The China Securities Regulatory Commission intends to impose administrative penalties on Beijing culture and related responsible personnel in accordance with the law and adopt market prohibition measures

　　Xinhua News Agency, Beijing, August 27 (Reporter Liu Hui) The official website of the China Securities Regulatory Commission announced on the 27th that it intends to impose administrative penalties on Beijing culture and related responsible personnel and take market bans.

　　According to information from the China Securities Regulatory Commission, in December 2020, the China Securities Regulatory Commission filed an investigation into Beijing Jingxi Culture Tourism Co., Ltd. (referred to as Beijing Culture) for alleged violations of information disclosure in accordance with the law.

According to investigations, Beijing Cultural Subsidiary Beijing Century Partner Culture Media Co., Ltd. falsely transferred the project investment share income rights of the two TV series "A Chinese Ghost Story" and "The Great Song Palace Ci" in 2018, resulting in an inflated revenue of 460 million yuan and an inflated net increase. The profit was 191 million yuan, and there were false records in the 2018 annual report.

Recently, the China Securities Regulatory Commission issued an administrative penalty and a prior notice of market ban on Beijing Culture, intending to impose administrative penalties on 17 parties including the company and its chairman Song Ge and director Zhang Yunlong in accordance with the law. Prohibition measures.

　　The China Securities Regulatory Commission stated that financial fraud and false information disclosure have severely eroded the foundation of market integrity and seriously damaged the legitimate rights and interests of investors. These have always been the focus of the CSRC's supervision and enforcement.

In the next step, the China Securities Regulatory Commission will thoroughly implement the "Opinions on Strictly Cracking Down on Illegal Securities Activities According to Law" jointly issued by the Central Committee and the State Council, implement the "zero tolerance" work policy, adhere to classified supervision and precise strikes, and be strict in accordance with the law. Investigate and punish various violations of information disclosure, continuously promote the improvement of the quality of listed companies, better serve the high-quality development of the real economy, and provide a more solid legal guarantee for the construction of a standardized, transparent, open, dynamic, and resilient capital market.