Yaben Chemical was fined 400,000 yuan for information disclosure violation

Global Coatings Network News:

Global Coatings Network News:

On September 9, Yaben Chemical received the "Administrative Penalty Decision" issued by the China Securities Regulatory Commission.

On September 9, Yaben Chemical received the "Administrative Penalty Decision" issued by the China Securities Regulatory Commission.

According to the announcement, in early February 2020, Yaben Chemicals responded to investors’ questions on “whether the company produces pharmaceutical intermediates for antiviral drugs related to the new crown pneumonia epidemic” on the Shenzhen Stock Exchange’s investor relations interactive platform, stating that the subsidiary Park Yi Chemical is a major supplier of key intermediates for the antiviral drug atazanavir and darunavir.

In the subsequent "Responses to Letters of Concern" and "Announcement on Stock Price Changes", Yaben Chemical has repeatedly disclosed that as the main supplier of key intermediates for darunavir, Park Yi Chemical has a market share of 15% to 20%.

In fact, Yaben Chemical failed to objectively, accurately and completely reflect the actual situation of the darunavir pharmaceutical intermediate business in the above-mentioned information disclosure, and exaggerated the company's revenue, output, sales volume and market position of the business.

In addition, Yaben Chemical, Park Yi Chemical and Yihui Biological did not directly sign business contracts and supply supplies with Indian customers Emucure, Mylan, Cipla, Sun, Laures and domestic customers Desano, only according to Park Yi Chemical’s agreement with Baju Pharmaceutical In the signed "Technical Service and Customer Protection Agreement", Park Yi Chemical is solely responsible for the negotiation, quotation and transaction with the above-mentioned customers.