Former president of Lionhead Technology Development, Zhu Jimin, planned to increase his shareholding by no less than 200,000 yuan, but ultimately completed only more than 50,000 yuan. Recently, the company and responsible persons, including the then chairman, received a warning letter from the Shanxi Securities Regulatory Bureau due to multiple violations of the information disclosure rules.
When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.
According to Caixin's report on August 8th, Lionhead Technology Development (600539.SH) recently received a decision to impose administrative supervision measures by the Shanxi Securities Regulatory Bureau; the former president's plan to increase his shareholding was ultimately only completed by more than 50,000 yuan due to personal fund reasons, according to an announcement made tonight.
Lionhead Technology Development announced tonight that Zhu Jimin has accumulated 15,000 shares of the company through the exchange trading system in a centralized bidding transaction method, accounting for 0.0065% of the company's total equity. Due to limited personal funds, the amount of shareholding was RMB 55,660, failed to reach the minimum amount of the original plan, and the shareholding plan expired without being completed.
In fact, as early as February 8th this year, Lionhead Technology Development disclosed the shareholding plan: based on confidence in the company's future stable development and long-term investment value, the director and president of the company, Zhu Jimin, planned to increase his shareholding in the company through the exchange system of the Shanghai Stock Exchange in a centralized competitive bidding transaction method within six months from the date of this announcement. The planned cumulative shareholding amount was not less than RMB 200,000 (inclusive) and not more than RMB 400,000 (inclusive).
With only a shareholding increase of 200,000 yuan, the actual completion of just more than 50,000 yuan, is it due to a lack of money or lack of confidence?
On May 29th this year, Lionhead Technology Development announced that it had received the regulatory letter for annual report from the Shanghai Stock Exchange. The exchange raised several questions regarding the company's financial report for 2023 requiring the company to respond in detail. The main questions included the capital occupation of the company's vice-president, Fang Hebing, and requested the company to supplement the amount of principal and interest owed by Fang Hebing and other buyback obligations and explain the repayment plan and recovery measures.
Just half a month after receiving the regulatory letter, the then president of the company, Zhu Jimin, resigned, still during the shareholding plan period.
Just recently, Lionhead Technology Development received the decision letter regarding the administrative supervision measures from the Shanxi Securities Regulatory Bureau. Due to inaccurate financial data and information disclosure violations of Fang Hebing's fund occupation in the annual report, the Shanxi Securities Regulatory Bureau decided to implement regulatory supervision measures, issued the warning letter, and recorded it in the integrity file of the securities and futures market. The bureau also imposed regulatory supervision measures on responsible persons including Chairman Wu Jiahui, then president Xu Zhihua, Fang Hebing, Zhao Dongmei (then chairman), and Zhou Chihao (then chief financial officer), and recorded their names in the integrity file of the securities and futures market.
In the secondary market, Lionhead Technology Development stock price has fallen by 13.48% since June 1st. According to public data, Lionhead Technology Development primarily provides one-stop full-channel distribution business and operation services for brand owners through its subsidiaries, making it an e-commerce service provider. The current president of the company, Wu Jingyi, is only 24 years old, making her the second youngest president in A-share history. The chairman of the company is her elder brother, Wu Jiahui.