increase of fixed assets, construction in progress and investment real estate. According to the investigation, the six projects included in the adjustment of the annual report in 2018 did not meet the accounting recognition and measurement conditions. The fixed assets increased by 1.189 billion yuan, the construction in progress by 401 million yuan, and the investment real estate by 2.015 billion yuan.
4. From January 1, 2016 to December 31, 2018, the company provided a total of 11.619 billion yuan of non operating funds to the controlling shareholders and their related parties for the purpose of purchasing shares, repaying the financing principal and interest for the controlling shareholders and their related parties, prepaying the pledge money or paying the acquisition premium without the decision-making approval or authorization procedures. The amount of non operating funds occupied was large.
The company shall disclose the related party transactions of non operating funds occupied by the controlling shareholders and their related parties in the relevant annual reports, but the company has not disclosed the above-mentioned situations in the annual reports of 2016, 2017 and 2018, which has major omissions.
In view of the above violation facts and circumstances, the Shanghai Stock Exchange publicly denounced st Kangmei, Ma Xingtian, the actual controller and then chairman and general manager, Xu Dongjin, the actual controller acting in concert and the then vice chairman and deputy general manager, Qiu Xiwei, the then director, Secretary of the board of directors and deputy general manager, and so on, and publicly determined that Ma Xingtian, Xu Dongjin and Qiu Xiwei were not suitable for the post of the director for life The directors, supervisors and senior managers of the municipal companies publicly recognized that Zhuang Yiqing, the then chief financial officer, and Wen Shaosheng, the then supervisor, assistant to the general manager and deputy general manager, were not suitable to serve as directors, supervisors and senior managers of listed companies within 10 years. In the previous decision on administrative punishment made by the CSRC, the CSRC made a decision on administrative punishment and market ban on the illegal cases of Kangmei pharmaceutical industry according to law, and decided to order Kangmei pharmaceutical industry to correct, give a warning and impose a fine of 600000 yuan, impose a fine ranging from 900000 yuan to 100000 yuan on 21 responsible personnel such as Ma Xingtian and Xu Dongjin, and take 10 years to the end for 6 main responsible persons Measures to prohibit entry into the securities market. After the implementation of the administrative punishment, Ma Xingtian and his wife, the actual controller of St Kangmei, and other relevant responsible persons have resigned from their posts in the listed company. After that, St Kangmei added board members and senior executives, and Ma Xinggu and Ma hanyao joined the board, and the management was still dominated by Ma Jiajun. Extended reading review: Gem index bottomed up 1.11% and military vaccine stocks also changed face? As soon as it said that France would not ban it, it was revealed that Huawei Guojiao 1573 would raise the price: the price of the terminal under the guidance of comprehensive stop goods rose to 1399 yuan_ NF4425
In the previous decision on administrative punishment made by the CSRC, the CSRC made a decision on administrative punishment and market ban on the illegal cases of Kangmei pharmaceutical industry according to law, and decided to order Kangmei pharmaceutical industry to correct, give a warning and impose a fine of 600000 yuan, impose a fine ranging from 900000 yuan to 100000 yuan on 21 responsible personnel such as Ma Xingtian and Xu Dongjin, and take 10 years to the end for 6 main responsible persons Measures to prohibit entry into the securities market.