China Securities News (Reporter Zhan Xiuli) Recently, there were media reports that Legend Holdings Co., Ltd. submitted a rectification report on the administrative supervision measures issued by the Beijing Securities Regulatory Bureau.
The Beijing Securities Regulatory Bureau stated on the evening of May 10 that it has received the rectification report submitted by Legend Holdings and is verifying the relevant rectification.
According to the Beijing Securities Regulatory Bureau, according to the division of responsibilities, the bureau is responsible for the daily supervision of corporate bond issuers in accordance with the law.
At the beginning of 2021, Legend Holdings was selected as the object of on-site inspection in accordance with the principle of random selection. According to the inspection results, in accordance with the "Administrative Measures for the Issuance and Trading of Corporate Bonds" and other laws and regulations, Legend Holdings was ordered to correct administrative supervision measures.
The Beijing Securities Regulatory Bureau disclosed on April 14 that the bureau conducted an on-site inspection of Legend Holdings from September 8 to September 18, 2021, and found that Legend Holdings had the following problems: the periodic report was not disclosed in a timely manner, and the company’s 2020 annual The disclosure of the report on the Hong Kong Stock Exchange was earlier than the release of the annual report on corporate bonds on the domestic stock exchange; the disclosure of the interim report was not timely, and the company's proposed acquisition of Luxembourg International Bank was disclosed on the Shanghai Stock Exchange later than that of the Hong Kong Stock Exchange; The equity pledge of individual subsidiaries is not disclosed in the relevant prospectus and periodic reports; the company's operating and non-operating transactions are not clearly defined, and the disclosure of non-operating transactions or funds borrowing is inaccurate.
At the same time, the Beijing Securities Regulatory Bureau found in its daily supervision that on March 31, 2022, Legend Holdings released the "Announcement of Annual Results for the Year Ending December 31, 2021" on the Hong Kong Stock Exchange, but the information was not published in Shanghai Securities. The exchange bond market is disclosed simultaneously.
The above behavior violated Article 4 of the Administrative Measures for the Issuance and Trading of Corporate Bonds (2021), Article 4 of the Administrative Measures for the Issuance and Trading of Corporate Bonds (2015), and Article 10 of the Administrative Measures for the Information Disclosure of Corporate Credit Bonds Article 5 and Article 8 of the Guidelines for the Contents and Formats of Information Disclosure by Companies Offering Securities to the Public No. 38 - Contents and Formats of Annual Reports of Corporate Bonds.
The Beijing Securities Regulatory Bureau decided to take administrative supervision measures against the company by ordering it to make corrections.Keywords: