EBSCN(SH:601788) Zhong Guo Zheng Quan Bao·2025-07-07 15:11Core Viewpoint - Donghai Securities has received a preliminary administrative penalty notice from the China Securities Regulatory Commission (CSRC) due to its failure to fulfill its duties as an independent financial advisor during the major asset restructuring project of Jinzhu Cihang in 2015, which involved significant omissions and false records in the related documents [2][4]. Summary by Relevant Sections Administrative Penalty - The CSRC plans to order Donghai Securities to rectify its practices, confiscate business income of 15 million yuan, and impose a fine of 45 million yuan based on the violations of the Securities Law [2][4]. Background of the Case - In 2015, Jinzhu Cihang issued shares and paid cash to acquire 90% of Fenghui Leasing Co., Ltd. and raised matching funds, with Donghai Securities serving as the independent financial advisor from December 2015 to December 2017 [4]. - Starting in 2018, Fenghui Leasing experienced significant losses, leading to regulatory scrutiny and subsequent investigations that revealed major omissions in information disclosure and false records in annual reports [4]. Company Response and Remediation - Donghai Securities has acknowledged the contents of the preliminary penalty notice and expressed its commitment to reflect deeply and implement corrective measures [4][6]. - The company aims to enhance its understanding, actively comply with regulatory requirements, and improve internal control effectiveness to protect investor interests and promote sustainable development [4][6]. Strengthening Compliance and Internal Controls - Donghai Securities is responding to the new regulatory requirements by reinforcing its "gatekeeper" responsibilities and enhancing its institutional framework, internal controls, and talent development across six dimensions [6][7]. - The company has established a specialized committee for investment banking to manage related activities, ensuring a clear organizational structure and effective supervision [6]. - A comprehensive set of management systems and operational guidelines for investment banking has been developed, covering all aspects from decision-making to post-management [6][7]. - Continuous dynamic tracking and compliance management of investment banking activities are being implemented, including due diligence and project management [7]. - Regular policy training and compliance education are conducted to improve the professional capabilities and risk awareness of investment banking personnel [7]. - An evaluation method for the quality of investment banking projects has been introduced, incorporating performance assessments into departmental evaluations [7]. - The company is upgrading its investment banking management system to enhance risk identification capabilities and improve risk control effectiveness [7].