Wire flash
Beijing Jingcheng's Subsidiary Beiyang Tianqing Probed by CSRC for Alleged False Info in Restructuring
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Beijing Jingcheng Machinery Electric Co., Ltd. (600860.SH) announced on September 18 that its controlled subsidiary, Qingdao Beiyang Tianqing Digital Intelligence Co., Ltd., has been placed under investigation by the China Securities Regulatory Commission (CSRC). The CSRC issued a 'Notice of Case Filing' to Beiyang Tianqing, which was the target asset in a restructuring transaction. The subsidiary is suspected of providing information containing false records, misleading statements, or material omissions during the restructuring process. The company stated that both it and its subsidiaries are currently operating normally and that it will urge Beiyang Tianqing to cooperate with the investigation and fulfill its information disclosure obligations.
Source report
Beijing, September 18 — Beijing Jingcheng Machinery Electric Co., Ltd. (600860.SH) has announced that its controlled subsidiary, Qingdao Beiyang Tianqing Digital Intelligence Co., Ltd., has received a "Notice of Case Filing" from the China Securities Regulatory Commission (CSRC).
According to a report by Cailian Press, Beiyang Tianqing—the target asset in a restructuring transaction—is suspected of providing information containing false records, misleading statements, or material omissions during the restructuring process. As a result, the CSRC has decided to place the subsidiary under investigation.
The company stated that both itself and its subsidiaries are currently operating normally. Beijing Jingcheng Machinery Electric will urge Beiyang Tianqing to cooperate fully with the investigation and fulfill its information disclosure obligations.
Source
财联社Eastern