"Electric Eel Finance" Electric Eel No. / text
In the turbulent capital market, the road to listing of Boling Electric can be described as ups and downs. Once upon a time, this company had the dream of landing on the GEM, but in the end, it came back with a feather. Recently, some media reported that Boling Electric is planning to be listed on the Beijing Stock Exchange.
However, "Electric Eel Finance" paid attention to the fact that on September 19, due to inaccurate information disclosure and other violations, the new third board company Boling Electric received the "Decision on Ordering Corrective Measures to Ningbo Boling Electric Co., Ltd. and Issuing Warning Letters to Yuan Haizhong and Wang Chaoshun" issued by the Ningbo Securities Regulatory Bureau of Zhejiang Province, the company, some executives and audit institutions were taken regulatory measures.
Boling Electric Regulatory Letter Announcement
The facts disclosed in the announcement of Boling Electric's suspected violations of laws and regulations are as follows:
1. Boling Electric did not identify Ningbo Qiyi Plastic Industry Co., Ltd., which should be identified as a related party, as a related party of the company. From 2020 to January to June 2024, Boling Electric purchased 4.2306 million yuan, 20.8304 million yuan, 22.6665 million yuan, 30.1348 million yuan, and 15.9592 million yuan from Ningbo Qiyi Plastic Industry Co., Ltd. respectively.
2. From 2020 to 2021, Boling Electric successively provided loans to 6 suppliers including Ningbo Xinzhihong Electric Appliance Co., Ltd. From the end of 2020 to the end of 2023, the year-end balances of the loans provided by Boling Electric to the above six suppliers were 19.765 million yuan, 15.815 million yuan, 13.396 million yuan and 10.5196 million yuan respectively. In the periodic report from 2020 to 2023, Boling Electric has been accounting and disclosing the above-mentioned loans provided to suppliers as prepayments, and the relevant accounting is not standardized and the information disclosure is inaccurate.
Boling Electric Regulatory Letter Announcement
The content disclosed in the announcement shows that Boling Electric was punished/dealt with on the basis and results:
The Company violated the provisions of Article 3, Paragraph 1, Article 21 and Article 38 of the Administrative Measures for Information Disclosure of Unlisted Public Companies, and Article 13, Paragraph 1 and Article 21, Paragraph 1 of the Measures for the Supervision and Administration of Unlisted Public Companies.
The company violated the provisions of Article 3, Paragraph 1 of the Administrative Measures for Information Disclosure of Unlisted Public Companies and Article 21, Paragraph 1 of the Measures for the Supervision and Administration of Unlisted Public Companies.
Yuan Haizhong, the actual controller and general manager of the company, and Wang Chaoshun, secretary of the board of directors and chief financial officer, failed to perform their duties faithfully and diligently in accordance with Article 28 of the Administrative Measures for Information Disclosure of Unlisted Public Companies and Article 21, Paragraph 2 of the Administrative Measures for the Supervision and Administration of Unlisted Public Companies, and bear primary responsibility for the above-mentioned violations of the Company.
In accordance with the provisions of Article 65 of the Measures for the Supervision and Administration of Unlisted Public Companies and Article 45 of the Measures for the Administration of Information Disclosure of Unlisted Public Companies, the Ningbo Securities Regulatory Bureau decided to take supervision and regulatory measures against the company to order corrections, and recorded it in the integrity file of the securities and futures market. It was decided to take supervision and management measures of issuing warning letters to Yuan Haizhong and Wang Chaoshun, and recorded them in the integrity file of the securities and futures market.
Boling Electric Regulatory Letter Announcement
In the face of this series of challenges, the choice of Boling Electric will be crucial. Will it be able to regain the trust of the market in a more transparent and regulated manner? Can it respond to all doubts with tangible performance on the fertile soil of the Beijing Stock Exchange? This is not only a test for Boling Electric, but also an expectation for all those who pay attention to its development.
In the long river of the capital market, the story of Boling Electric continues. Every step of the road to IPO is full of variables and uncertainties, but as the ancients said: "Break and then stand, chaos and then rule." Perhaps it is these challenges and turmoil that will become a valuable asset on the road to the growth of Boling Electric, so that it will meet its own glorious moment with a more tenacious and mature attitude in the future.
"Electric Eel Finance" will continue to pay attention to the follow-up progress.