Is The "Fake King" Nanfang Share Delisting?

Here world clothing shoes The Xiaobian of the hat net will tell you whether the "fake king" Nanfang shares should be delisted.

Recently, Nanfang shares received a ticket from the SFC for fraud. According to the punishment decision issued by the SFC, Nanfang shares were fined 500 thousand yuan, and 13 people were appointed as chairman, current director, then independent director and deputy general manager, respectively, and were fined 300 thousand yuan to 30 thousand yuan respectively.

After the news came out, some investors thought that the punishment was too light. In response, Zang Xiaoli, a lawyer for securities rights protection and lawyer of Beijing Ying Ke law firm, said in an interview with our reporter: "it is beyond doubt that the punishment is in conformity with the relevant regulations."

However, she believes: "listed companies often appear fraudulent. In addition to administrative penalties, they also have matching criminal penalties and civil penalties. Otherwise, the cost of illegal activities is too low, which will make those poor listed companies follow suit, which is not conducive to the development of the domestic capital market, and is even more harmful to protect the interests of small shareholders."

It is noteworthy that after the deduction of imaginary profits, Nanfang textile company has lost its performance for five consecutive years. Whether such a listed company should be delisted has become the focus of the market.

Nanfang shares were claimed by investors

The increasing profit of Nanfang shares has attracted the attention of the market. According to relevant regulations, eligible investors can sue for compensation in court. According to Zang Xiaoli, the court has filed a case against the Nanfang stock fraud claim.

Zang Xiaoli said that investors expected to be compensated include buying shares of Nanfang stock between March 31, 2007 and March 26, 2012 and selling or continuing to hold the shares after March 27, 2012. At present, dozens of people are involved in the Nanfang share claim case. "At present, there are not many investors who claim compensation, but as the impact of this matter is increasing, more Nanfang share investors will join the rights protection claims team."

The total claims for Nanfang share will not be too high. The total number of shares of the company is 258 million shares, of which Nanjing trade and tourism development Refco Group Ltd holds 90 million 510 thousand shares, and its shareholding ratio is 34.99%. In addition, the second largest shareholder is the China Securities Investor Protection Fund Limited liability company, holding 18 million 600 thousand shares and holding a proportion of 7.19%. "The company's plate is not big enough, plus the investors who meet the requirements will not be too many." Some analysts said.

"Judging from the similar false claims filed at present, the claim amount of Nanfang shares is estimated to be at least ten million yuan." Zang Xiaoli said, "the limitation of action in this case is two years, and the total number and total amount of the final claim will only be announced after two years."

Investors say the cost of irregularities is too low.

stay SFC After the publication of the punishment, some investors believe that such a punishment is too light to punish the counterfeiters, nor is it enough to deter other listed companies.

According to the decision of the SFC's administrative penalty recently disclosed by Nanfang stock, Nanfang shares continuously increased substantially from 2006 to 2010. After deducting the inflated portion, the company continued to lose money in the past 5 years. In 2006, Nanfang Textile Co. made a profit of 31 million 91 thousand and 500 yuan. After deducting fictitious profits, the profit of Nanfang stock in that year was -668.65 million yuan. In 2007, Nanfang Textile Co. made a profit of 42 million 233 thousand and 300 yuan. After deducting fictitious profits, the profit of Nanfang stock in that year was -1430.59 million yuan. In 2008, Nanfang Textile Co. made a profit of 151 million 998 thousand and 300 yuan. After deducting fictitious profits, Nanfang shares made a profit of -13620.47 yuan. In 2009, Nanfang Textile Co. made a profit of 60 million 531 thousand and 800 yuan. After deducting fictitious profits, Nanfang shares made a profit of -4470.40 yuan. In 2010, Nanfang Textile Co. made a profit of 58 million 641 thousand and 200 yuan. After deducting fictitious profits, Nanfang shares made a profit of -5969.01 yuan. According to statistics, Nanfang shares accumulated 344 million yuan profit and was called "fake king".

Analysts believe that if the standard of delisting is adopted, the actual performance of Nanfang shares has already met the standards of delisting. But in fact, the two tier market, Nanfang shares are still trading.

In addition, investors believe that the SFC's punishment on Nanfang shares is too light, which makes the illegal cost of listed companies relatively low. It is understood that in addition to the fines, the SFC also punished the executives at that time: the former chairman of Nanfang Textile Co., Xiao Zhong was judged to be a lifelong prohibit in the securities market, and the other two former executives, Ding Jie and Liu Shengning, were also banned from entering the securities market. They could not engage in securities business for 10 years or serve as directors, supervisors and senior management personnel of listed companies.

Some analysts believe that Nanfang Textile Co., Ltd. The behavior of the entire capital market has a huge negative impact, good children will be broken, "this is bad money drives out good money".

For this argument, Zang Xiaoli believes that in addition to administrative penalties, we should also provide supplementary punishment plans for such cases, including criminal penalties and civil penalties.