The illegal cost is too low big Kang animal husbandry for three consecutive years repeatedly violates the law

and pick news as of September 11 closed, the Big Kang Animal husbandry (002505, shares bar) the same day the share price fell 2.71%, in anticipation of investors with their feet to the company voted against. The former was investigated by Hunan Securities and Supervision Bureau, after the SSE punishment, for the various violations of the animal husbandry, Zhejiang Yufeng Law firm, senior partner Kingjian view, the root cause is the illegal cost is too low, which is the root cause of disregard of investors ' rights and interests. Performance face caused by the letter of the SSE notice too weak, the Shenzhen stock inform, after identified, Tai Kang husbandry and related parties have the following violations: Tai Kang Livestock in the October 29, 2012 disclosure of the third quarterly report, is expected to 2012 net profit of 22.78 million to 39.88 million yuan. February 25, 2013, the Hong Kang Animal husbandry released its performance Amendment notice, the 2012 annual net profit forecast was revised to a loss of 15 million yuan to 20 million yuan; April 24, 2013, the annual report of the 2012, the health and animal husbandry, audited 2012-year net profit for the loss of 18.9767 million yuan. The annual net profit forecast and the actual data disclosed in the third quarter report of 2012 were significant differences and were not corrected in time. SSE that the above behavior of the Tai Kang animal husbandry violates the provisions of article 2.1, 11th. 3.1, 11th. 3.3 of the stock Listing Rules (2012 Amendment). Company Chairman Chen Liming, former general manager Xia Zhengchi, financial controller Luo failed to fulfill his duties and perform good faith and diligence obligations, violating the provisions of the stock Listing Rules (2012 Amendment) 3rd. 1.5, the Company's board secretary Fangfang violated the stock listing rules (2012) 3rd. 1.5, 3rd. 2.2, the above personnel are responsible for the company's above violations. In view of the above violations and circumstances of the great Kang animal husbandry and related parties, pursuant to the provisions of article 17.2, Articles 17.3 and 17.4 of the SSE stock Listing Rules (2012 Amendment), the Disciplinary Committee has adopted the following measures: first, the punishment for the notification of the Great Kang animal husbandry; Chen Liming, former general manager Xia Zhengchi, chief Financial Officer Luo, director of the Board of Directors, Fangfang the punishment of the criticism. For the above violations and the above-mentioned disciplinary actions, the Shenzhen Stock Exchange will be credited to the listed company's integrity files and to the public. For this performance caused by the letter of the Group of violations, and pick September 11 has repeatedly contacted the director of the Office of Animal Husbandry Dong, its insiders told the company Dong Fangfang is currently out of the poor, the other is not convenient to respond. From the estimated profit of up to 40 million to the subsequent official loss of 18.97 million, but nearly four months, the gap between the two nearly 60 million is indeed a sharp drop in the eye. Kingjian, senior partner of Zhejiang Yufeng Law firm, said that the net profit of the 2012 forecast was up to 39.88 million yuan and four monthsAfter the revision of the forecast net profit-20 million yuan, the final audit net profit-18.9767 million yuan, this "turn Hands for cloud cover hand for rain" performance face, delay to disclose the way, belong to the typical information disclosure irregularities, there are misleading investors decision-making and lead to a significant loss of suspicion, SSE's paper is clearly not enough to punish such irregularities effectively. and pick according to the trend analysis of the stock price of the big Kang, Kang Animal husbandry October 29, 2012 The forecast growth of the stock price is 6.36, the revised loss this year February 25 when the stock price was 8.12, the share price rose to 27%. By April 24, when the official release of the results, the share price fell back to 7.26 yuan, if there are investors in the vicinity of 8 high buy, the loss degree is about 10%. Behind the three consecutive years of violations: The Chairman of the Board of directors, Dong not to repent in fact, for the listing of less than three years of the big Kang animal husbandry, the violation is not the first time. And pick inquires about the official website of Animal husbandry, the company's main business is pig, piglets, fattening pigs and feed production and sales. September 2010 was named "Top ten Agricultural industrialization leading enterprises in Hunan Province". At present, the company has an annual output of 250,000 pigs, feed 60,000 tons of production capacity. November 18, 2010, Tai Kang Animal husbandry official login A-share board. Is such a Hunan agricultural products (000061, shares bar) Bibcock the Enterprise, in just listed still less than a year after the Hunan Provincial Bureau of Supervision and administration. From May 16, 2011 to May 20, Hunan Bureau of Health and Animal husbandry carried out on-site inspection, after the inspection of the company has four major problems and 20 small problems. and pick query SSE released at the time of the rectification content shows that the four major problems are corporate governance problems, fund-raising changes to the review process is not in place, financial accounting treatment problems and information disclosure problems. Specific 20 small problems, also includes the acquisition of investment in the failure of the Board to review the proceedings, the Board of Directors of the meeting to vote the minutes of the meeting is not standardized, the general meeting of the shareholders, the procedure is not standardized, the company's constitution to be perfected, the company's financial management system to be refined and clear, some provisions The defects in the execution of the contract, the defects in the internal control of the financial accounting, the ability of the financial accounting business to upgrade, the insufficient disclosure of the funds, and the errors in the 2010 Annual report and the financial statements in the first quarter of 2011. A full two years later, with the big Kang animal husbandry this time again SSE to inform the criticism, it is not difficult to see that the previous committed so many mistakes did not really repent, because at that time, Hunan Securities and Supervision Bureau required the company to rectify the responsibility of the incumbent is also the chairman of the Chen Liming and Dong Fangfang A publicly listed company has made almost the same mistake for many consecutive times, according to Kingjian, it is more appropriate to make the administrative penalty for the animal husbandry and its sponsors in accordance with the illegal facts identified by the SEC in 2011, but the SEC only ordered rectification means that the illegal cost is almost zero, and the illegal cost is too lowThe forecast net profit letter in violation, disregard investors rights and interests of the root cause. At the same time, the financial situation of the first half of this year is worrying. The first half of the company to achieve business income of 439 million, an increase of 52.08% per cent, but the realization of the ownership of the listed company shareholders net profit of only 1.1404 million, down 95.88%. The explanation for the decline in the profit of the animal husbandry is that the price of live pigs has been depressed and the price of raw materials has increased, the average pig ration is below 6:1 in the first half of 2013; In August 2012, the company issued a corporate bond of 330 million yuan, the reporting period of interest led to a significant increase in financial costs; the company to optimize the industrial structure, respectively, in Changsha, Huaihua opened a cold meat direct shop, market development costs are large and has not yet realized profitability.