Zhengwei New Material was investigated and received the warning letter. The largest shareholder may also change

Zhengwei New Material was investigated and received the warning letter. The largest shareholder may also change
11:25, May 25, 2024 Daily Economic News

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On May 24, Zhengwei New Material (SZ002201, with a share price of 6.42 yuan and a market value of 4.184 billion yuan) rose by 9.93% to close at 6.42 yuan per share, up by the intraday limit, but more attention was paid to the three announcements disclosed by the company in succession after the hour.

On the evening of the 24th, Zhengwei Xincai disclosed that it had received the notification of filing and the decision on administrative supervision measures issued by the CSRC, and also disclosed the progress of the judicial auction of 25210100 shares (3.87% of the total capital stock of the company) of Zhengwei Xincai held by the company's controlling shareholders.

Suspected of violating laws and regulations of the letter and being investigated

According to the announcement, on May 24, Zhengwei Xincai received the Notification of Filing issued by the China Securities Regulatory Commission. As the company was suspected of illegal information disclosure, the China Securities Regulatory Commission decided to file a case against the company in accordance with relevant laws and regulations.

Zhengwei Xincai said that during the investigation, the company will actively cooperate with the work of the CSRC and perform the obligation of information disclosure in strict accordance with the regulations.

At the same time, Zhengwei New Material also disclosed that it has received the Decision of Jiangsu Securities Regulatory Bureau on Issuing Warning Letter to Jiangsu Zhengwei New Material Co., Ltd. and Wang Wenyin issued by Jiangsu Regulatory Bureau of China Securities Regulatory Commission.

Upon investigation, Shenzhen Yiwei New Material Co., Ltd. (hereinafter referred to as "Shenzhen Yiwei") is the controlling shareholder of Zhengwei New Material. As of March 25, 2024, it holds 127 million shares of the listed company, accounting for 19.55% of the total share capital of the listed company. Xi'an Zhengwei New Materials Co., Ltd. (hereinafter referred to as "Xi'an Zhengwei") is a concerted person of Shenzhen Yiwei, holding 41.32 million shares of the listed company, accounting for 6.34% of the total share capital of the listed company.

On November 24, 2023, the Fuzhou Intermediate People's Court executed judicial refreezing (pledge to freeze) on the 34396100 shares (5.28% of the total share capital) held by Shenzhen Yiwei.

On November 27, 2023, the Chengdu Intermediate People's Court will implement a waiting freeze on all 127 million shares (19.55% of the total share capital) of Zhengwei New Material held by Shenzhen Yiwei. On the same day, the Chengdu Intermediate People's Court refrozen all the 41.32 million shares (6.34% of the total share capital) of Xi'an Zhengwei New Material.

The above matters are major events that should be disclosed in time. Wang Wenyin, Chairman and Secretary of the Board of Directors of the Company, learned about the matter on December 19, 2023, but the Company did not disclose it until January 12, 2024.

After the major event that 5.28% of the shares held by Shenzhen Yiwei were re frozen by the judiciary and 19.55% of the shares were waiting to be frozen, on December 28, 2023, the Fuzhou Intermediate People's Court issued the Notice of Online Auction, proposing to conduct a public auction of 20.9961 million shares of Zhengwei New Material held by Shenzhen Yiwei (accounting for 3.22% of the company's total capital stock).

This event belongs to the progress that may have a greater impact on the share price of the listed company after the equity was frozen in the early stage, and the company should disclose this progress in a timely manner. Wang Wenyin, Chairman and Secretary of the Board of Directors of the Company, learned about the proposed auction of shares on January 4, but did not disclose it until January 12.

Therefore, Jiangsu Securities Regulatory Bureau decided to take regulatory measures to issue warning letters to Zhengwei Xincai and Wang Wenyin, and record them in the integrity file of the securities and futures market.

The largest shareholder may change

As stated in the decision on administrative supervision measures, the controlling shareholders of Zhengwei New Material are now in trouble and have been subject to constant litigation.

On May 24, Zhengwei Xincai also disclosed that the Fuzhou Intermediate People's Court of Fujian Province auctioned 25210100 shares (3.87% of the total share capital of the company) held by Shenzhen Yiwei in the listed company from 10 a.m. on May 23 to 10 a.m. on May 24 (except for the delayed shares) through the Taobao judicial auction network platform.

The above shares were acquired by Shenzhen Yinque New Materials Co., Ltd. (hereinafter referred to as "Yinque New Materials") at a price of 261 million yuan through bidding No. M6351. Users who successfully bid in the online auction must, according to the relevant requirements, pay the balance of the online auction of the subject matter on time and go through the relevant procedures. The final transaction is subject to the auction transaction ruling issued by Fuzhou Intermediate People's Court.

To sort out the previous judicial auction of shares held by Shenzhen Yiwei, Fuzhou Intermediate People's Court conducted a public auction of 20.9961 million shares of listed companies held by Shenzhen Yiwei on the Taobao judicial auction network platform from March 26 to March 27. Jiangsu Jiuding Group Co., Ltd. (hereinafter referred to as "Jiuding Group") successfully auctioned and completed the transfer registration procedures.

Up to now, the accumulated auction shares held by Shenzhen Yiwei and its persons acting in concert are 46062200 shares, accounting for 7.09% of the company's total share capital.

Zhengwei Xincai said that the auction involved the payment of the auction balance, the court's ruling of legal procedures, equity change and transfer, and the final auction result was uncertain.

If the judicial auction is finally concluded and transferred, and Yinque New Materials is not associated with more than 5% of the shareholders of the listed company, the total shares of the listed company held by Shenzhen Yiwei and its persons acting in concert will be reduced to 123 million shares, accounting for 18.80% of the total share capital of the company; Jiuding Group and its persons acting in concert hold 133 million shares of listed companies in total, accounting for 20.35% of the total share capital of the company; Jiuding Group will passively become the largest shareholder of the company.

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