US Jim (002621.SZ) received a decision from the Dalian Regulatory Authority ordering the company to take corrective measures

Zhitong Finance ·  07/14 16:22

According to the Zhitong Finance App, Meijim (002621.SZ) issued an announcement. The company received the “Decision on Imposing Corrective Measures against Dalian Meijim Education Technology Co., Ltd.” issued by the Dalian Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as the “Dalian Regulatory Authority”) on July 14, 2023. The relevant information was announced as follows:

“Dalian Megim Education Technology Co., Ltd.: According to the “Securities Law”, “Field Inspection Rules for Listed Companies” (Securities Regulatory Commission Notice (2022) No. 21), etc., our bureau conducted an on-site inspection of your company and found that your company had the following irregularities:

1. Information disclosure. Your company has failed to comply with the review procedures of the board of directors and shareholders' meetings, and has not fulfilled the relevant information disclosure obligations in some of the transactions related to the purchase of goods. The details are as follows: your subsidiary, Meizhi Meiyuan (Tianjin) Trading Co., Ltd. (hereinafter referred to as Tianjin Meizhi Meiyuan), imports from GymConsulting, LLC through the agency of Hesinda International Trading (Dalian) Co., Ltd. and imports teaching aids such as three-dimensional crawling houses, children's toy cars, etc. from GymConsulting, LLC; your subsidiary Tianjin Meizhi Meiyuan signed an agency import agreement with Meiblance (Beijing) Trading Co., Ltd. to purchase stretch monkey products from GymConsulting, LLC. GymConsulting, LLC has a relationship with your company. The total purchase amounts for 2019 and 2020 (excluding tax) mentioned above were 5.0973 million yuan and 3.7726 million yuan, respectively. The purchase amounts for the transactions relating to the purchase of goods mentioned above all meet the standards that must comply with the review procedures of the board of directors and shareholders' meetings, and all must fulfill relevant information disclosure obligations. But none of your companies have implemented it. The above facts violate the relevant provisions of Article 2 (1) and Article 48 of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 40).

II. Internal control aspects. 1. The information in the registration book for the 2021 Annual General Meeting of Shareholders prepared by your company was incomplete, did not specify the ID number and address of the participants in the meeting in accordance with the company's articles of association, and did not record the deliberations and speech points of each proposal in the minutes of the meeting. 2. In the content of the resolution and draft of the third meeting of the sixth board of directors of your company, Liu Junjun, the then chairman of your company, avoided voting on bill 2 and bill 3, but the voting situation was inconsistent with the content of the resolution. The fact in item 1 above violates the relevant provisions of Articles 65, 73, and 74 of the “Guidelines on the Articles of Association of Listed Companies (Revision 2022)”. The second fact mentioned above violates the relevant provisions of section 32 of the “Governance Guidelines for Listed Companies (2018 Revision)”.

According to Article 59 of the “Administrative Measures on Information Disclosure of Listed Companies” (Order No. 40 of the Securities Regulatory Commission) and Article 21 of the “Rules for Field Inspection of Listed Companies”, our bureau has decided to take administrative supervision measures to order corrections against your company and record them in the integrity file of the securities and futures market.”

The announcement stated that after receiving the “Decision”, the company attached great importance to the issues indicated in the “Decision” and would strictly follow the requirements of the Dalian Supervisory Authority, thoroughly sort out the relevant issues, formulate a rectification plan, submit a written rectification report within the specified time, and promptly fulfill its obligation to disclose information.

The translation is provided by third-party software.

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