Gome Communications received advance notice of penalty from the China Securities Regulatory Commission, and investors can now claim compensation

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Injured shareholders can register for the company\’s rights protection on the Sina Shareholder Rights Protection Platform: http://wq.finance.sina.com.cn/ Follow @Sina Securities, follow Sina Brokerage Funds on WeChat, search Sina Shareholder Rights Protection on Baidu, and visit Sina Finance Client You can find us on the homepage of Sina Finance! On the evening of April 15, 2024, Gome Communications (600898) announced that it had received the \”Administrative Penalty and Market Ban Prior Notification\” issued by the China Securities Regulatory Commission. Lawyer Xu Feng from Shanghai Jiucheng Law Firm believed that Gome Communications\’ alleged false statements The illegal facts have been basically clear, and qualified injured investors can initiate claims in accordance with the law.

(Column of Lawyer Xu Feng) The above-mentioned announcement information shows that after investigation, the facts that Gome Communications is suspected of violating the law are as follows: 1. Gome Communications’ 2020 annual report contains false records that Gome Communications participated in the Apple scandal carried out by related parties under the control of the same actual controller in 2020 The trading business of mobile phones, Konka color TVs, and Huawei mobile phones has a closed loop of contracts and closed loops of funds, and it is a false purchase and sale business.

Gome Communications inflated its 2020 operating income by 578.2356 million yuan and operating costs by 574.5925 million yuan through false trade business, accounting for 61.53% of the year\’s operating income and 62.18% of the operating costs respectively. Gome Communications\’ 2020 annual report contains false records.

2. Gome Communications’ 2020 non-public issuance of stocks constitutes a fraudulent issuance. The relevant documents of Gome Communications’ 2020 non-public issuance quoted the above-mentioned false trade business income data. The company’s false trade business income confirmed from January to September 2020 was 578.2356 million yuan. , accounting for 86.21% of the current operating income.

In March 2021, the China Securities Regulatory Commission approved the non-public issuance application of Gome Communications, that is, the targeted issuance of shares to the controlling shareholder Shandong Longji Island Construction Co., Ltd., with a total amount of funds raised of 165.6001 million yuan. The funds raised were mainly used for the Jingmei Electronics intelligent terminal production line Reconstruction project.

Documents related to the non-public issuance of shares by Gome Communications contain false records, constituting a fraudulent issuance.

3. There are false records in Gome Communications’ 2021 annual report. Gome Communications’ 2021 deferred income tax asset recognition, right-of-use assets and lease liabilities were improperly accounted for.

On April 29, 2023, Gome Communications issued the \”Informative Announcement on Corrections and Retrospective Adjustments to Previous Accounting Errors\” to correct accounting errors and make retrospective adjustments to the 2021 financial statements.

The misstated amount of Gome Communications\’ net profit in 2021 is 19.6298 million yuan, accounting for 38.35% of the net profit recorded in the current report. Gome Communications\’ 2021 annual report contains false records.

Lawyer Xu Feng, director of Shanghai Jiucheng Law Firm, believes that based on the above illegal facts, Gome Communications stocks were bought between April 29, 2021 and April 29, 2023, and sold or sold after April 29, 2023. Investors who continue to hold shares can now initiate claims.

(ST Meixun Rights Protection Portal) (This article was contributed by lawyer Xu Feng, director of Shanghai Jiucheng Law Firm, and does not represent the position of Sina Finance.

Lawyer Xu Feng has been practicing law since 2008. His practice scope covers claims representation in the fields of securities fraud such as false statements, insider trading, and market manipulation.

Over the past decade or so, we have represented investors in nearly 200 stocks and have won lawsuits or obtained compensation through mediation. During the same period, we have also represented nearly 300 stock claims cases within the statute of limitations. Some of them have also had precedents of winning lawsuits and obtaining compensation through mediation.

Practice certificate number: 13101200810965495)

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