crazyfreespin| ST Gao Hong received a warning letter from the China Securities Regulatory Bureau and a supervision letter from the Shenzhen Stock Exchange

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On May 15, ST Gao Hong (000851) announced in the evening that due to the inaccurate business situation of Guotang Automobile Co., Ltd., which was disclosed on July 12 and July 13, 2003, Guizhou Securities Supervision Bureau decided to take administrative supervision measures of issuing warning letters to the company, Chairman Fu Jinglin and Board Secretary Ding Mingfeng, which should be recorded in the integrity files of the securities and futures market.

On the same day, the Shenzhen Stock Exchange sent a supervision letter to ST Gao Hongfa, requiring the company and related personnel to strictly abide by the information disclosure regulations. ST Gao Hong did not mention that Guotang Motor has no new energy vehicle production qualification in several announcements, and did not give the relevant risk warning, and did not disclose the relevant announcement and add corrections until September 20, 2023. The Shenzhen Stock Exchange believes that this kind of behavior may mislead investors and violateCrazyfreespinThe relevant provisions of the Stock listing rules (revised in 2023).

The Shenzhen Stock Exchange pointed out that on July 12 and July 13, 2023, ST Gaohong disclosed the announcement on changing part of the raised funds for Foreign Investment and related transactions, and the announcement on changing part of the raised funds for Foreign Investment and related transactions (after correction), and proposed to change the vehicle network series product development and industrialization project to raise 200 million yuan to increase capital holding Guotang Automobile Co., Ltd. (referred to as "Guotang Automobile"). Guotang Automobile Co., Ltd. is a new energy bus manufacturer. It is a large-scale vehicle manufacturing enterprise integrating vehicle design, R & D, production and sales, covering new energy buses, special vehicles, self-driving buses, self-driving collection vehicles, self-driving mine cards and so on. "

On September 20, 2023, ST Gao Hong disclosed the "correction announcement" and the "announcement on the change of partial raised funds for foreign investment and related party transactions (after supplement and correction)" that the company's "announcement on changing partial raised funds for foreign investment and related party transactions (after correction)" disclosed on July 13, 2023, the description of the business situation in the description of the subject matter of the transaction was not accurate. The business situation of Guotang Automobile is corrected as "Guotang Automobile itself does not have the qualification for the production of new energy vehicles, but it has the qualification for the production of passenger cars, special-purpose vehicles and tourist vehicles. It has a special product design and R & D center, sound testing and experimental equipment, and has the ability of vehicle design and testing. The new energy bus sold by Guotang Automobile is assembled by purchasing the chassis of the new energy bus. At present, the new energy bus chassis sold by Guotang Automobile is purchased and provided by manufacturers with the qualification of new energy vehicle production. "

In many previous relevant announcements, the company did not mention that Guotang Automobile itself does not have the qualification for the production of new energy vehicles, and that the new energy buses sold by Guotang Automobile are assembled through the outsourcing of new energy bus chassis, and there is no relevant risk hint, it will not be supplemented until September 20, 2023 when the relevant announcement is disclosed, which may mislead investors. The above acts violate the relevant regulations.

As of May 15, ST Gaohong shares were trading at 3.Crazyfreespin.01 yuan per share, down 5.05%, with a total market capitalization of 3.485 billion yuan.

(article source: read Chuang)