Hainan Haiyao received advance notice of punishment from the China Securities Regulatory Commission, investor claims reminder

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 12, 2024, Hainan Haiyao (rights protection) (000566) announced that it had received the \”Administrative Penalty Prior Notice\” from the Hainan Supervision Bureau of the China Securities Regulatory Commission. Lawyer Xu Feng from Shanghai Jiucheng Law Firm reminded that so far, Hainan Haiyao The alleged violations have been basically clarified, and investors who have been harmed by their violations can initiate claims according to law.

(Column of Lawyer Xu Feng) The above-mentioned \”Advance Notification of Administrative Punishment\” announcement information shows that after investigation, the facts that Hainan Haiyao Co., Ltd. is suspected of violating the law are as follows: Hainan Haiyao did not disclose related transactions in its regular reports.

From December 2018 to January 2020, Hainan Haiyao and its subsidiaries engaged in non-operating fund occupation with Chongqing Saino and Chongqing Jinsai through direct and indirect transfers in the name of financial assistance, purchasing trust financing, etc. Related party transactions.

The amount of non-operating funds occupied from 2018 to 2020 was 480 million yuan, 220 million yuan, and 47.5 million yuan respectively.

According to the Securities Law revised in 2005 and revised in 2014, the above matters should be disclosed in relevant periodic reports.

Hainan Haiyao failed to disclose in the 2018 annual report, 2019 annual report, 2020 annual report, 2021 annual report, and 2022 annual report as required, which constituted a major omission.

Lawyer Xu Feng, director of Shanghai Jiucheng Law Firm, believes that based on the above circumstances, Hainan Haiyao stocks were bought between April 26, 2019 and September 29, 2023, and sold or sold after September 29, 2023. Investors who continue to hold shares can now initiate claims.

(Hainan Haiyao 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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