China Bester Group Telecom (603220.SH) announced that the company recently received a decision from the Hubei Securities Regulatory Bureau regarding the issuance of a warning letter to China Bester Group Telecom...
Intelligent Financial APP News, China Bester Group Telecom (603220.SH) announced that the company recently received a decision from the Hubei Securities Regulatory Bureau on issuing a warning letter to China Bester Group Limited, Li Liubing, and Lu Nianqing (No. 44 of 2024). After investigation, the company was found to have the following violations:
Firstly, according to the announcement disclosed by the company on October 25, 2023, the company signed a Computing Technology Service Contract with WILDLOOK TECH PTE.LTD on October 20, 2023, providing computing power services to the other party, with a contract amount of 20 million US dollars. The company was supposed to deliver the computing power by December 31, 2023. However, due to changes in the customer's computing power requirements, this contract has not been fulfilled. Regarding the long-standing non-performance of the contract and the intended termination, the company only disclosed the subsequent progress in the 2024 semi-annual report.
Secondly, according to the announcement disclosed by the company on November 15, 2023, the company signed a computing service technology framework contract with Beijing Zhongke Xinyuan Technology Co., Ltd. on November 14, 2023, with a contract amount of 0.346 billion yuan. The company was required to deliver all computing technology services by March 30, 2024. However, due to external factors affecting changes in this contract, it has not been fulfilled. The company only disclosed the subsequent progress in the 2024 semi-annual report regarding the long-standing non-performance of the contract and the intended termination.
The above actions violated Article 5, Paragraph 2 of the 'Measures for the Administration of Information Disclosure by Listed Companies' (CSRC Order No. 182). The company's then Chairman and General Manager Li Liubing and the then Secretary of the Board of Directors Lu Nianqing failed to fulfill their duties of diligence and responsibility in accordance with Article 51, Paragraph 2 of the 'Measures for the Administration of Information Disclosure by Listed Companies' (CSRC Order No. 182), and bear primary responsibility for the above facts of the company. In accordance with Article 52, Paragraph 3 of the 'Measures for the Administration of Information Disclosure by Listed Companies' (CSRC Order No. 182), the Hubei Securities Regulatory Bureau decided to issue a warning letter to the company, Li Liubing, and Lu Nianqing as an administrative oversight measure, and record it in the integrity files of the securities and futures market.