echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Active Ingredient News > Drugs Articles > The China Securities Regulatory Commission intends to fine Asia Pacific Pharmaceuticals 600,000 yuan

    The China Securities Regulatory Commission intends to fine Asia Pacific Pharmaceuticals 600,000 yuan

    • Last Update: 2021-03-17
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    5;">On February 28, Asia Pacific Pharmaceuticals issued an announcement stating that on the 26th, the company received the "Administrative Penalty and Market Prohibition Prior Notice" issued by the Zhejiang Regulatory Bureau of China Securities Regulatory Commission (Zhe Punishment [2021] 2 number).

    5;">After investigation, the facts of Asia Pacific Pharmaceuticals suspected of breaking the law are as follows:

    5;">At the end of 2015, Asia Pacific Pharmaceuticals acquired 100% of Shanghai New Summit Biomedical Co.


    , Ltd.
    (hereinafter referred to as "Shanghai New Summit").


    5;">The above-mentioned actions of Asia-Pacific Pharmaceuticals violated Article 63 of the 2005 "Securities Law of the People's Republic of China" (hereinafter referred to as the 2005 "Securities Law") and constituted the 190th "Securities Law" of 2005.


    Article 3 The illegal act of information disclosure that "the issuer, listed company or other information disclosure obligor fails to disclose information in accordance with regulations, or the information disclosed contains false records, misleading statements, or major omissions".


    5;">At that time, Ren Jun was the chairman and general manager of Shanghai New Peak.


    He was fully responsible for the operation and management of Shanghai New Peak.


    5;">At that time, Chen Yaogen was the chairman and general manager of Asia Pacific Pharmaceuticals, and concurrently a director of Shanghai New Summit.


    He failed to organize Asia Pacific Pharmaceuticals to take necessary and effective control over Shanghai New Summit.


    5;">The then vice chairman, general manager and director Lu Xuxing failed to guarantee the truthfulness, accuracy and completeness of the financial report.


    He participated in the review and approval of the board of directors and signed the 2016, 2017 and 2018 annual reports.


    5;">The then director and chief financial officer He Zhen failed to guarantee the truthfulness, accuracy and completeness of the financial report, and as the person in charge of the accounting work and the person in charge of the accounting department, he signed the 2016, 2017 and 2018 annual reports.


    Other persons directly responsible for information disclosure violations.


    5;">The then director, secretary of the board of directors, and deputy general manager Shen Yiyi signed the 2016, 2017 and 2018 annual reports.


    As the secretary of the board of directors, he failed to guarantee the truthfulness, accuracy and completeness of the company's information disclosure, which is another illegal act of Asia Pacific Pharmaceuticals' information disclosure.


    5;">Sun Liming, then secretary of the board of directors and deputy general manager, signed the 2016 annual report.


    As the secretary of the board of directors, he failed to guarantee the truthfulness, accuracy and completeness of the company's information disclosure.


    5;">Hu Baokun, then deputy general manager, Wang Liyun, then deputy general manager, and Tan Qinshui, then deputy general manager, signed the 2016, 2017 and 2018 annual reports.
    They failed to diligently and diligently ensure that the company’s information disclosure is true, accurate and complete.
    Other persons directly responsible for illegal information disclosure of the pharmaceutical industry.

    5;">Current Director Zhong Wanzhen, Current Director Ping Huabiao, Current Independent Director Chen Shuqing, Current Independent Director Yao Xianguo, Current Independent Director Zhang Yongjian, Current Independent Director Zhan Jinbiao, Current Independent Director He Daan, Current Independent Director Mo Guoping , The then Supervisor Cheng Huaqiang, the then Supervisor Zhao Keke, and the then Supervisor Wang Guoxian, guarantee that the contents disclosed in the corresponding annual report during the term of office are true, accurate and complete, and there is no evidence that they have been diligent and responsible.
    This is an illegal act of information disclosure by Asia Pacific Pharmaceuticals.
    Other directly responsible personnel.
    Based on the facts, nature, and circumstances of the party’s illegal acts, and in accordance with the provisions of the first paragraph of Article 193 of the 2005 Securities Law, the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission intends to decide:

    5;">1.
    The Asia Pacific Pharmaceuticals will be ordered to make corrections, given a warning, and imposed a fine of 600,000 yuan;

    5;">2.
    Give a warning to Ren Jun and Chen Yaogen and impose a fine of 300,000 yuan respectively;

    5;">3.
    Lu Xuxing, He Zhen, and Shen Yiyi were given warnings and fined 150,000 yuan respectively;

    5;">4.
    Give warnings to Sun Liming, Hu Baokun, Wang Liyun, and Tan Qinshui, and impose a fine of 80,000 yuan respectively;

    5;">5.
    Warnings were given to Zhong Wanzhen, Ping Huabiao, Chen Shuqing, Yao Xianguo, Zhang Yongjian, Zhan Jinbiao, He Daan, Mo Guoping, Cheng Huaqiang, Zhao Keke, and Wang Guoxian, and were fined 30,000 yuan.
    In addition, the circumstances of Ren Jun and Chen Yaogen’s illegal acts were serious and were based on Article 233 of the 2005 Securities Law and Articles 3 and 5 of the Securities Market Prohibition Regulations (CSRC Order No.
    115) According to regulations, the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission plans to ban Ren Jun and Chen Yaogen from entering the securities market for five years.
    (Sina Pharmaceutical News)

    5;">On February 28, Asia Pacific Pharmaceuticals issued an announcement stating that on the 26th, the company received the "Administrative Penalty and Market Prohibition Prior Notice" issued by the Zhejiang Regulatory Bureau of China Securities Regulatory Commission (Zhe Punishment [2021] 2 number).

    5;">After investigation, the facts of Asia Pacific Pharmaceuticals suspected of breaking the law are as follows:

    5;">At the end of 2015, Asia Pacific Pharmaceuticals acquired 100% of Shanghai New Summit Biomedical Co.
    , Ltd.
    (hereinafter referred to as "Shanghai New Summit").
    Shanghai New Summit became a wholly-owned subsidiary of Asia Pacific Pharmaceuticals and was included in the consolidated statement.
    From 2016 to 2018, Shanghai Xinfengfeng confirmed that it came from Anhui Xianlin Biotechnology Co.
    , Ltd.
    , Shanghai Yongsheng Pharmaceutical Technology Co.
    , Ltd.
    , Shanghai Pulinxixun Health Consulting Co.
    , Ltd.
    , and Yueqing Maibo without real business.
    Biological Engineering Co.
    , Ltd.
    , Jiangsu Sanhe Biological Engineering Co.
    , Ltd.
    , Haian Gleason Biotechnology Co.
    , Ltd.
    , Shanghai Haojian Medical Technology Co.
    , Ltd.
    , Shanghai Wumu Medical Technology Co.
    , Ltd.
    , Shanghai Zhuohan Medical Technology Co.
    , Ltd.
    , Nanjing Wenlan The sales income of customers such as Medical Technology Co.
    , Ltd.
    , and funds flow through third-party entities such as Wuhan Optics Valley Clinical Medical Technology Co.
    , Ltd.
    , Foshan Kelin Medical Research Management Co.
    , Ltd.
    , and Yueqing Yilin Health Medical Foundation.
    In 2016, Shanghai New Peak’s total inflated operating income was 100.
    5327 million yuan, inflated operating costs were 64.
    7094 million yuan, and the total inflated profits were 33,517,300 yuan, accounting for 11.
    65% of the total revenue, operating costs, and total profits disclosed by Asia Pacific Pharmaceutical during the same period.
    12.
    37% and 23.
    29%.
    In 2017, Shanghai New Peak’s total inflated operating income was 176,082,400 yuan, inflated operating costs was 101,860,400 yuan, and the total inflated profits was 73,007,800 yuan, which accounted for 16.
    26% of the total revenue, operating costs, and total profits disclosed by Asia Pacific Pharmaceuticals in the same period.
    16.
    96% and 31.
    08%.
    In 2018, Shanghai New Peak's total inflated operating income was 177,316,500 yuan, inflated operating costs was 108,173,200 yuan, and total inflated profits was 66,870,300 yuan, which accounted for 13.
    54% of the total revenue, operating costs, and total profits disclosed by Asia Pacific Pharmaceutical during the same period.
    14.
    73% and 27.
    70%.
    The inclusion of the above financial data into the consolidated statements of Asia Pacific Pharmaceuticals resulted in false records in the financial data and related disclosures of Asia Pacific Pharmaceuticals' 2016, 2017, and 2018 annual reports.

    5;">The above-mentioned actions of Asia-Pacific Pharmaceuticals violated Article 63 of the 2005 "Securities Law of the People's Republic of China" (hereinafter referred to as the 2005 "Securities Law") and constituted the 190th "Securities Law" of 2005.
    Article 3 The illegal act of information disclosure that "the issuer, listed company or other information disclosure obligor fails to disclose information in accordance with regulations, or the information disclosed contains false records, misleading statements, or major omissions".

    5;">At that time, Ren Jun was the chairman and general manager of Shanghai New Peak.
    He was fully responsible for the operation and management of Shanghai New Peak.
    He organized and implemented continuous financial fraud.
    After he became a director of the company in May 2017, he knew that there were false records in the financial report and he still signed to ensure the disclosure of the content.
    Truth, accuracy, and completeness.
    He is primarily responsible for the above-mentioned illegal activities and is the person in charge directly responsible for the illegal information disclosure activities of Asia Pacific Pharmaceuticals.

    5;">At that time, Chen Yaogen was the chairman and general manager of Asia Pacific Pharmaceuticals, and concurrently a director of Shanghai New Summit.
    He failed to organize Asia Pacific Pharmaceuticals to take necessary and effective control over Shanghai New Summit.
    This led to the existence of Asia Pacific Pharmaceuticals 2016, 2017 and 2018 annual reports.
    False records are primarily responsible for the above-mentioned illegal activities, and are directly responsible for the illegal information disclosure activities of Asia Pacific Pharmaceuticals.

    5;">The then vice chairman, general manager and director Lu Xuxing failed to guarantee the truthfulness, accuracy and completeness of the financial report.
    He participated in the review and approval of the board of directors and signed the 2016, 2017 and 2018 annual reports.
    This is an illegal act of information disclosure by Asia Pacific Pharmaceuticals Other directly responsible personnel.

    5;">The then director and chief financial officer He Zhen failed to guarantee the truthfulness, accuracy and completeness of the financial report, and as the person in charge of the accounting work and the person in charge of the accounting department, he signed the 2016, 2017 and 2018 annual reports.
    Other persons directly responsible for information disclosure violations.

    5;">The then director, secretary of the board of directors, and deputy general manager Shen Yiyi signed the 2016, 2017 and 2018 annual reports.
    As the secretary of the board of directors, he failed to guarantee the truthfulness, accuracy and completeness of the company's information disclosure, which is another illegal act of Asia Pacific Pharmaceuticals' information disclosure.
    The person directly responsible.

    5;">Sun Liming, then secretary of the board of directors and deputy general manager, signed the 2016 annual report.
    As the secretary of the board of directors, he failed to guarantee the truthfulness, accuracy and completeness of the company's information disclosure.
    He was the other person directly responsible for the illegal information disclosure of Asia Pacific Pharmaceuticals.

    5;">Hu Baokun, then deputy general manager, Wang Liyun, then deputy general manager, and Tan Qinshui, then deputy general manager, signed the 2016, 2017 and 2018 annual reports.
    They failed to diligently and diligently ensure that the company’s information disclosure is true, accurate and complete.
    Other persons directly responsible for illegal information disclosure of the pharmaceutical industry.

    5;">Current Director Zhong Wanzhen, Current Director Ping Huabiao, Current Independent Director Chen Shuqing, Current Independent Director Yao Xianguo, Current Independent Director Zhang Yongjian, Current Independent Director Zhan Jinbiao, Current Independent Director He Daan, Current Independent Director Mo Guoping , The then Supervisor Cheng Huaqiang, the then Supervisor Zhao Keke, and the then Supervisor Wang Guoxian, guarantee that the contents disclosed in the corresponding annual report during the term of office are true, accurate and complete, and there is no evidence that they have been diligent and responsible.
    This is an illegal act of information disclosure by Asia Pacific Pharmaceuticals.
    Other directly responsible personnel.
    Based on the facts, nature, and circumstances of the party’s illegal acts, and in accordance with the provisions of the first paragraph of Article 193 of the 2005 Securities Law, the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission intends to decide:

    5;">1.
    The Asia Pacific Pharmaceuticals will be ordered to make corrections, given a warning, and imposed a fine of 600,000 yuan;

    5;">2.
    Give a warning to Ren Jun and Chen Yaogen and impose a fine of 300,000 yuan respectively;

    5;">3.
    Lu Xuxing, He Zhen, and Shen Yiyi were given warnings and fined 150,000 yuan respectively;

    5;">4.
    Give warnings to Sun Liming, Hu Baokun, Wang Liyun, and Tan Qinshui, and impose a fine of 80,000 yuan respectively;

    5;">5.
    Warnings were given to Zhong Wanzhen, Ping Huabiao, Chen Shuqing, Yao Xianguo, Zhang Yongjian, Zhan Jinbiao, He Daan, Mo Guoping, Cheng Huaqiang, Zhao Keke, and Wang Guoxian, and were fined 30,000 yuan.
    In addition, the circumstances of Ren Jun and Chen Yaogen’s illegal acts were serious and were based on Article 233 of the 2005 Securities Law and Articles 3 and 5 of the Securities Market Prohibition Regulations (CSRC Order No.
    115) According to regulations, the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission plans to ban Ren Jun and Chen Yaogen from entering the securities market for five years.
    (Sina Pharmaceutical News)

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.