Shengli Precision: false records in the historical annual report have not received the final administrative punishment


On February 8, Shengli Precision, which has been under investigation by the China Securities Regulatory Commission (CSRC) for one and a half years, issued a notice on the progress of the investigation and risk hints, saying that the company has not received the “Administrative penalty decision” issued by the CSRC.At present, the company’s production and operation are all normal.According to the announcement, Shengli Precision received the Notice of investigation from China Securities Regulatory Commission on August 7, 2020. Although the company has not yet received the final decision, the China Securities Regulatory Commission has issued the Notice of Administrative Punishment and Market prohibition to Shengli Precision and relevant parties on May 18, 2021.According to reporter understanding, if the CSRC eventually implement administrative punishments for victory precision, according to the relevant judicial interpretations, on April 20, 2017 to the end of April 28, 2020, and in 2020 on April 29 to sell in the future, or still hold and produce certain negative (regardless of whether the solution sets) of investors, but the rights through legal channels.Investors who meet the above conditions can also send their names, contact numbers and transaction records (Excel files are suggested) to weiquan@hongzhoukan.com to participate in the pre-solicitation of claims organized by the “Civil Rights Protection” column group of Securities Market Red Weekly.The scope of this pre-collection of claims can include investment difference, commission, loss of stamp duty, etc. The final conditions and amount of compensation will be subject to the determination of the court.Investors do not have to pay any legal fees until they are compensated.Regarding the suspected illegal behavior of Shengli Precision, the company has previously received the Notice of Administrative Punishment and Market prohibition in advance, which has been disclosed.On September 9, 2015, Shengli Precision disclosed the Report on the Non-public Offering of Shares, Payment of cash to Purchase Assets and Raising Supporting Funds and the Report on the Listing of newly added shares.It intends to purchase 73.31% equity of Suzhou Zhicheng Optical Technology Co., LTD. (hereinafter referred to as Zhicheng Optics), 100% equity of Suzhou Fuqiang Technology Co., LTD., and 100% equity of Nanjing Dele Technology Co., LTD., by issuing shares and paying cash.After the change, Shengli precision holds 100% equity of Zhicheng Optics.The material assets reorganization was approved by China Securities Regulatory Commission (CSRC) on July 30, 2015, and completed the registration of industrial and commercial change of shares on August 7, and the share registration of the newly added shares on September 1.At this point, Victory precision will be incorporated into the 2015 consolidated accounting statements.From 2016 to 2018, Zhicheng Optics inflated its operating revenue, reduced operating costs and increased total profits by falsely issuing sales invoices for main products, falsely selling raw materials, and not timely recording raw materials.As a result, the 2016 annual report, 2017 annual report and 2018 annual report of Shengli Precision falsely increased its operating revenue by RMB 436,948,800 yuan, falsely decreased its operating cost by RMB 223,478,300 yuan, and falsely increased its total profit by RMB 654,084,400 yuan, resulting in false records.On April 29, 2020, Shengli Precision disclosed the Notice on the Correction and Retroactive Adjustment of Early Accounting Errors, corrected early accounting errors and retroactive adjustment of relevant financial data, and revised the relevant content of the annual report from 2016 to 2018.Public information shows that Shengli precision is a precision mold and parts manufacturer, the main products are magnesium aluminum alloy case, nano transfer notes case, in-mold injection aluminum back shell, TV glass back, electroplated bipedal base, zinc alloy plating base, mainly used in TV, notebook computers, mobile communications and other fields.This column will continue to pay attention to the follow-up progress of shengli Precision’s suspected shinpi violation case.

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