seagamesmediacorp| What happened? This sales organization was terminated by several fund companies

2024年05月16日

On May 15, Boshi Fund announced that Boshi Fund will recently terminate its cooperation with Beijing Mid-term time Fund sales Company (hereinafter referred to as "Mid-term Times") in fund subscription, purchase, redemption, conversion, regular fixed investment, transfer trusteeship and other business.

"in order to protect the interests of fund investors, the company will terminate its cooperation with the mid-term fund sales business." Boshi Fund said in the announcement.

A number of public offering funds terminated their cooperation in the mid-term.

In fact, since the beginning of this year, a number of public offering funds have announced the termination of their cooperation with the mid-term era.

On April 30, Citic Construction Fund announced that it would terminate its cooperation with the medium-term era in the relevant fund sales business.

On March 4, the Penghua Fund announced that it would terminate its cooperation with the medium-term era in the fund sales business, including fund subscription, subscription, regular fixed investment, conversion and so on.

Since the beginning of this year, according to incomplete statistics, some public offering funds such as Huaan Fund, Western profit Fund, Yi Fonda Fund and ICBC Credit Suisse Fund have announced the termination of their cooperation with the fund sales business in the medium-term era.

The parent company faces delisting in the mid-term era.

According to the Mid-term Times website, the company was founded in 2012 and received approval from the Securities Regulatory Commission on the qualification of securities investment fund sales business in 2012. It is an independent fund sales organization focusing on the sale of public offering fund products. The official website also shows that the partners of the medium-term era include 22 fund companies, including the National Gold Fund, Baoying Fund, Jiahe Fund and so on.

Enterprise check shows that Jiang Rong, the actual controller in the middle period, is currently in a state of restricted high consumption. Moreover, Jiang Rong was issued a warning letter by the Beijing Securities Regulatory Bureau on September 28, 2023, saying that "the performance suffered a loss, but the performance notice was not disclosed in time, and Jiang Rong failed to do his duty diligently as the company's financial director."

Mid-term time Fund sales Co., Ltd. is a wholly-owned subsidiary of A-share listed companies in China. China's performance in the medium term has been poor in recent years, so it is possible to terminate the listing. Mid-term disclosure in China on April 29, 2023SeagamesmediacorpThe "notice on the risk warning and suspension of delisting of the company's shares" has been issued, and the company's shares have been delisted since the opening of the market on May 5, 2023.

seagamesmediacorp| What happened? This sales organization was terminated by several fund companies

On May 6, China received a "prior notice" from the Shenzhen Stock Exchange in the middle of the year. The advance notice points out that on April 30, 2024, the first annual report after the delisting risk warning was implemented for China's interim stock trading showed that the annual financial and accounting report for 2023 was issued with an audit report that could not express an opinion. The company touched No. 9 of the Stock listing rules of the Shenzhen Stock Exchange (revised in August 2023).SeagamesmediacorpIn the case of the termination of the listing of the shares specified in Article 3.11, it is proposed to decide to terminate the listing of the shares of the company. However, China has the right to apply for a hearing or submit a written statement and defence in the medium term before the termination of the listing.

On May 13, China said in the middle of the year that the company had submitted an application for a hearing to the Shenzhen Stock Exchange within the time limit for the hearing. If the company participates in the hearing but the Shenzhen Stock Exchange finally decides to terminate the listing, the listing of the company's shares will be terminated. Investors are asked to pay attention to investment risks.

(article Source: 21st Century Economics report)