The former chairman of Wantong science and Technology Co., Ltd. was accused of retaliation by its competitors

 The former chairman of Wantong science and Technology Co., Ltd. was accused of retaliation by its competitors

According to todays announcement of Wantong technology, the Gaoxin Branch of Hefei public security bureau decided to file the case of Zhou Fazhan, the former chairman of the company, who was suspected of job encroachment according to the provisions of Article 112 of the criminal procedure law of the peoples Republic of China.

According to the companys reply to the Shenzhen Stock Exchange in March this year, Wantong science and Technology Co., Ltd. listed three points of turnover in his statement on Zhou Fazhans performance during his tenure as chairman of the board of directors, in addition to presiding over the general meeting of shareholders, convening and presiding over the board of directors, respectively, including signing contracts with other enterprises without performing the companys internal approval procedures, At present, the known contract involves more than 16 million yuan; it violates the companys financial management system, approves and pays contract funds that do not meet the payment conditions, which are known to involve more than 3 million yuan; a business contract with a total amount of nearly 4 million yuan is divided into six contracts with a single contract amount of less than 1 million yuan, which are signed with three enterprises under the same controller respectively.

Pan Dasheng told the associated press that in view of the turnover behavior during Zhous cognition period, the companys internal audit department led a detailed internal audit and rectification. The company said that up to now, Zhou Kaifa has not held any position in the company, and the above matters will not have a significant adverse impact on the normal production and operation of the company.

In fact, the southern Silver Valley also has a counterattack. Li Zhen, the vice-chairman of the board of directors, was suspected of bribing the companys vice-chairman for two months and was suspected of bribery as the companys vice-chairman for two months. Zhou Xuan did not disclose the follow-up to reporters.

In 2018, Nanfang Silver Valley first participated in the private placement of listed companies, and then accepted the voting power entrustment of the original controlling shareholders, and gradually obtained the control right of the listed company and became the owner of Wantong technology.

According to the semi annual performance forecast released by Wantong technology, the company is expected to make a profit of 20.81-28.61 million yuan in the first half of the year, down 45% - 60% from 52.02 million yuan in the same period of 2019. As for the reasons for performance changes, Wantong technology explained that due to the impact of Xinguan epidemic, the companys upstream and downstream enterprises resumption of work and production were delayed, which affected the progress of project construction and settlement, resulting in a year-on-year decrease in operating revenue and a year-on-year decrease in net profit during the reporting period.

Source: CFA editor in charge: Zhong Qiming_ NF5619