*The chairman of ST Oceanwide’s delisted company was fined more than 20 million yuan

*The chairman of ST Oceanwide’s delisted company was fined more than 20 million yuan


On February 7, *ST Oceanwide was delisted and officially bid farewell to the A-share market.

On February 6, *ST Oceanwide announced that the company’s shares had been decided to terminate listing by the Shenzhen Stock Exchange and would be delisted on February 7, 2024. On January 26, the company received the Shenzhen Stock Exchange’s “Decision on Terminating the Listing of Oceanwide Holdings Co., Ltd.’s Shares.” From November 30, 2023 to December 27, 2023, *ST Oceanwide’s daily closing price for twenty consecutive trading days was less than 1 yuan, triggering the Shenzhen Stock Exchange’s Stock Listing Rules (Revised in August 2023 )” provides for the termination of listing of stocks. According to the regulations of the Shenzhen Stock Exchange and the deliberation opinions of the Listing Review Committee of the Shenzhen Stock Exchange, the Shenzhen Stock Exchange decided to terminate the listing of *ST Oceanwide shares and not enter the delisting consolidation period.

It is worth noting that although the company has been delisted, regulatory accountability for the illegal acts of *ST Oceanwide and relevant responsible persons has not ended.

On the evening of February 6, *ST Oceanwide disclosed that the company’s chairman Luan Xianzhou received an “Administrative Penalty Decision” issued by the Beijing Bureau of China Securities Regulatory Commission (referred to as “Beijing Securities Regulatory Bureau”).

The Beijing Securities Regulatory Bureau determined that Luan Xianzhou had committed insider trading in the shares of Minsheng Holdings Co., Ltd. and leaked insider information of Minsheng Holdings Co., Ltd. in 2016. Luan Xianzhou applied for a hearing and submitted a defense opinion accordingly. The Beijing Securities Regulatory Bureau’s defense against Luan Xianzhou and his agent The opinion will not be adopted. The Beijing Securities Regulatory Bureau decided to impose administrative penalties on Luan Xianzhou. Regarding insider trading, Luan Xianzhou was ordered to deal with illegally held securities in accordance with the law, confiscated illegal gains of 5.6377 million yuan, and imposed a fine of 16.9131 million yuan; regarding insider information leakage, Luan Xianzhou was fined 4 A fine of 10,000 yuan.

On February 5, *ST Oceanwide announced that the company had received a “Notification of Case Filing” issued by the China Securities Regulatory Commission. Because the company was suspected of violating laws and regulations in information disclosure, according to the “Securities Law of the People’s Republic of China”, the “Administrative Punishment Law of the People’s Republic of China”, etc. Laws and regulations, on January 26, 2024, the China Securities Regulatory Commission decided to file a case against the company.

In addition, on the evening of February 1, *ST Oceanwide announced that the company received the “Decision on Administrative Supervision Measures to Issue Warning Letters against Oceanwide Holdings Co., Ltd.” (referred to as “Decision”). After investigation, the company had irregularities in failing to promptly disclose the overdue status of relevant debts, involving a total principal amount of more than 5.5 billion yuan, including Everbright Xinglong loans (involving a principal amount of 1.55 billion yuan) and Shandong Expressway loans (involving a principal amount of 1.55 billion yuan). 1.745 billion yuan), Yingda Trust loans (involving a principal amount of 889 million yuan), CITIC Trust loans (involving a principal amount of 152 million yuan) and Agricultural Development Bank of China loans (involving a principal amount of at least 1.193 billion yuan). In addition, the company has not disclosed the default status of bonds such as “18 Ocean Control 01”, “19 Ocean Control 01”, “19 Ocean Control 02”, “20 Oceanwide 01”, “20 Oceanwide 01” and “20 Oceanwide 02” as required. The Beijing Securities Regulatory Bureau pointed out that the above-mentioned behavior of *ST Oceanwide violated the relevant provisions of the “Measures for the Administration of Information Disclosure of Listed Companies” and took administrative supervision measures by issuing a warning letter to the company and recorded relevant violations in the integrity file.



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