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Wuliangye three tablets crime control what is wrong? - Wuliangye, liquor - food industry industry by srf asgas
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Wuliangye three tablets crime control what is wrong? - Wuliangye, liquor - food industry industry by SRF ASGAS
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| Article Posted: 12/14/2010 |
| Article Views: 58 |
| Articles Written: 515 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 724 |
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Wuliangye three tablets crime control what is wrong? - Wuliangye, liquor - food industry industry |
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Business,Business News,Business Opportunities
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Much market attention Wuliangye Stage results have been investigating the incident. China's Securities Regulatory Commission yesterday (23) informed the situation shows that there has been found Wuliangye company fails to disclose suspected of a major securities investment behavior and higher investment losses, did not truthfully disclose major securities investment losses, the disclosure of the existence of main business income data illegal acts of the three major mistakes (Sept. 24 Xinhua).
Preliminary investigation that the Commission's Wuliangye alleged "three sins", I slightly mixed feelings. This "three sins" of essentially the scope of information disclosure regulation, and information disclosure is a listing of the public should at least observe. "Securities Act" 63rd stipulates: "The issuer of listed companies to disclose information by law, must be true, accurate, complete, and no false record, misleading statement or significant omission." Reason requires listed companies to accurate, real, Full disclosure of information, primarily as a public company, investors are extremely important. Once the disclosure is not complete, true, accurate, and may mislead investors, investment decisions. Most listed companies to conceal information ultimately caused huge losses to investors. Why hide the information, in fact, to the interests of the company or individual management of the company the benefit of a bad act to deceive investors. In fact, this situation exists in listed companies is quite common. Wuliangye is found, its probably very innocent and inequality, perhaps they do not guilt, but was bad luck, nothing with it. I often think, why the Chinese securities market to now, regulators, listed companies with a management information disclosure is wrong with that?
Wuliangye checked from this incident, two of these problems can give a simple answer. Wuliangye alleged "three sins" were committed before 2007, including "two crimes" for the 2000 and 2001. Why can hide for so long, why so long have not been found? During this period the number of deceived investors Yeah. SFC to investigate that Wuliangye in 2006, 2007, 2008, semiannual reports and annual report are above the monetary funds of funds to be reflected as a normal, not provided for the corresponding impairment, suspected of inflated profits. Inflated profits for three consecutive years, why not in possession, no investigations? Annual accounting firm designated by the Commission examined how the annual examination of the? Should bear the responsibility? In the end there is the same as the number of listed companies as there are significant Wuliangye disclosure violations of the law has not been found? Wuliangye serious offense is a fact, and the fact that regulatory authorities allow such illegal existence for so long, can not be divorced from stakeholders, but also the responsibility of the investigated dereliction of duty.
Another point is, "according to reports from the public, July 28, 2009 SFC Wuliangye Yibin Co., Ltd. suspected of illegal activities in the record for audit," then, if there is no report from the masses, Wuliangye violations can not be found will continue to deceive investors? as "unarmed" and people could have found a very strict confidentiality Wuliangye conceal the crime, the truth leads, and our regulators doing? middle of so many organizations, large-scale inspection checks such as able to detect? Why become a cat capable of doing, check the inspectors group of rats? This regulators, accounting firms, check why the broad variety of investors believe, trust and credibility are truly lost? This audit inspection teams in addition to waste of resources, without any benefit.
The development of China's securities market to now, if even an information disclosure of listed companies are managed well, not to mention the three principles of open and fair justice, the Chinese stock market also can not see hope.
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