Two needles "lightly sentenced" for future or criminal retrospective

After more than three years of investigation, a series of "scandals" and two needles (600249) have been filed for investigation by the SFC in 2007 years.　　SH) finally ushered in the closing notice, the company also received a Securities and Futures Commission issued the "Administrative penalty decision book."　　In the "Decision of administrative punishment" issued by the SFC, the two needles are pointed out to coexist in 3 illegal facts, respectively, for the 2003 Income and Profits, 2004, 2005, the false increase of profits.　　Although the two-pin troubles seem to be over, the company's troubles may be far from over for professionals, and there may be more severe criminal penalties awaiting them. Future or criminal retrospective "The SFC's punishment for both needles and related persons is obviously too light."　　"One of the investment bankers who had paid attention to the two-pin case confessed to this reporter.　　In fact, according to the SFC's closing notice, two needles have obvious fraudulent listing behavior, and in the aforementioned "Administrative penalty decision" did not make this definition, nor the responsibility of the relevant persons responsible. Not only that, Guangzhou Securities as the main underwriters and listed referees, and not because of the two-pin fraud listed by any penalty.　　Participate in two-pin listed and audit work of another intermediary agency Shenzhen Dahua accounting firm also did not receive any punishment.　　Two pins the 2003 annual report disclosed the main business income of 586 million yuan, the main business cost of 419 million yuan, the total profit of 6796.89 yuan, net profit of 40.9679 million yuan.　　However, according to the SFC investigation of the two needles company's illegal facts show that 2003 two needles through false sales and less advertising cost of the way the virtual increase in profits amounted to 88.5161 million yuan, which means that the two needles of the year's net profit losses.　　In fact, the losses on both sides of the needle are symptomatic in the company's prospectus. The two-pin prospectus from Guangzhou Securities show that in the first half of 2003, the main business and profitability of the two needles showed signs of shrinking. The data showed a 19.55% and a 51.97% drop in corporate revenue and net profits in the current period.　　The company attributed the performance of the landslide phenomenon to "SARS" and other objective factors.　　Relevant data show that the two-pin market time for the January 30, 2004, which undoubtedly shows that the two-pin 2003 profit is the direct aim of the listing, and in the opinion of professional legal persons, this behavior has constituted fraudulent listing. And the former reporter interviewed the securities dealers are worried, "the alleged fraud listed in the relevant liability party's punishment so light, or even do not pursue, tantamount to encouraging business packaging listing, and even encourage similar to the two-pin such a substandard enterprise malicious fraud listed."　　"The two needles escaped the punishment perhaps much more than this. As early as two needles by the SFC case investigation, that is, the report of the relevant reporters found that the two-pin executives have the use of CITIC Securities equity trading profit suspicion, as well as two needles suspected of hiding Yangzhou project related to major assets and other issues.　　Investors are surprised that, in addition to the three consecutive years of false profits and other issues were disclosed, the above-mentioned doubts in the SFC issued a closing notice has not been mentioned.　　Even so, the legal profession interviewed by reporters argued that the trouble with the two needles would not end with the conclusion of the SFC. According to the legal profession, in May 2010, just issued by the Supreme People's Procuratorate and the Ministry of Public Security, "on the criminal cases under the jurisdiction of the public security organs of the provisions of the Prosecution Standards (ii)", proposed in the prospectus to fabricate significant false content, as long as the suspected issue amount of more than 5 million　　Should be filed for prosecution. Both sides of the disclosure of information revealed that the company 2004 when the listing of funds up to 683 million yuan, far higher than the 5 million-yuan prosecution standards. Not only that, the above document also stipulates that in the company's financial accounting report loss disclosed as profit, or falsely increase profits to achieve the current disclosure of the total profit of more than 30% of the acts should be filed for prosecution, "obviously even if no other issues, The act of increasing profits for three consecutive years has already constituted a new standard for prosecution of criminal cases.　　The legal profession admits. Both sides of the needle do not agree, "now closed, no further investigation."　　The staff interviewed by reporters said. "As long as the SFC will normally hand over the materials to us, we will continue to investigate them."　　"A person who works in the relevant regulatory department, said to the reporter on this issue."　　The offending executive is still in office. It also shows that both sides of the needle falsely increase income and profit mainly through the virtual increase in sales and less advertising fees and other means.　　Based on the above illegal facts, the SFC to two needles and related responsible person to give a number of penalties, both sides of the company was warned to punish, and fined 600,000 yuan.　　Liang Yingchi, Chen Lixia, Handong, Wang Weimin, Hudeshu, Fang, Huangzhongya, Yuaijiang and Lin-Huang and other related responsible persons were warned and 30,000-300,000-yuan fine.　　As of the date of the announcement, our correspondent found that most of the 9 persons responsible have already left the listed company, but Wang Weimin and Lin-Huang are still in the company as executives and directors. The reporter found that the Wang Weimin of the directors and secretaries of both sides of the two needles were other directly responsible persons who reported false records from 2004 to 2005.　　At the time, the director of the two sides of the Lin Diamond is the 2005 annual report false records of other directly responsible personnel. In fact, Wang Weimin has served as chief financial Officer, director, Vice president and chief executive of the company before the two-pin listing.　　Lin Diamond in the company before the listing has served as deputy general Manager position.　　Investors were surprised, however, that while the company was under investigation, Wang Weimin and Lin, the company's directors and executives, are still serving on two-pin companies. Both sides of the latest data show that Lin drilling Huang and Wang Weimin are currently directors of the company, in addition to Lin Diamond Huang also served as president of the company, Wang Weimin as vice president and secretary of the post.　　July 19 This reporter called Two needles, a director of the office told reporters Dong Secret Wang Weimin not in the office, the staff also said the company did not discuss the above executives after the violation will resign and so on. "According to the company law, directors and executives of companies shall comply with laws and administrative regulations, but there is no definition of violations of administrative regulations, so the specific characters do not meet the qualifications of the relevant departments to make judgments on specific situations." "A sponsor at a brokerage's investment banking department told reporters.