Busen Shares Were Re Examined By The Shenzhen Stock Exchange Due To The Lack Of Timely Consideration Of Assets Impairment.

The Shenzhen Stock Exchange website announced the 3 on the right.

Supervision letter of limited company (Busen shares) (small and medium board supervision letter [2018] 175th).

Regulatory letter shows that in April 23, 2018, Busen shares disclosed the 2017 annual report. The company's total assets impairment provision in 2017 was 52 million 769 thousand and 800 yuan, accounting for 2016 of its ownership.

799.6%.

Busen shares did not submit the matter to the board of directors before the end of February 2018 to carry out relevant information disclosure obligations.

The Shenzhen Stock Exchange pointed out that the above behavior of Busen shares violated the provisions of Article 2.1, section 11.11.3 of the Listing Rules of the stock market (2014 Revision) and the provisions of article 7.6.3 of the guidelines for the standardized operation of Listed Companies in small and medium-sized enterprises (revised in 2015).

In response, the Shenzhen Stock Exchange asked the board of directors to give full attention to the above problems and draw lessons from them to stop the recurrence of these problems.

It is noteworthy that this is the letter of supervision which Busen received again after being questioned by the Shenzhen Stock Exchange in August 29th.

In the August 29th announcement, the Shenzhen Stock Exchange asked Busen to disclose the real reason for the resignation of the chief financial officer. For this reason, Busen said it resigned for personal reasons.

In addition, Busen has been repeatedly involved in external security cases.

In October 2017, Limited by Share Ltd of Tianma Bearing Group signed the "loan guarantee contract" with the Deqing County SME financial service center limited. The Zhejiang Busen contract was signed.

Limited by Share Ltd,

(11.200,0.14,1.27%) before the actual controlling shareholder Xu Maodong and other listed as the guarantor, at that time, Busen announced that it could not exclude the possibility of forgery and private seal, and reported it to the local police.

In June of this year, Shenzhen trust and wealth Cci Capital Ltd said that 40 million yuan loan companies guaranteed by Busen on the platform did not repay in time. Busen offered unlimited joint and several liability guarantee in this project.