Purchasing chaos billion yuan buying million yuan of goods condemned the Shanghai science and technology

150 million yuan to purchase large shareholders related to the procurement of goods value is only 429 thousand and 900 yuan, and a number of violations of information disclosure, Shanghai science and technology and its executives yesterday was handed to denounce the Shanghai even publicly identified their former chairman Zhang Jie to serve as directors of listed companies.

In March 25, 2005, Shanghai science and Technology Association and enterprises in Nanjing port import & Export Co. Ltd. initialed the 150 million yuan of the total electronic commodity purchase agreement, and in April 30th to pay 150 million yuan purchase. The major related party transactions in June 17 by the general meeting of shareholders. But recently verified by the regulatory authorities, as of June 30th, the company actually commissioned by the Nanjing port purchase commodity value of only 429 thousand and 900 yuan.

At the same time, the Shanghai stock exchange that the Shanghai science and technology and its executives irregularities in Information Disclosure: Shanghai science and technology in the year 2004 to raise funds to invest in change, will be 110 million yuan into the GaN based high brightness semiconductor materials and devices, and commissioned by the port of Nanjing on behalf of the procurement of equipment, total prepayments amounted to 162 million 367 thousand and 500 yuan. After the company decided to terminate the implementation of the project, but the advance payment is not timely recovery. The company did not disclose the major events in a timely manner.

April 2005, Shanghai science and technology related enterprises - Jiangsu Jin Jie International Freight Forwarding Co., Ltd. to 56 million yuan to the company. The major related transactions or by the board of directors and the shareholders' meeting, also not be disclosed in a timely manner.

The Shanghai stock exchange that the serious violations of the "Shanghai Stock Exchange Listing Rules" (hereinafter referred to as the "Listing Rules") Article 2.1, 2.2, 7.5, 10.2.5 and other relevant provisions, the former chairman Zhang Jie, director Ye Qimin, Ren Jianhong, Zheng Jiang, Li Deping, Mao Jian, Wang Fukang, the board of supervisors and financial department minister Ye Guohua Hu Liang failed due diligence on the company information disclosure violations can not shirk its responsibility, the serious violations of the provisions of article 3.1.4 "Listing Rules" and the "board of directors (supervisors and senior management personnel) and promised to make a statement in the book" commitment. According to the provisions of the "Listing Rules" article 16.2 and article 16.3, the decision of the Shanghai science and technology and the former chairman Zhang Jie, director Ye Qimin, Ren Jianhong, Zheng Jiang, Li Deping, Mao Jian, Wang Fukang, supervisors Ye Guohua and financial department minister Hu Liangyu to denounce, and open that Zhang Jie is not suitable for the board of directors of listed company.

It is understood that the Jiangsu Jin Jie, Nanjing port is the controlling shareholder of Nanjing Siweite group associated enterprises, as of June 30th this year, the affiliated enterprise controlling shareholders occupy funds has reached 382 million yuan. In September 27th, the Commission sent a letter of supervision to the Shanghai science and technology.

As the discipline, the SSE will be submitted to the Shanghai Municipal People's government, and it is included in the listed company credit records. China Business Times