GuShiio.com The lawyer told reporters,”There is a high probability that this situation is caused by the court making a mistake when writing the document, and not verifying it clearly when synchronizing it to the platform, resulting in chain errors.”
Embarrassing! Xinzhou Group’s securities brokerage equity was auctioned off by judicial authorities, and the announcement was wrong.”Hualong Securities” was changed to “Longhua Securities”
Photo source: Visual China
Blue Whale News, February 18 (Reporter Hu Jie)Blue Whale News reporter discovered that recently, a low-level error occurred in a judicial auction announcement.
According to the Alibaba Assets Judicial Auction Platform, 11623235 shares of Longhua Securities Equity Co., Ltd. held by Xinzhou Group Co., Ltd. will be auctioned at 10:00 on February 24. The bidding cycle will be one day. The starting price will be approximately 16.2725 million yuan, which is 30% off the market price of 23.2465 million yuan.
In fact, there is no Longhua Securities Equity Co., Ltd. in the securities industry, and the company name column of the national enterprise credit information disclosure report on the project auction page shows that it is Hualong Securities Co., Ltd.(hereinafter referred to as Hualong Securities).
The shareholder register on Hualong Securities official website also shows that Xinzhou Group Co., Ltd.(hereinafter referred to as Xinzhou Group) holds 40 million shares of Hualong Securities, with a shareholding ratio of 0.6314%. From this point of view, the title of the auction announcement mistakenly wrote Hualong Securities shares as Longhua Securities shares, which made a joke.
Photo source: Ali Assets Judicial Auction Platform
The reporter further discovered that the above errors did not only appear in the auction title. The same clerical error occurred in the auction target investigation status sheet and the execution order issued by the West Lake District People’s Court of Hangzhou City.
Photo source: Ali Assets Judicial Auction Platform
The reporter contacted the official customer service of Alibaba Assets for consultation. The other party said that according to the auction information displayed on the website interface, the above-mentioned auction title, bidding announcement, and subject matter introduction should be uploaded by the bidder. The bidder of the auction is the People’s Court of West Lake District in Hangzhou City, and the service agency is China Credit Suisse Legal Service.
“There is a high probability that this situation is caused by the court making a mistake when writing the document, and not verifying it clearly when synchronizing it to the platform, resulting in chain errors. rdquo; Zhang Qi, a senior partner lawyer at Yingke Law Firm, told reporters.
According to the auction ruling, the auction of Hualong Securities ‘equity was related to the contract dispute between the applicant for execution, Chengcheng Holding Group Co., Ltd., and the person subject to execution, Xinzhou Group. Xinzhou Group was ordered to pay the executor 8,395,698.79 yuan and interest, and bear an additional case execution fee of 69378 yuan. After the expiration of the period, the person subject to execution fails to perform the obligations determined in the legal document. During the execution process, the People’s Court of West Lake District of Hangzhou City seized 11623235 shares of Hualong Securities held by Xinzhou Group, the person subject to execution, and in accordance with relevant regulations, ruled to auction the above-mentioned equity held by Xinzhou Group, the person subject to execution.
According to the official website of Hualong Securities, the company was established in May 2001. It is a comprehensive fully licensed securities operating institution organized and established by the People’s Government of Gansu Province and approved by the China Securities Regulatory Commission. It has a registered capital of 6.335 billion yuan. It mainly initiated the establishment of Huashang Fund Management Company, controlling Hualong Futures Co., Ltd., and mainly initiated the establishment of Gansu Equity Trading Center and wholly controlled Jincheng Capital Management Co., Ltd.
In 2016, Hualong Securities successfully listed on the New Third Board, and was delisted in August 2018 and rushed to list on A-shares. According to the information disclosed by the Shanghai Stock Exchange, the Shanghai Stock Exchange accepted Hualong Securities ‘main board IPO application in March 2023. It is currently in an inquiry status and is still in the sprint process.
In terms of the latest results, in 2023, Hualong Securities achieved operating income of 1.197 billion yuan and net profit attributable to the parent company was 322 million yuan, down 10.93% and 24.2% respectively from the same period last year. (Blue Whale News Hu Jiehujie@lanjinger.com)
