The 2.8 billion deposit pledge incident of Bohai Bank has not been ascertained, and Keyuan Wisdom and Shanghai Pudong Development Bank have started a war of words again. In mid-November, nearly 300 million yuan of deposits of a wholly-owned subsidiary of Keyuan Wisdom (002380.SZ) were "inexplicably" pledged, which caused an uproar in the capital market.
On November 24th, Shanghai Pudong Development Bank responded that, after verification by the bank, the "Letter of Confirmation of Bank Deposits at the End of 2020" received by Keyuan Wisdom Annual Auditing Accountant was not issued by the bank.
On the evening of the same day, Keyuan Wisdom said in a seven-page reply that each inquiry information in the inquiry letter was stamped with the seal of "Conformity" and the seal of "Jia Moumou" as the manager for confirmation, and the reviewer filled in "Wang Mou", dated "April 8, 2021" and stamped with the business seal of Nantong Branch of Shanghai Pudong Development Bank.
Shanghai Pudong Development Bank: The document is fake.
Keyuan Wisdom Sun Evidence Refutation
295 million deposits were strangely pledged, and Shanghai Pudong Development Bank responded to the incident again on November 24.
Shanghai Pudong Development Bank issued a statement in its official Weibo, saying that Nantong Branch of Shanghai Pudong Development Bank had filed a criminal report with the public security organ on November 15th and provided relevant business information. At the same time, Shanghai Pudong Development Bank set up a working group led by the head office leaders and composed of relevant departments of the head office and branches to conduct a comprehensive investigation of related businesses.
Shanghai Pudong Development Bank also said that after its verification, the "Reply Letter of Bank Deposit Inquiry at the End of 2020" received by Keyuan Wisdom Annual Audit Accountant was not issued by Shanghai Pudong Development Bank, and Shanghai Pudong Development Bank Nantong Branch has provided relevant evidence to the public security organs for further verification.
In this regard, Keyuan Wisdom responded that as of December 31, 2020, the funds deposited by Nanjing Keyuan Smart Energy Investment Co., Ltd. (hereinafter referred to as "Nanjing Keyuan") in the business department of Nantong Branch of Shanghai Pudong Development Bank adopted the bank confirmation letter format stipulated in the notice of the General Office of the Ministry of Finance and the General Office of China Banking and Insurance Regulatory Commission on printing and distributing the Operational Guidelines for Bank Confirmation and Reply. Judging from the main information of the inquiry, there is no freezing, guarantee or other restrictions on the use of smart investment deposits.
Keyuan Wisdom Certified Public Accountant said that Nantong Branch of Shanghai Pudong Development Bank stamped the "Conformity" stamp and the seal of "Jia Moumou" as the manager for confirmation. And in the conclusion of the above-mentioned confirmation letter, "the items verified by the Bank are consistent with the information recorded by the Bank. I hereby reply. " Fill in the column: "Items 1 to 14 are correct". The manager shall fill in "Jia Moumou" and affix the seal, the reviewer shall fill in "Wang Mou", the date shall be "April 8, 2021" and the business seal of the business department of Nantong Branch of Shanghai Pudong Development Bank shall be affixed.
In addition, Keyuan Wisdom also pointed out that the above-mentioned bank deposits were audited and five pieces of relevant evidence were obtained. Keyuan Wisdom Annual Audit Accountant stressed that it directly received the reply from Nantong Branch of Shanghai Pudong Development Bank, and the letter did not pass the transfer of Keyuan Wisdom and its related units and personnel. "After receiving the reply, we inquired about the relevant logistics delivery address. After checking, the delivery address is No.1 Taowu Road Clothing City, Chongchuan District, Nantong City, Jiangsu Province, which is the address of Nantong Branch of Shanghai Pudong Development Bank. We also paid attention to the status of logistics trips and found no abnormalities. " The accountant said.
Accordingly, Keyuan Wisdom believes that the disclosure of the pledge status of bank deposits in the company’s 2020 annual report is true and accurate. Now Shanghai Pudong Development Bank denies that there are still more inside stories to be exposed.
Bizarre pledge, all parties said they didn’t know.
On November 15th, Keyuan Smart announced that Nanjing Keyuan Smart Energy Investment Co., Ltd., a wholly-owned subsidiary of the company, purchased the time deposit of Nantong Branch of Shanghai Pudong Development Bank on November 10th, 2020 with its own temporarily idle funds of 40 million yuan, and the product maturity date was November 10th, 2021. Nantong Ruihao International Trade Co., Ltd., the pledge financier, failed to pay its debts on time, and the company has not received the funds for a long time.
According to the announcement, Nanjing Keyuan has 8 one-year deposits in Nantong Branch of Shanghai Pudong Development Bank, with a total amount of 345 million yuan. Among them, the amount that cannot be redeemed at maturity is 40 million yuan, and the amount that shows pledged status at maturity is 255 million yuan.
"The company has no knowledge of all the above pledges." The company stressed several times in the announcement.
Keyuan Wisdom said on the same day that the management of the company actively communicated with Shanghai Pudong Development Bank for the first time to collect the payment for the above products, and reported the case to the police and Jiangsu Supervision Bureau of China Banking and Insurance Regulatory Commission, China on November 15, 2021.
On the evening of the same day, Shanghai Pudong Development Bank also indicated that it had made a criminal report to the public security organ and provided relevant business information. In the follow-up, Shanghai Pudong Development Bank will actively cooperate with the investigation work of the public security organs and earnestly safeguard the legitimate rights and interests of all parties concerned.
Oddly, the financing party of this pledge guarantee — — The reply from the major shareholder of Nantong Ruihao Trading Company is also vague. The major shareholder of the company once told the media that he had no substantial relationship with Nantong Ruihao Trade and knew nothing about the financing.
According to the current information of all parties, several parties have their own words about the pledge of Shanghai Pudong Development Bank deposits, just like the 2.8 billion yuan deposit of Bohai Bank was inexplicably pledged, and it fell into the "Rashomon".
According to the financial information disclosed by Keyuan Wisdom, as of the end of the third quarter of 2021, Keyuan Wisdom had 476 million yuan in monetary funds, 1.835 billion yuan in current assets and 3.065 billion yuan in total assets. In terms of liabilities, the current liabilities are 819 million yuan and the total liabilities are 835 million yuan. The current asset-liability ratio is 27.25% and the current ratio is 2.24, which is better than that of peers.
China Banking and Insurance Regulatory Commission:
Accelerate the completion of internal control and compliance management shortcomings.
The reporter learned from China Banking and Insurance Regulatory Commission on the 25th that the General Office of China Banking and Insurance Regulatory Commission recently issued a notice urging banking institutions to build a "firewall" of internal control and compliance, earnestly safeguard the legitimate rights and interests of financial consumers, and lay a solid foundation for the high-quality development of the banking industry.
China Banking and Insurance Regulatory Commission explicitly requested to focus on risk loopholes and speed up the completion of internal control and compliance management shortcomings.
The notice pointed out that the current problems of "three investigations" of bank loans are not due diligence, unified credit management is not in place, and the implementation of sales suitability requirements is still outstanding. All banking institutions should combine the normalized strong internal control and compliance promotion with periodic shortcomings and chronic diseases elimination, focus on the problem-prone links and areas strongly reflected by the people, clarify the risk control points and control measures of important businesses, strengthen the rigid control of key nodes of the system, strengthen system implementation, supervision and evaluation, and strengthen reputation risk management. Focusing on recent risk events, it is necessary to thoroughly investigate internal control defects, intensify daily inspections and inspections, strengthen management constraints on branches and business units, urge and deal with those who repeatedly investigate and commit crimes and make slow progress in rectification, and rectify stubborn diseases such as fictitious trade background and lax credit review from the root, effectively improve the level of risk management and control, and demonstrate the effectiveness of internal control and compliance management.
According to the notice, the management effectiveness of key personnel in important positions of some banks is insufficient, and case risk events occur frequently. All banking institutions are required to further strengthen the effective checks and balances of posts, standardize the management of incompatible posts, strictly implement regulatory requirements such as important post rotation, compulsory leave and job avoidance, and incorporate relevant implementation into performance appraisal. It is necessary to strengthen the management of employees’ labor contracts and severely crack down on behaviors such as participating in private lending, illegally raising funds, acting as a fund broker, and running enterprises through business. It is necessary to improve the ability of monitoring and early warning of operational risks, grasp early and small, and prevent micro-duration. For key personnel in important positions, it is necessary to enrich monitoring methods and establish a stricter mechanism for investigating abnormal behaviors, and severely deal with those who do not follow the rules and violate the rules, so as to enhance the risk awareness and rules awareness of employees.
In particular, the circular pointed out that we should be soberly aware that the current economic and financial environment facing the banking industry is complex and severe, and some long-term accumulated contradictions and problems are exposed. Some banks have failed to implement the national macro policies, some banks have repeatedly investigated and committed problems in the field of credit management, and some banks’ regulatory arbitrage methods have been refurbished. In particular, the recent risk events, such as certificates of deposit pledged bills business and personal information security, have had a bad social impact, damaged the overall reputation of the banking industry, and exposed some problems such as weak awareness of risk compliance, insufficient assessment of potential business risks, lack of core management systems and control measures, and prominent moral hazard among internal employees. It is urgent to learn lessons and draw inferences from others, speed up the remedy of management defects and loopholes, and fundamentally reverse the situation that efficiency is valued over compliance and internal control requirements make way for business development.
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