Kang De's new counterfeit case is about to fall.

  The top penalty, life-long ban, major illegal delisting risk, and criminal liability are investigated. *ST Kangde (002450.SZ) ushered in a second notice.

  Late in the evening on June 28, *ST Kangde announced that it received the "Prior Notice of Administrative Penalty and Market Ban of the China Securities Regulatory Commission" (hereinafter ""Notification""), which was close to the first notification. One year.

  During the year, Kangde's new side has requested four hearings, but it has not changed the SFC's determination of the main facts of financial fraud and the decision of the top penalty.

  According to the latest "Notice", *ST Kangde has the possibility to touch the "Compulsory Delisting Implementation Measures for Listed Companies on the Shenzhen Stock Exchange" and "Compulsory Delisting Rules" as stipulated in the "Stock Listing Rules". Illegal delisting.

  Zhong Yu, the actual controller of the company, was fined 900,000 yuan and is still in criminal procedure. According to the news on the evening of May 12, 2019, the official Weibo of the Zhangjiagang City Public Security Bureau, Zhong Yu has been taken criminally by the police for alleged crimes.

  As one of the "two health" cases, Kangdexin's financial fraud has reached its peak. After 2015 for four consecutive years, every year fictitious sales business, fictitious increase in revenue and profits, and the financial hole is getting bigger and bigger. The survey shows that from 2015 to 2018, Kangdexin's annual profits in the annual report totaled 2.243 billion, 2.943 billion, 3.908 billion, and 2.436 billion, of which the amount of fraud in 2018 was 7.11 times the amount disclosed in the annual report.

  In four years, Kant's new bank account was also false. From 2015 to 2018, the year-end bank balances disclosed in the annual report were 9.571 billion, 14.69 billion, 17.781 billion, and 14.468 billion. The "big bull stock" with billions of cash lying on the account every year, the actual survey found that the funds of 4 Beijing bank accounts of 3 subsidiaries within the scope of Kang Dexin and its consolidated financial statements were collected in real time and in full. To the account of Kangde Group, the actual balance of Kangdexin and its subsidiaries Beijing Bank account is 0 every year.

  It is not enough for the controlling shareholder Kangde Group to directly hollow out the listed company. In 2016 and 2017, the new subsidiary of Kangde was used to sign a "deposit pledge contract" with Xiamen International Bank and AVIC Trust to provide guarantee for Kangde Group. 2016 From the year to 2018, the principals of consecutive guaranteed debts were 1.383 billion, 1.463 billion, and 1.463 billion.

  According to the survey, another financial fraud of Kangdexin is to raise funds for projects that claim to invest in advanced polymer film materials projects and construction of naked-eye 3D module products, etc., with a purchase amount of 2.453 billion, and after multiple transfers The main funds flow back to Kangdexin, which is used to repay bank loans and cooperate with false profits.

  Zhong Yu, as the actual controller and chairman of Kangdexin, was the decision-maker and organizer of Kangdexin's profit increase. He was responsible for formulating false performance indicators and coordinating various departments, and was responsible for arranging suppliers and customers to cooperate with false business. And arrange the corresponding funds, occupying a core position in Kang Dexin's information disclosure violations, directly organizing, planning, leading and implementing the violations involved in the case. It is the main decision-maker. The SFC determined that its actions directly led to Kang Dexin's actions. The occurrence of illegal acts related to information disclosure is particularly serious.

  Based on this, the CSRC will take a lifelong ban on securities market access to Zhong Yu. Including, it is not allowed to continue to engage in securities business in the original institution or to serve as director, supervisor or senior manager of the original listed company or unlisted public company, nor to engage in securities business in any other institution or to serve as director of other listed company or unlisted public company. , Supervisors, senior management positions.

  The chairman of the China Securities Regulatory Commission, Yi Huiman, has recently stated that it has recently concentrated its efforts on investigating a number of major financial fraud cases that are highly concerned and adversely affected by the market, such as Kang Dexin and Kang Mei Pharmaceutical (600518.SH).

  In terms of strengthening the legalization of the fight against counterfeiting, the newly revised Securities Law was formally implemented on March 1, this year, which greatly increased the punishment for information disclosure violations. China's "Accounting Law" has made strict requirements for accounting and auditing business, and the "Criminal Law" under revision will also greatly increase the penalties for financial fraud.

  Yi Huiman said that financial fraud is a poisonous tumor in the capital market, and the China Securities Regulatory Commission has never condoned it and cracked down on it.

  Author: Du Grief