Zhithong Finance APP News, ST jinzhou port (600190.SH) announced that the company recently received the "Administrative Penalty Decision" (〔2024〕 No. 96) issued by the China Securities Regulatory Commission. After investigation, jinzhou port has the following illegal facts:

One, the relevant situation of jinzhou port's trade business: In order to increase revenue and profits, meet the loan demands of banks, and without any commercial substance, jinzhou port conducted trade business with seven companies such as Dalian Hejing Trading Co., Ltd. (referred to as Dalian Hejing), Shanghai Yinhong International Trade Co., Ltd. (referred to as Shanghai Yinhong), Ningbo Langyi Energy Co., Ltd. (referred to as Ningbo Langyi), Ningbo Bairong Energy Co., Ltd. (referred to as Ningbo Bairong), Chongqing Yuechengchuan Poly Trading Co., Ltd. (referred to as Chongqing Yuechengchuan Poly), Shanghai Shengzhe International Trade Co., Ltd. (referred to as Shanghai Shengzhe), and Zhoushan Fengjuyishang Energy Co., Ltd. (referred to as Zhoushan Fengjuyishang).

Two, false records in the annual reports of jinzhou port from 2018 to 2021: From 2018 to 2021, jinzhou port inflated the operating income, cost of goods sold, and total profit in the trade business conducted with the aforementioned companies, leading to false records in the annual reports from 2018 to 2021. Among them, in 2018, the operating income was inflated by 2,120,276,859.08 yuan, cost of goods sold by 2,099,567,800.35 yuan, and total profit by 20,709,058.73 yuan. In 2019, the operating income was inflated by 3,947,122,916.18 yuan, cost of goods sold by 3,908,124,086.94 yuan, and total profit by 38,998,829.24 yuan. In 2020, the operating income was inflated by 2,481,637,365.23 yuan, cost of goods sold by 2,437,479,939.72 yuan, and total profit by 44,157,425.51 yuan. In 2021, the operating income was inflated by 75,113,954.95 yuan, and total profit by 75,113,954.95 yuan.

Former chairman Xu Jian and former vice chairman and general manager Liu Hui are the directly responsible managers for the illegal information disclosure of jinzhou port mentioned above. Former director Bao Chenqin, former chief financial officer Li Ting, former deputy general manager Ning Hongpeng, and former deputy general manager Cao Cheng are other directly responsible persons for the illegal information disclosure of jinzhou port mentioned above.

The annual reports disclosed by jinzhou port from 2018 to 2021 contain false records, violating the provisions of Article 78, paragraph 2 of the Securities Law, constituting the illegal acts described in Article 197, paragraph 2 of the Securities Law. Xu Jian, Liu Hui, Bao Chenqin, Li Ting, Ning Hongpeng, and Cao Cheng failed to fulfill their duties diligently, violating the provisions of Article 82, paragraph 3 of the Securities Law, constituting the situations described in Article 197, paragraph 2 of the Securities Law.

Based on the facts, nature, circumstances, and social harm of the illegal acts of the parties, in accordance with Article 197, paragraph 2 of the Securities Law, the China Securities Regulatory Commission has decided: First, order Jinzhou Port Co., Ltd. to make corrections, issue a warning, and impose a fine of 8 million yuan; Second, issue warnings to Xu Jian, Liu Hui, and impose fines of 4 million yuan each; Third, issue warnings to Bao Chenqin, Li Ting, Ning Hongpeng, and impose fines of 2 million yuan each; Fourth, issue a warning to Cao Cheng and impose a fine of 1 million yuan.

Xu Jian and Liu Hui's illegal behavior is serious, with a relatively severe illegal circumstances. According to Article 221 of the Securities Law, Article 3(1) and Article 7(1) of the Provisions on Market Entry Prohibitions of the Securities Market (CSRC Order No. 185), the China Securities Regulatory Commission has decided to impose a 10-year market entry ban on Xu Jian and Liu Hui.