Sam Wood Group conceals related transaction and is accused of false statement

A paper on the decision of Administrative Supervision measures (hereinafter referred to as the decision book) exposure of the three Wood Group (000632, closing price 5.37 yuan) and Fuzhou Development Zone, China Wing Trading Co., Ltd. (hereinafter referred to as China wing trade) related transactions are not disclosed in the internal control of a number of issues. It is noteworthy that since 2008, the three Wood Group has been in public reports that there is no relationship between the China wing trade. From this point of view, the company is also suspected of false statements. The Securities and Regulatory Bureau ordered rectification of the three Wood Group 9th issued a notice, the company recently received the Fujian Securities Regulatory Bureau of the "decision book." After inspection by the Fujian certificate and Supervision Bureau, the company has not fulfilled the decision-making procedure and the disclosure obligation, and the major creditor's rights transfer agreement has not been disclosed, etc. According to the investigation, China wing Trade and Fujian China Wing Technology Co., Ltd. (hereinafter referred to as China Wing Technology) for the three-Wood Group related people. 2012, 2013, the three Wood Group and its subsidiaries and the China wing trade, respectively, 439 million and 932 million yuan of large related purchases and sales, respectively accounted for the company in the previous year audited net assets of 78.04% and 75.79%, the amount of money to be submitted to the general meeting of shareholders to review and disclose the standards. However, the group did not consider disclosing the associated transaction as required, nor was it disclosed in the corresponding annual periodic report. At the same time, in 2012 and 2013, the three-Wood Group and its subsidiaries and the China-wing trade related debt debts reached 470 million and 1.239 billion yuan respectively, 2012 of the listed companies and subsidiaries and the China-Yong technology related debt debts of the amount reached 86.0573 million yuan. In this respect, listed companies are not in accordance with the provisions of the periodic report on the implementation of the letter of obligation. In addition, the three-Wood Group did not disclose the related transactions with the three-wood garden, as well as with the benefits of Fuzhou Association. "Daily economic news" reporter found that the three-Wood Group information disclosure of loopholes in more than this. This March, the company and Wuyi Mountain three wood and China financing tube Fujian company Tripartite signed a 150 million-yuan agreement on the transfer of debt. The agreement amounts to a standard that needs to be disclosed in a timely manner, but is not disclosed by the company. March 2013, the company board of Directors considered agreed to the company and the spirit of eastern cooperation to develop Yongtai County related plots. March 30 that year, the listed companies only announced the auction land success, but did not disclose and the spirit of Eastern cooperation, information disclosure is incomplete. The decision also disclosed that the three-Wood Group has a violation of the high provision of funds to the director of the company to provide loans, hedging transactions, virtual reduction of assets and liabilities, individual fixed assets depreciation years and the company's accounting policies do not conform to corporate governance and financial accounting problems. External guarantee is suspected of "false statement" from the content of the decision book, China wing Trade and the three-Wood group transactions between the huge amount, it seems enough to enter the top five listed companies list of customers. However, the daily economic news reporter looked at the three-Wood Group's annual report in the past two years, found that the listed companies disclosed the top five customers list did not appear in China wing trade. For 2013 years, for example, sales Income ranked first for the Hongkongbowchemltd, the main income is 860 million yuan, the second to third place for the branch Yu-colored, Fujian Luqiao, main income is 429 million yuan, 119 million yuan. Untrue disclosure of customer status, which is probably the main reason for the concealment of related transactions between the two sides. Reporter from the fujian Trade and Industry Bureau website inquires, China Wing trade was founded in 1997, the registered capital of 15 million yuan, the company type of domestic joint ventures, legal representative for Chen. The current equity relationship is not known. In fact, before 2008, the three-Wood Group's external announcements, China wing trade has been as a "relevant party" exists. According to the three-Wood Group 2001 Annual Report, the company's initial investment in China-Yong trade 1.5 million yuan, the company in 2001 will be China's permanent trade 45% equity transfer, the transfer of holding the company's 30% stake. The Tri-Wood Group defines it as "an unrelated party that does not have a control relationship." The two sides traded in such a relationship for trade, security, etc. By 2005, the amount of associated transactions between the publicly disclosed companies had peaked. The three-Wood Group's sales revenue to China's permanent trade amounted to 87.9516 million yuan, accounting for 3.26% of the company's sales revenue. After 2006 years and 2007, the deal seems to have stopped. Strangely, by 2008, the relationship between the three-Wood Group and the China-wing trade has changed dramatically. In August of that year, the listed companies decided to apply for China wing trade 15 million yuan liquidity loan to provide joint and several liability guarantee, said the two sides have no relationship. This statement has since continued. During the ~2013 of 2009, the three-Wood Group was providing guarantees to the bank for the China wing Trade and called it "the external unit". Such a statement is clearly inconsistent with the reality. Wu Lijun, a lawyer at Shanghai Oriental Cambridge Law Firm, said that the "false statement" was in fact very clear, but it should be judged by the court, and it was not clear in the regulatory letter. He believes that the market should also pay attention to the recent trend of the three-Wood group price. Why in the case of the investigation and other bad news, the company's share price is bucking the trend of the rise, behind the hidden other factors?