The latest claim news of Tongfang shares:
On July 2, 2024, Tongfang Co., Ltd. (hereinafter referred to as the "Company") recently received the Decision on Issuing Warning Letters to Tongfang Co., Ltd. and Liang Wuquan ([2024] No. 157) (hereinafter referred to as the "Warning Letter") issued by the Beijing Supervision Bureau of the China Securities Regulatory Commission. The main contents of the announcement are as follows:
1. Inaccurate financial accounting. First, there is a cross-period problem in the accounting of investment income, which leads to inaccurate accounting of relevant investment income from 2018 to 2023. Second, the improper accounting treatment of R&D expenditure of individual projects led to inaccurate accounting of R&D expenditure and inventory in 2022. Third, some procurement businesses have prepaid accounts and accounts payable at the same time, resulting in inaccurate accounting of prepaid accounts, accounts payable and corresponding asset impairment losses from 2020 to 2023. Fourth, the aging of individual overdue commercial acceptance bills is not continuous, resulting in inaccurate accounting of the corresponding bad debt provision from 2020 to 2022. Fifth, in 2021, individual subsidiaries did not strictly implement impairment-related accounting policies and omitted to make provision for bad debts of prepaid accounts.
2. Inaccurate information disclosure. First, the accounting accounts related to the prepayment of land were improperly collected, resulting in inaccurate disclosure of prepaid accounts and other non-current assets in 2020 and 2021. Second, the disclosure of bad debt accrual policies related to long-term receivables in 2021 and 2022 was inaccurate. Third, the disclosure of other comprehensive income amounts in the statements of important associates was incorrect. Fourth, the implementation of new accounting standards by some shareholding companies in 2019 and 2021 affected the inaccuracy of relevant accounting data and disclosure.
At the same time, the implementation of Tongfang's share financial system is not standardized. First, insufficient attention has been paid to the signs of impairment of long-term equity investment, goodwill, intangible assets, development expenditures and other accounts, as well as the abnormal situation of impairment test and assessment, and various internal controls related to asset impairment need to be strengthened; Second, the same type of inventory adopts different methods of inventory decline accrual; Third, the difference between the expected loss model such as "migration rate" and the impairment of the aging portfolio of accounts receivable is not fully considered; Fourth, the contract assets of some subsidiaries were not accurately divided into aging portfolios in accordance with the company's impairment-related policies.
In accordance with Articles 51 and 52 of the Administrative Measures for Information Disclosure of Listed Companies (Decree No. 182 of the CSRC), our bureau decided to take administrative supervision measures of issuing warning letters to Tongfang Shares and Liang Wuquan, and included them in the integrity file of the securities and futures market.
According to the Securities Law and the Several Provisions of the Supreme People's Court on the Trial of Civil Compensation Cases Arising from False Statements in the Securities Market, listed companies shall be liable for civil compensation if their rights and interests are damaged due to illegal information disclosure and misrepresentation, and the injured investors have the right to claim compensation for losses.
The reference conditions for Tongfang's share claim are as follows:
Those who bought 600,100 Tongfang shares between April 26, 2019 and June 28, 2024, and sold or continued to hold them after July 1, 2024 (inclusive).
The above claim registration conditions only represent the views of Xie Baoping's lawyer team, and are not used as any securities investment decisions and trading suggestions, and are subject to the final determination of the court.
Basis for violation of Tongfang shares:
On July 2, 2024, Tongfang Co., Ltd. received the Decision on Issuing Warning Letters to Tongfang Co., Ltd. and Liang Wuquan ([2024] No. 157) issued by the Beijing Supervision Bureau of the China Securities Regulatory Commission.
The current hot solicitation of shares is as follows:
002052 Tongzhou Electronics, 300766 Daily Interactive, 000523 Guangzhou Langqi, 600289 Yiyang Information Communication, 002086 East Ocean, 603111 Kangni Electromechanical, 600589 Guangdong Rongtai, 600387 Haiyue Energy, 300427 Hongxiang Co., Ltd., 300078 Sichuang Yihui, 6003377 Guangyuyuan, 600831 Radio and Television Network, 600185 Gree Real Estate, 000613 Dadonghai, 300585 Aolian Electronics, 000506 ST Zhongrun, 600748 SIIC Development, 002647 Rendong Holdings, 002247 Juli Culture, 000663 Yongan Forestry, 300526 Zhongqian Shares, 000802 Beijing Culture, 601101 Haohua Energy, 002471 Zhongchao Holdings, 300330 Huahong Jitong, 002569 Busen Shares, 002470 Kingenta, 002656 Modern Avenue, 600343 Aerospace Power, 002235 Anne Shares, 601113 Huading Co., Ltd., 000700 Molding Technology, 300555 Road, 300310 Yitong Century, 000004 Guohua Network Security, etc.