On February 8, Millennium Jewelry's parent company Aidier received a letter of concern from the Shenzhen Stock Exchange, asking him to explain the main reasons and purpose of Millennium Jewelry's illegal invoice issuance of 194 million yuan, and whether there is financial fraud i

Modern Express News (Reporter Gu Wei/Text Xu Yang/Photo) Jiangsu Millennium Jewelry recently received the "Tax Administrative Penalty Decision" for illegally issuing 194 million yuan invoices, and was fined 500,000 yuan and confiscated the illegal income of 260,000 yuan. On February 8, the parent company of Millennium Jewelry received a letter of concern from the Shenzhen Stock Exchange, asking it to explain the main reasons and purpose of Millennium Jewelry's illegal invoices of 194 million yuan, and whether there is financial fraud in fictitious business. Aidel acquired Millennium Jewelry in 2019, but this acquisition brought about a series of legacy problems. In 2021, Aidier's actual controller Su Riming once criticized the company's chairman Li Yong for "fixed value-added tax invoices" during his tenure as the head of Thousand Years Jewelry.

△ The thousand-year-old jewelry store located in the shopping mall jewelry district was fined. The exchange sent a letter to ask about

jewelry listed company Aidier announced on February 8 that his wholly-owned subsidiary Jiangsu Millennium Jewelry recently received the "Tax Administrative Penalty Decision" issued by the Third Inspection Bureau of the Nanjing Taxation Bureau of the State Administration of Taxation. Millennium Jewelry issued a total of 194 million yuan in invoices of two new energy companies in Jiangxi Province in violation of relevant regulations, with a tax amount of 25.2253 million yuan, and an illegal profit of 262,800 yuan. The above-mentioned illegal income was confiscated and a fine of 500,000 yuan was imposed. The penalty for

immediately attracted the Shenzhen Stock Exchange's letter of concern. Previously, in September 2021, Aidil announced that the actual controller Su Riming had proposed to convene an extraordinary general meeting of shareholders, requesting to re-elect the board of directors and remove Li Yong from his posts, director, chairman, president, legal representative, etc. One of the reasons is that "the wholly-owned subsidiary Millennium Jewelry is suspected of falsely issuing value-added tax invoices", and Li Yong is the original actual controller of Millennium Jewelry.

However, the company stated at the time that on May 25, 2020, Millennium Jewelry received the "Tax Matters Notice" issued by the Taxation Bureau. On May 13, 2021, Millennium Jewelry submitted relevant written statements, defense reports and other materials to the Taxation Bureau. As of the date of announcement (September 9, 2021), Millennium Jewelry has not received any follow-up notice requests from the tax bureau and its feedback, and the company has not received any investigation results or penalty decisions from relevant regulatory and law enforcement departments.

In the letter of concern on February 8, the Shenzhen Stock Exchange asked Aidir to explain the specific time when he received the relevant administrative penalty notice and administrative penalty decision, which was consistent with the content of the company's previous reply to the exchange inquiry letter, and whether the company has fulfilled its information disclosure obligations in a timely manner for matters related to this administrative penalty.

The Shenzhen Stock Exchange also requires the company to explain whether the two new energy companies in Jiangxi Province and their major shareholders involved in the "Tax Administrative Penalty Decision" have an affiliated relationship with the listed company and the directors, supervisors and senior executives, or with the company's controlling shareholder, actual controller, shareholders holding more than 5% of the shares. Regarding the specific situation of Millennium Jewelry's illegal issuance of 194 million yuan invoices to two companies, including but not limited to the main reasons and purposes of 194 million yuan invoices, and whether there are real trading activities, the exchange also requires Aidier to explain them one by one.

Based on the answers to the above questions, the Shenzhen Stock Exchange requires the company to explain whether there is financial fraud in Millennium Jewelry's fictitious business, whether accounting errors should be corrected for previous years' financial reports, and whether similar matters exist in other subsidiaries of the company. According to the requirements of the Shenzhen Stock Exchange, the company should submit relevant explanatory materials and disclose them to the public before February 15.

△The "sequelae" of the acquisition of the thousand-year-old jewelry store

, located in the shopping mall jewelry area, has lost three consecutive years of performance and was listed in 2015. Aidier, who was listed in 2015, was founded by Su Riming and Di Ailing, and is mainly engaged in the jewelry and diamond jewelry business. Shortly after its listing, Aidel began to make crazy acquisitions. In 2017, Aidier first acquired 51% stake in Shenzhen Dapan Jewelry for 255 million yuan, and then announced that he planned to acquire 100% of Century Yuan's equity and 25.25% of Shenzhen Diamonds. The latter two acquisitions were ultimately not completed. The largest acquisition was in September 2017. Aidier announced that he planned to issue shares to purchase 100% of the shares of two companies, Jiangsu Millennium Jewelry and Chengdu Shumao Diamond, with the two companies being priced at RMB 900 million and RMB 700 million respectively. The private placement was finally completed in April 2019. The original founders of Millennium Jewelry, Li Yong and Wang Junxia, ​​acquired 8.38% and 2.12% of Aidier's shares respectively.

But this acquisition left hidden dangers for the company's subsequent development. As Aidier's stock price fell, the pledge pressure of Su Riming's family continued to emerge, and the capital chain became increasingly tense. Then part of the equity was transferred to Huijin Group and Yongsheng Development, a subsidiary of Fujian Longyan State-owned Assets. In April 2020, Su Riming resigned as chairman of a listed company, and Li Yong, the former actual controller of Millennium Jewelry, became the new chairman of Aidier.

By May 2021, Li Yong's term of office had already reached and the board of directors should have been re-elected, but the company has not held a new election on the grounds that it has applied for bankruptcy and reorganization by its creditors. A few months later, Su Riming applied for a shareholders' meeting as the largest shareholder, demanding the removal of Li Yong. He also stated that during his tenure as chairman and legal person of Millennium Jewelry, Li Yong was suspected of falsely issuing a 470 million alloy electrolytic copper value-added tax invoice in order to complete the performance of the listed company bet on .

On November 12 last year, Aidier announced that the company's shareholders Di Ailing and Su Yongming (Su Riming's brother) passed the ruling of the execution court to passively reduce their holdings of the company's 18.27 million shares by using stocks to offset debts. After the transfer of

was completed, the shareholding ratio of Su Riming and his wife and his wife and his wife and their joint actors dropped from 24.93% to 20.9%, while the total shareholding ratio of the creditor Fujian Longyan Culture and Tourism Huijin and his joint actors increased from 15.31% to 19.33%. Li Yong and his wife and his joint actors held a total of 13.39%. The company's equity is relatively scattered and the shareholding ratio of the top two shareholders is relatively close. The company has become a state of no actual controller, and Su Riming and his wife has officially lost their actual controller status. The shares of Su Riming and his wife have been frozen and have been frozen in judicial orders.

From crazy mergers and acquisitions to company "infight", Aidier's stock price and performance have plummeted. In 2019 and 2020, the company suffered losses of 300 million yuan and 1.57 billion yuan respectively.