On the evening of June 12, ST Mosaic issued an announcement stating that the company and its actual controller Zhao Xiaoqiang recently received the "Notification of Case Filing" from the China Securities Regulatory Commission. Due to suspected violations of information disclosure laws, the China Securities Regulatory Commission decided to file a case against the company and Zhao Xiaoqiang.
Image source: Company announcement
ST Mosaic opened with a one-word limit today. This is the sixth consecutive trading day with a one-word limit. Due to the illegal occupation of huge amounts of funds by the controlling shareholder and related parties, ST Mosaic was just issued other risk warnings last week.
Image source: CSI Taurus APP
Both the company and the actual controller were filed
According to the announcement, ST Mosaic received the "Notification of Case Filing" from the China Securities Regulatory Commission on June 9, 2022, and the company's actual controller Zhao Xiaoqiang was registered on June 10 On the same day, I received the "Notice of Filing a Case" from the China Securities Regulatory Commission. Due to suspected violations of information disclosure laws and regulations, the China Securities Regulatory Commission decided to file a case against the company and Zhao Xiaoqiang.
company stated that during the filing period, the company and the actual controller will actively cooperate with the China Securities Regulatory Commission’s investigation and strictly perform information disclosure obligations on relevant matters.
Industry insiders said that it is not surprising that ST Mosaic was filed by the China Securities Regulatory Commission. Last week, due to illegal misappropriation of funds by the controlling shareholder and related parties, other risk warnings were implemented on the company's stock, and the stock abbreviation was changed from "Legg Mason Culture" to "ST Legg Mason".
Picture source: Company announcement
Affected by this, the company's stock price started a downward trend last week and fell by the limit for 5 consecutive trading days. On June 13, ST Meisheng opened at 4.18 yuan per share and the latest market value was 3.802 billion yuan.
has illegally occupied huge amounts of funds for two consecutive years
According to the announcement, the company’s controlling shareholder Mosaic Holdings Group and its related parties have transferred a total of 2.334 billion yuan of funds through indirect transfers in 2021, and a total of 1.811 billion yuan of transferred funds. As of 2021 The balance as of December 31, 2018 was RMB 633 million. As of now, the balance of illegally occupied funds is 621 million yuan.
In fact, as early as 2020, the controlling shareholder and related parties illegally occupied 483 million yuan in capital through external investment and other methods. In December last year, the company was warned by the Zhejiang Securities Regulatory Bureau due to a series of issues such as illegal capital occupation by the controlling shareholder and related parties, illegal guarantees, freezing of the actual controller's shares, and failure to disclose judicial auction matters in a timely manner. In addition, the company and relevant parties were publicly condemned by the Shenzhen Stock Exchange. According to
data, ST Mosaic’s main products include IP derivatives, animation, games and other cultural products, as well as services such as advertising and distribution business. The company's performance has continued to decline in recent years, with a loss of over 938 million yuan in 2020 and another loss of 237 million yuan in 2021. In the first quarter of this year, the company once again lost 5.086 million yuan.
In December last year, due to the concept of the metaverse, ST Mosaic's stock price once fell 7 times in 8 days, nearly doubling. However, after the hype died down, the company's stock price continued to decline and is now "halved" from last year's high.
Three independent directors confronted the actual controller for illegally occupying capital
html On April 30, ST Mosaic released its 2021 annual report, disclosing that the controlling shareholder and its related parties illegally occupied 633 million yuan of funds, and the company correspondingly accrued bad debt provisions of 63.2683 million yuan.In addition, the company's 2021 financial report has also been issued with a qualified audit report. The matters involved include the occupation of funds by the controlling shareholder and its related parties, the acquisition of equity in Jingdezhen Xinyin Investment Development Co., Ltd., and internal controls such as fund management and external guarantees. Failure matters.
html On May 5, the Shenzhen Stock Exchange issued a letter of inquiry, requiring a detailed description of the time, amount, and method of occupancy of each fund, whether the company's relevant approval procedures have been fulfilled, the main responsible person, and the specific time for the controlling shareholder to repay the funds. amount. In addition, the Shenzhen Stock Exchange also requires companies to explain the specific reasons for making provision for bad debts and whether all occupied funds can be recovered. After the release of's third quarterly report last year, the Shenzhen Stock Exchange issued a letter of inquiry, requesting the company to explain the reasons and rationality for investing in six companies on the same day, and whether it constituted the occupation of funds or the transfer of interests. It is worth noting that in the reply announcement, the three independent directors unanimously criticized the actual controller's illegal occupation of capital, saying that these six investments were deliberate illegal operations by the company in order to achieve the purpose of the actual controller occupying funds or transferring benefits.
html On the evening of June 12, ST Mosaic announced that it would once again postpone its response to the inquiry letter, saying that it would speed up the process, complete the response as soon as possible and fulfill its information disclosure obligations in a timely manner.
