零容忍！监管部门连番出手

Core Viewpoint - Regulatory authorities are intensifying scrutiny and enforcement against companies like *ST Lingda and Xinhua Jin for issues related to fund occupation and illegal guarantees, highlighting a zero-tolerance approach to compliance violations [2][3][11]. Group 1: Regulatory Actions - On August 26, *ST Lingda received an administrative penalty notice from Dalian Securities Regulatory Bureau for failing to disclose external guarantee matters and fund occupation situations [2][6]. - Xinhua Jin announced on the same day that it received a corrective measure decision from Qingdao Securities Regulatory Bureau, revealing a non-operational fund occupation balance of 406 million yuan [2][8]. - If Xinhua Jin fails to rectify the situation within the mandated six-month period, it may face delisting procedures as per new regulations effective from April 2024 [2][8]. Group 2: Financial Implications - *ST Lingda was found to have occupied funds totaling 65.6 million yuan and provided illegal guarantees amounting to 126 million yuan, which severely harmed the rights of minority shareholders [6][10]. - Xinhua Jin's corrective plan includes transferring equity in a subsidiary to cover the fund occupation, with a transaction value of 666.5 million yuan [8]. Group 3: Compliance and Governance - The issues at *ST Lingda reflect a broader lack of compliance awareness among certain listed companies, emphasizing the need for improved governance among key stakeholders [7][10]. - Regulatory bodies are reinforcing accountability measures, including civil and criminal liabilities for the "key minority" responsible for compliance failures [11][12]. Group 4: Market Impact - The ongoing crackdown on fund occupation and illegal guarantees is aimed at restoring investor confidence and maintaining the integrity of the capital market [10][11]. - The regulatory framework is evolving to include stricter penalties and clearer guidelines for companies involved in financial misconduct, with a focus on deterring future violations [12].