Zhongxin Jingwei, May 21 – Shenzhen Stock Exchange issued a supervision letter to Zeng Zhenghuan, the shareholder of Yuxin Shares, on May 21. Previously, the Guangdong Securities Regulatory Bureau had ordered Zeng Zhenghuan to correct.
Screenshot of supervision letter Shenzhen Stock Exchange pointed out that the Prompting Announcement on the Reduction of More than 5% Shareholders' Holdings to Less than 5% and Equity Change disclosed by Yuxin Shares on April 3, 2024 showed that Zeng Zhenghuan had accumulatively reduced his holdings of Yuxin Shares by 1.4821 million shares through centralized bidding transactions from March 28 to April 2, 2024, accounting for 0.39% of the company's total share capital. After the equity change, Zeng Zhenghuan's shares in the company decreased from 20042500 to 18560400 shares, and his shareholding ratio decreased from 5.22% to 4.83%. He is no longer a shareholder holding more than 5% of the company's shares.
Shenzhen Stock Exchange said that, Yuxin Shares sold the company's shares through centralized bidding transaction, and failed to stop selling and fulfill the disclosure obligation in a timely manner in accordance with Article 13 of the Administrative Measures for the Acquisition of Listed Companies (Revised in 2020) when the shareholding ratio dropped to 5% , in violation of Articles 1.4 and 3.4.1 of the Stock Listing Rules (revised in August 2023).
On the same day, due to the above violations, Guangdong Securities Regulatory Bureau issued the Decision [2024] No. 47 on Ordering Zeng Zhenghuan to Take Corrective Measures.
The Guangdong Securities Regulatory Bureau pointed out that Zeng Zhenghuan's above behavior violated the provisions of Paragraph 1 of Article 63 of the Securities Law and Paragraph 1 of Article 13 of the Administrative Measures for the Acquisition of Listed Companies. In accordance with Paragraph 2 of Article 170 of the Securities Law and Article 75 of the Measures for the Administration of Takeovers of Listed Companies, Decided to take administrative supervision measures to order Zeng Zhenghuan to make corrections.
According to the official website of Yuxin, the company was founded in October 2009, and has built several sets of LPG deep processing product production units, including methyl tert butyl ether, isooctane, maleic anhydride, sec butyl acetate, isopropanol, etc.
In terms of finance, in the first quarter of 2024, Yuxin Shares realized an operating income of 1.818 billion yuan, up 22.87% year on year; The net profit attributable to shareholders of the listed company was 73.0692 million yuan, down 31.78% year on year.
On May 21, Yuxin shares weakened in shock, closing down 2.87% at 14.53 yuan, with the latest market value of 5.6 billion yuan. (Zhongxin Jingwei APP)
