Due to the big face change in performance, ST Kangmei and its executives received a warning letter from the Guangdong Securities Regulatory Bureau

Due to the “big face change” in performance, ST Kangmei and its executives received a warning letter from the Guangdong Securities Regulatory Bureau
On May 10, ST Kangmei announced that the company and its executives had recently received the “Decision on Taking a Warning Letter to Kangmei Pharmaceutical Co., Ltd., Ma Xingtian, Zhuang Yiqing, and Tang Xu” of the China Securities Regulatory Commission Guangdong Supervision Bureau.The relevant situation is: On January 23, 2020, Kangmei Pharmaceutical released the 2019 annual performance pre-loss announcement, disclosing the company’s expected net profit attributable to shareholders of the listed company in 2019 (hereinafter referred to as “net profit”) of approximately -13.500 million to -16.500 million yuan.On April 30, Kangmei Pharmaceutical released its main operating performance report for 2019, disclosing that the reorganized net profit was revised to -36.4.8 billion yuan.The company’s disclosed net profit for 2019 has changed after the amendment. The information related to the performance announcement disclosed by the reorganization is inaccurate. The company failed to disclose the announcement of the performance announcement amendment in a timely manner, violating Articles 20 and 20 of the Administrative Measures for Information Disclosure of Listed CompaniesThe relevant provisions of Article 5.Air Force, ST Kangmei has received the supervision work letter from the Shanghai Stock Exchange.According to the Shanghai Stock Exchange, ST Kangmei’s main operating performance in 2019 is different from the previous performance forecast, and the company did not correct the performance forecast in time.According to the “Stock Listing Rules”, the company should promptly issue performance announcements and correction announcements, fully alert the relevant risks, and require ST Kangmei Nian audit auditors to be diligent and responsible, strictly abide by the practice standards, maintain reasonable professional suspicion, and implement adequate and appropriateAudit procedures, earnestly carry out the audit work of the company’s 2019 annual report.Editor Sun Yong