Cover reporter Xiong Yingying
On February 14, Amethyst Storage (688086), a company on the Science and Technology Innovation Board, quickly fell by the limit after the opening. As of the close of the day, it reported 15.44 yuan per share, hitting a new low since its listing, with a total market value of 2.939 billion yuan.
The plunge in share prices stemmed largely from an announcement. Last Friday, Amethyst Storage announced that the company received a notice of filing from the China Securities Regulatory Commission on February 11, and the China Securities Regulatory Commission decided to file a case for investigation due to the company’s alleged violation of laws and regulations in information disclosure. It is reported that this is also the first company to be investigated by the China Securities Regulatory Commission since the opening of the STAR Market.
Although Amethyst Storage did not explain the specific matters involved in the violation of the letter disclosure in the announcement, the market generally believes that this high probability is related to the company’s 2020 annual report.
The reporter noticed that on April 29, 2021, the 2020 annual report disclosed by the company showed that the company achieved revenue of 563 million yuan, a year-on-year increase of 8.97%; net profit was 104 million yuan, a year-on-year decrease of 24.71%. This annual report was issued with reservations by Lixin Certified Public Accountants, which is also the first “non-standard” annual report on the Science and Technology Innovation Board.
In the qualified opinion of the annual audit accountant, the company did not provide sufficient materials and information, and it was unable to obtain sufficient and appropriate audit evidence on the commercial substance of prepayments, the recoverability of accounts receivable and the adequacy of bad debt provision, and could not determine whether Adjustments to the relevant financial statement amounts and disclosures are necessary.
That night, the Shanghai Stock Exchange issued a letter of inquiry to the company to conduct key inquiries on the matters involved in the reserved opinion. Since then, two inquiry letters have been issued, involving large prepayments, business model changes, accounts receivable, upstream and downstream changes, and monetary funds that occurred after the company went public.
Amethyst Storage, founded in 2010, is a leading high-tech optical storage company in China. It landed on the Science and Technology Innovation Board on February 26, 2020, and soared by 264% on the first day. Compared with the closing price of 86.98 yuan on the first day of listing, the current share price has fallen by more than 80%. As of the end of the third quarter of last year, the number of shareholders of Amethyst Storage was 17,600.
Lawyer Li Jian of Zhejiang Yufeng Law Firm, who has been representing investors in claims for a long time, told reporters that according to the new judicial interpretation of the Supreme People’s Court’s false statement, the pre-procedure for investor claims has been clearly cancelled, and Amethyst Storage is suspected of information disclosure violations by the China Securities Regulatory Commission. , which means that the first investor claim case on the Sci-Tech Innovation Board is “on the line”.
“Today, a number of investors called to inquire about claims, and the losses ranged from tens of thousands to hundreds of thousands of yuan, and one of them lost nearly one million yuan.” Lawyer Li Jian said that according to the judicial interpretation, it is tentatively scheduled for February 2021. Damaged investors who still hold shares of Amethyst Storage at the close on the 11th can claim. According to the investigation by the China Securities Regulatory Commission and the progress of the court proceedings, the final claim conditions and compensation standards are subject to the court’s determination.Return to Sohu, see more
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