There are still many problems to be solved when the company is put on file for investigation this time: are the sponsor securities companies in charge of supervision and the intermediary agencies such as the recommendation agency and audit institution when applying for the selection layer, need to bear joint and several liabilities? Can investors who have suffered huge losses be able to claim compensation?
The stock price plummeted 90% and the main business was suspended
It was founded in 2005 and mainly engaged in the production and sales of Blu ray products. The company was listed on the new third board in June 2014, and entered the innovation level for four consecutive years from 2016 to 2019. It is also the first listed company to adopt market making trading.
At the end of April this year, the company announced that it intends to apply for the selected layer. After official propaganda rushed to the selected layer, the stock price of blue mountain technology increased significantly, and the number of investors increased significantly.
According to the prospectus of blue mountain technology public offering, the company plans to select standard 3 the market value is not less than 800 million yuan, the operating revenue in the latest year is not less than 200 million yuan, and the total R & D investment in the last two years accounts for no less than 8% of the total operating revenue of the last two years.
In the inquiry letter, the company focused on the R & D mode, R & D expenses and expenditures, and the high equity pledge of major shareholders. According to the data, as of the end of 2019, the controlling shareholder of blue mountain technology, cyber Hong Kong, held 234.1596 million shares and pledged 200 million shares. In mid May this year, cyberhk pledged another 20 million shares. The proportion of major shareholders equity pledge exceeds 90%.
At the end of September, the national stock transfer company issued a declaration for termination of blue mountain technology. Since then, blue mountains share price has plummeted. Data show that the companys stock price was 5.19 yuan / share before the suspension, and the latest share price was about 0.28 yuan / share, with a drop of 94%.
At the same time, the company has issued announcements that the company and its subsidiaries are listed as Executees, some directors, supervisors and senior executives resign, and the main business is in a state of suspension.
Investors can investigate the liability of the illegal subject
In the process of self-discipline review of national stock transfer companies and on-the-spot inspection by CSRC, it is found that the authenticity of information disclosure of Lanshan technology is questionable, and it is suspected of violating the relevant provisions of the securities law and the measures for the supervision and administration of unlisted public companies, etc., and the CSRC shall initiate a case filing investigation on Lanshan technology in accordance with the procedures. The SFC said.
Blue Mountain Science and technology has been put on file for investigation this time. Are the sponsor securities companies responsible for supervision and the intermediary agencies such as the recommendation agency and audit institution when reporting the selection layer need to bear joint and several liability? According to the investigation, if the intermediary needs to bear the corresponding responsibility, it will be punished accordingly. At the same time, the SFC reiterated its zero tolerance attitude towards violations of laws and regulations. The CSRC said that in the next step, in accordance with the strategic deployment of the Party Central Committee and the State Council on financial services for small and medium-sized enterprises and the real economy, and in accordance with the requirements of system building, non-interference and zero tolerance, the CSRC will continue to improve the basic systems, improve the inclusiveness and accuracy, and crack down on financial fraud and information disclosure violations And the serious dereliction of duty of intermediary agencies and other illegal acts that disrupt the market order, prevent breaking through the barrier with illness, purify the market ecology, and protect the legitimate rights and interests of investors. Source of this article: Guo Chenqi, editor in charge of first finance and Economics_ NBJ9931
At the same time, the SFC reiterated its zero tolerance attitude towards violations of laws and regulations.