Sina Financial News on the evening of March 30, the announcement of the resignation of the director and financial director of Jinya Science and Technology Company said that the board of directors recently received a written resignation report submitted by Yuan Chunfeng, who was unable to perform the existing position because of his limited working ability. He asked to resign as the company's financial director and director.

According to the Company Law, the guidelines on the standardized Operation of companies listed on the growth Enterprise Market of the Shenzhen Stock Exchange and the articles of Association of the Company, Yuan Chunfeng's resignation shall take effect from the time it is served on the board of directors of the company. As Yuan Chunfeng's resignation will cause the number of members of the board of directors of the company to fall below the legal minimum, in order to ensure the normal operation of the company and the board of directors, Yuan Chunfeng will continue to perform his duties as a director until the election of newly appointed directors is completed. No longer hold any other position in the company.

In fact, Jinya Technology has been suspended from listing for three consecutive years of negative net profit in May 2019, and KuaiBao continued to lose a lot of money in 2019 according to the results disclosed on February 28th.

In addition, because of the false increase in income of IPO declaration materials and the false increase of profits in the 2014 annual report, the company has received a total of 1284 civil judgments and the court ordered the company to compensate the plaintiff a total of 44.5077 million yuan for losses caused by false statements.

Jinya Technology Chief Financial Officer resigns the company has been suspended from listing.

Yuan Chunfeng was originally scheduled to serve from November 13, 2019 to November 13, 2022. According to public information, from September 2009 to September 2014, Yuan Chunfeng served as financial director and chief financial officer in real estate enterprises, medical industry, hotels and other fields, with rich practical operation and management experience. He once served as the project manager and deputy director of Hainan Strategy University and tax Agent firm. From October 2014 to March 2016, he served as the deputy director of Hainan Shifang tax Accountants Office, responsible for the business and chief auditor. He has been in charge of the company's finance since September 2016 and a director of the company since March 2018. The pre-tax salary received from the company in 2018 was 302500 yuan.

It is worth noting that Jinya Technology disclosed its performance on February 28th. KuaiBao, the company's operating income in 2019 was 3.2463 million yuan, down 75.33 percent from the same period last year; operating profit was-37.1345 million yuan, down 128.76 percent from the same period last year; the total profit was-37.0503 million yuan, down 155.33 percent from the same period last year; and net profit was-36.3545 million yuan, down 56.65 percent from the same period last year.

The main reason is that "due to the suspension of listing during the reporting period, the company's credit rating declined and its bidding qualifications were limited, resulting in a substantial decline in the company's operating income, which in turn led to a loss in performance this year."

In fact, the current Jinya technology is already in danger. Due to negative audited net profit for three consecutive fiscal years in 2016, 2017 and 2018, the listing of the company's shares has been suspended since May 13, 2019.

False increase in income of IPO declaration materials and false increase in profits in 2014

Now faces huge compensation.

Earlier, in November 2018, Jinya Science and Technology received a letter from the Shenzhen Stock Exchange informing Jinya Science and Technology Co., Ltd. that it had been transferred to the public security organ by the China Securities Regulatory Commission on suspicion of fraudulently issuing shares and other illegal acts. It was transferred to the public security organ by the China Securities Regulatory Commission.

As early as August 22, 2016, the CSRC launched a case investigation against Jinya Technology. It was later confirmed that Jinya Technology falsely increased its operating income from January to June 2008 and 2009 in IPO declaration materials, accounting for 47.49% and 68.97% of the publicly disclosed operating income in the current period, and the profits in 2008 and January to June 2009 accounted for 85.96% and 109.33% of the publicly disclosed profits in the current period, respectively.

At present, the case has not yet been adjudicated, and after the people's court makes the relevant judgment on the company and takes effect, the Shenzhen Stock Exchange will judge whether it constitutes a major illegal compulsory delisting according to the new rules.

At the same time, Jinya Technology also has the problem of false records in the 2014 annual report.

In order to reverse the company's losses in 2013, Zhou Xuhui, then chairman of Jinya Technology, set the company's profit target of about 30 million yuan in early 2014. At the end of each quarter, the then financial director of Jinya Technology (Zhang Fade before June 20, 2014, followed by Ding Yonghe) will report the real profit data and quarterly profit data broken down according to the annual profit target set at the beginning of the year to Zhou Xuhui. Zhou Xuhui finally determines the profit data disclosed to the public in the current quarter.

After Zhou Xuhui confirmed the quarterly profit data, Zhang Fade and Ding Yonghe told the staff of Jinya Science and Technology Finance Department the quarterly profit data at the end of each quarter, asking them to make accounts according to this data, falsely increasing income and costs, supporting false increases in inventory, current accounts, and bank deposits, and decomposing these data into monthly accounts accordingly. People involved in falsifying financial data include Zhou Xuhui, Zhang Fade, Ding Yonghe, Li Lu, Liu Hong, Zhang Xiaoqing, Shu Zhihan and Zeng Bing. Jinya Science and Technology has set up 006 and 003 sets of accounts. 003 account set accounting data are used for internal management and bookkeeping is based on the real business. The accounting data of 006 account set is used to expose to the public, and the forged financial data are recorded in 006 account set. On April 1, 2015, Jinya Technology disclosed the 2014 Annual report of Jinya Technology Co., Ltd. on the basis of 006 accounting data.

According to public information, Jinya Technology falsely increases profits by fabricating customers, forging contracts, forging bank documents, falsifying records of sending and receiving materials and products, and concealing expenses. The total profit in 2014 was 80.495 million yuan, the bank deposit was 218 million yuan, and the prepaid project payment was 310 million yuan.

In view of the above illegal acts, the CSRC took lifelong measures to ban Zhou Xuhui from entering the securities market, and banned Zhang Fade and Ding Yong from entering the securities market for 10 years respectively.

Due to repeated violations, the company has been receiving civil judgments since December 2017, demanding compensation for losses caused to plaintiffs due to false statements and inflated profits.

As of February 17, Jinya Science and Technology had received a total of 1284 "civil judgments" of the first instance, and the court ordered the company to compensate the plaintiff a total of 44.5077 million yuan for losses caused to the plaintiff due to false statements, and to pay a total of 4.4349 million yuan for accepting the case.