Xiamen Xinda Information Disclosure Violation was ordered to rectify within a time limit

Due to information disclosure violations, Xiamen Xinda recently received a decision from the Xiamen Securities Regulatory Bureau to correct the decision.

Xiamen Xinda announced on the 19th that the Xiamen Securities Regulatory Bureau recently conducted an on-site inspection of the company. The company received a decision to take corrective action, which pointed out the problems found in the inspection and proposed rectification requirements.

The "three sins" of Xiamen Xinda are listed in the decision book. First of all, in 2013, some of the businesses in the sales and sales of shelf cattle and cathode copper carried out by Xiamen Xinda and its subsidiaries were mainly engaged in agency business or did not bear the main risks and rewards of the goods, but Xiamen Xinda confirmed the sales revenue by the total amount, resulting in 2013. More than confirmed sales income of 904 million yuan.

Secondly, Xiamen Xinda's 2013 financial statements do not disclose the situation and reasons for the inability to handle property certificates for fixed assets such as multi-storey warehouses at No. 9 Xinglong Road, Xiamen, and 4S shops on the leased land.

In addition, on March 4, 2014, Xiamen Xinda Subsidiary Company, Xinda Optoelectronics Technology Co., Ltd. received a financial subsidy of RMB 30 million from “Technology Three” and included the full amount of the financial subsidy in the first quarter of 2014. Non-operating income. As the subsidy is related to the LED packaging and application product project of Xiamen Xinda Subsidiary, the project has not yet started construction, and the one-time income and profit in the current period are not standardized.

In response to the above problems, Xiamen Securities Regulatory Bureau requires the company to fulfill its information disclosure obligations in a timely and accurate manner, and effectively improve the quality of information disclosure; strengthen the study of the "Accounting Standards for Business Enterprises" and other regulations, strengthen financial management, standardize accounting, and ensure that financial reports are true. Accurate and complete.

Xiamen Xinda said that the company will propose practical rectification and standardization measures for the above-mentioned problems within 30 days from the date of receipt of the decision letter, and submit a rectification report to the Xiamen Securities Regulatory Bureau.

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