Public and share illegal misappropriation of funds to save malicious circle money Suspicion

Sina Financial client: A-share Shanghai film line display pressure gem or will return to Beijing News (reporter Ma Yuan bellidifolin recruit) on the one hand refinancing project all miscarriage, on the other hand illegally misappropriation of fund-raising, recently, the public and shares (002070) to earn enough market eyeball.　　In the opinion of analysts, the company's previous refinancing is likely to be suspected of malicious circle of money. Yesterday, the public and shares announced that the company because of illegal misappropriation of funds by the Fujian Securities Regulatory Bureau ordered rectification. Originally, the public and shares in the absence of a resolution of the Board, without information disclosure, will raise funds in the 80 million yuan for the acquisition of the project's credit certificate to a company in Jiangsu. However, this is not the most controversial thing, but also let the market daydream is that the money turned out, the same day returned to the public and shares, and transferred to the company's general bank account.　　Subsequently, the public and shares will use the funds to supplement the company's liquidity and repayment of bank loans. "This reflects the problem that the takeover of the public and the shares may be false, it may be in this way to transfer funds to the company's own funds to use, because the use of fund-raising is very strict, generally can only be used to raise investment projects, not only to deposit money in the dedicated account, and the issuer, Investment banks and banks are required to sign tripartite regulatory agreements, and each payment will need to be signed by the parties concerned.　　"said a senior executive at a public company in the south. Public information shows that the funds appropriated by the public and shares were raised by the company in May 2011 for non-public offerings.　　At that time, the public and shares raised a total of 417 million yuan, according to the plan, of which 106 million yuan is used for investment in the construction of 13.2 million meters of liquid ammonia-linked finishing high-grade fabric project, 211 million yuan is to invest an annual output of 22 million meters high-grade printing and dyeing fabric production equipment technical renovation project; Another 100 million yuan is used to return bank　　However, a review of the performance of the public and the shares after refinancing will find that the company's problems may not only be illegal misappropriation of fund-raising so simple. Beijing Commercial News reporter noted that the public and shares four years ago when refinancing promised to invest in the project is not a successful implementation of the completed, exactly, has been completely aborted.　　In the opinion of analysts, all kinds of signs have revealed a signal: the public and shares have through the manufacture of investment projects to defraud the suspicion of refinancing qualifications. These speculations are not unfounded. In fact, last year this newspaper did an article on the market questioned the public and the shares in the capital in place to the Xiamen Planning Bureau to adjust the nature of the project land, and terminate the "annual output of 22 million meters high-grade printing and dyeing fabric production equipment Technical renovation project" in the reasonable sense of the report (see June 14, 2013, Beijing After raising funds in place, the project could not implement the public and shares hastily refinancing was blasted "). In response to this, a Beijing market personage pointed out that the listed companies before the commencement of refinancing, will be the first research to raise investment projects, the land nature of the project is generally not easy to occur accounts, if change,It cannot be unclear after the investigation, unless it is done without careful investigation, or in order to get the money to hide facts from investors and regulators. For the public and the shares of these acts, the analyst said, "from perceptual sense, it may be malicious circle of money suspicion." It is worth mentioning that the current public and shares in the suspension of the planning of a new issue of private offerings.