Hainan Coconut Island (600238.SH) announced that on June 14, 2024, the company received a decision on administrative supervision measures issued by the China Securities Regulatory Commission's Hainan Regulatory Bureau.
According to an announcement by Hainan Coconut Island on April 26, 2024, in October 2023, an employee of Hainan Coconut Island's subsidiary Hainan Coconut Island Liquor Industry Development Co., Ltd. illegally embezzled company funds. The company reported the case to the public security organ immediately. After investigating, the public security organ found that the employee embezzled RMB 19,861,100 (the final amount recognized by the judicial organ) of company funds. The company has recovered RMB 887,000 with the assistance of the public security organ, but has not yet recovered about RMB 18,974,100. In order to make up for the loss caused to the company and shareholders by this matter, the company's second largest shareholder, Quande Energy (Jiangsu) Co., Ltd., issued a debt notice waiver to the company, waiving the company's loan principal and interest of RMB 18,974,100 as of December 31, 2023, to fully make up for the financial loss caused to the company by this matter. The company will fully provision for the outstanding receivables as losses, reducing the company's total profit for the year 2023 by RMB 18,974,100 and including the shareholder debt waiver in the capital reserve of RMB 18,974,100.
The weather is good today The weather is good today.
According to reports, the matter of the Hainan Coconut Island staff's embezzlement of company funds has reached the standard of a major event, which should be disclosed in a timely manner by the company. However, the company did not release the announcement about the staff's suspected embezzlement of funds until April 26, 2024, which was not timely. The company's above behavior violates relevant regulations. Duan Shouqi, as the chairman of the company's board of directors, Ma He, as the general manager and acting CFO of the company, and Cai Zhuan, as the secretary to the board of directors, failed to fulfill their obligations diligently and responsibly according to regulations, and are mainly responsible for the above illegal conduct of the company. The Hainan Regulatory Bureau decided to take administrative supervision measures to issue a warning letter to Hainan Coconut Island and Duan Shouqi, Ma He, and Cai Zhuan.