When it comes to capital market violations, *ST Kangde is a typical case.
Late last night, *ST Kangde issued an announcement saying that it received the second "Prior Notice of Administrative Penalties and Market Ban" from the CSRC.
The notice mentioned: "The company may have a possibility of touching the mandatory delisting situation stipulated by the Shenzhen Stock Exchange. The company's stock may be subject to a major illegal forced delisting. The company's stock has been suspended on July 8, 2019, and the company's stock will continue to be suspended. "(News Link: Late Night Heavy! Kangdexin may face a forced delisting!)
From material leaders to tens of billions of counterfeiting, from industrial heroes to being prisoners of ranks. The story of Kang Dexin and its founder Zhong Yu is coming to an end.
Six months after the establishment of the new shareholder meeting, yesterday evening, *ST Kangde issued an announcement saying that it received the Securities Regulatory Commission’s second “Prior Notice of Administrative Penalties and Market Ban”, which stated that the company’s stock may be subject to major violations of the law Forced delisting.
Kangdexin is a company that deserves our respect. It has won the global dominance of pre-coated film from American companies, breaking the monopoly of Japanese and Korean companies on the Chinese optical film market. In addition, it also grabbed 90% of BMW's automotive window film business from US 3M.
When everything seems to be very beautiful, like many successful companies, it has also experienced a situation of ups and downs.
Founder Zhong Yu, due to the failure to bet on the naked eye 3D project and the generous layout of the carbon fiber field, has seriously affected the company's cash flow. After a series of financing methods such as stock pledge, intensive issuance and bank borrowing, Zhong Yu finally An illegal step was taken.
After that, the financial fraud case of 10 billion yuan happened in the east window, Kang Dexin's optical film business was in trouble, a large number of employees left, and 130,000 investors were smashed...
Looking back on the success or failure of Kang Dexin and Zhong Yu, on the surface, it is the mismatch between the ambition and strength of the enterprise leader. In fact, it is the lack of awe of the enterprise leader for the integrity of the modern enterprise management system and the capital market. It also includes investment banks, banks and audit institutions that cooperate with it, and lacks awe of the market.
Kang Dexin's story is coming to an end. It may have to say goodbye to us in the future, which should not be regretted. The next thing to pay attention to is the road of rights protection for 130,000 shareholders.
