On Saturday, The Warning Letter Was Alleged That The 750 Million Yuan Related Transaction Was Not Timely Approved And Disclosed.
On Saturday, July 2nd (002291, SZ) announced that the company received the decision of the Guangdong Securities Regulatory Commission of the China Securities Regulatory Commission (hereinafter referred to as the Guangdong Securities Regulatory Commission) to issue a warning letter to Limited by Share Ltd, Yu Hongtao and He Jianfeng on Saturday. Guangdong securities regulatory bureau pointed out that from July 2019 to September, it was jointly established with Foshan Nanhai yuan Qi Investment Limited company on Saturday with Hongzhen Commercial Co., Ltd., Hangzhou Honghua Commercial Co., Ltd. and Hangzhou Xinyi Commercial Co., Ltd. (hereinafter referred to as three Brand Company), and the company holds three stake in Brand Company 45% respectively. The three Brand Company mainly carry out the marketing business of authorized products of the company. The company has an important influence on its day-to-day business activities through the examination of three Brand Company business indicators and business activities, and the company's chairman and general manager is Hong Tao in Hangzhou. According to the relevant regulations, three Brand Company are affiliated parties.
From July 2019 to March 2020, the related transactions between the subsidiaries and three Brand Company on Saturday were about 750 million yuan. For the above connected transactions, the company failed to fulfill the related transaction approval procedures and disclosure obligations in accordance with the regulations. It did not convene the board meetings and shareholders' meetings until April 21, 2020 and May 13th to make supplementary confirmation and disclosure. The company's related behavior violates the relevant provisions of the administrative measures for information disclosure of listed companies.
In this regard, Guangdong securities regulatory bureau decided to take the administrative supervision measures on Saturday, the company's chairman and general manager Yu Hongtao and He Jianfeng.
The reporter noted that after the board meeting was held in April 21st to confirm the related transactions, the details of the related transactions were detailed in the 2019 annual report released on April 23rd, which is the retail business of the footwear brands "ST&SAT" (Saturday), "D:FUSE" (Diffs) and "SAFIYA" (Sophia) of the three Brand Company operating companies, and the company passed the company's approval. A wholly owned subsidiary, Hangzhou Jia Yi commerce Co., Ltd. sells products to Brand Company and charges royalties to Brand Company.
On Saturday, it has been stated that through the changes in the way of operation of the above retail business, we can gradually reduce the proportion of offline stores in the company on the basis of ensuring the stability of the company's business, and gradually transform the original department stores into the franchise stores. This will help the company to gradually reduce the storage level, optimize the asset structure and improve the efficiency of asset operation, and on the other hand, it will be advantageous. To improve operating cash flow, speed up capital turnover, reduce business pressure, and further enhance profitability, so that the company can focus on brand management, supply chain service light assets operation mode transformation.
As of July 2nd closing, Saturday reported 22.98 yuan / share, a slight drop of 0.65%.
- Related reading
Another Fashion Brand Is Withering, And Superdry Is About To Withdraw From The Mainland Market.
|
How Did The Famous Brand Giordano, Baleno And JEANSWEST Enter The "Miserable" Mode?
|
Chanel Beauty Line Sales Surged 100% In May, A Cumulative Increase Of 60% This Year.
|
- Fabric accessories | Nantong: Across The Century, "Textile Town" Weaving New Industries And New Dreams
- Fabric accessories | Textile And Garment Industry Suffers From Pain? Look At The "Green Enterprise Therapy" Under The Industrial Internet.
- Fabric accessories | Nantong Organized Round Table Seminar To Focus On Cotton Textile Enterprises Development In Post Epidemic Era
- Fashion shoes | The Classic Black-And-White Reebok Kamikaze 2 Came Back Again, And The Texture Remained Unchanged.
- Daily headlines | A Hot Review Of The Week: A Quick Look At The News Events In Textile And Garment Industry At Home And Abroad (6.29.-7.3.)
- Daily headlines | Revitalize The New Industrial Structure And Promote A Strong Recovery In Commerce -- The 2020 Fashion Shenzhen Exhibition And The Modern Shenzhen International Fashion Festival
- Daily headlines | At The End Of June, The Domestic Trade Of Big Wool Weaving Was Soft And Downward, And The Export Market Showed A Downward Trend.
- policies and regulations | Support For Shengze To Build A World-Class High-End Textile Industrial Cluster, Wujiang Issued Opinions On Implementation
- Expert commentary | China Textile City: Innovative Elastic Fabric Summer And Autumn Orders To Send Local Small Increase
- Pregnant baby | Jingdong Express Will Provide Emergency Pick Up Service For Guangzhou College Entrance Examination Students.
- Two Rounds Of "Enterprise Code" To Promote More Than 8000 Households Market Operators Receive Precise Service.
- In June, China'S Manufacturing PMI50.9% Rose.
- Adidas'S New "Superstar" Fake Print Slippers Are On Sale.
- 2020 Nantong Textile Expo "Cloud Exhibition" On-Line More Than 400 Spinning Enterprises Gathered
- 5 Enterprises Choose New Technology List Of Provincial Textile And Garment Industry
- 2021 Spring And Summer Trend Prediction: Abstract Wave Point Abstract Spot
- Zhejiang Resources (600070): Annual Report Pushed 10 To Send 0.8 Yuan
- All The Transactions Have Been Completed Continuously. The Cotton Price Has Gone Up But The Turnover Has Weakened. Stick Short And Resist.
- The Market Is Hard To Recover Before The End Of The Year, But The Stock Has Not Been Stacked Up. This Year, The Textile Booth Is Happening.
- 700 Million Related Party Transactions Were Not Disclosed In Time, And The Brand Name "Eat" Warning Letter Of Market Value Of 17 Billion.