In 2012, advanced led industry emerged the rare market surging, but the more rare performance of the A-share market in 2012 Face Wang in LED Panel Light stocks get together. Following the 2012 SFC punished of LED stocks Jiawei shares communications, the Commission opened the first punishment in 2013. Throwing Nanda photoelectric Sponsor Pacific Securities and sponsor representatives to take punitive measures.

Global economic downturn caused a decline in performance

Following after Jiawei shares, Blum Oriental, Jan. 3, the SFC informed punishing the “Changing Faces the King Keheng shares, Nanda photoelectric performance. This is also the first penalty in 2013 opened the year by the Commission.

The shares Keheng and South photoelectric performance of the company fell to explain the reason, but most people considered that it was impacted by the global economic slide.

Keheng shares explained in the three quarterly, “due to the continued downturn in the global economic situation, the downstream customers reduce a corresponding reduction in the sales volume of the company’s products, it resulted in 52.49% of the company’s revenue compared with the same period last year to reduce. ”

Nanda photoelectric explained in three quarterly, advanced led industry development is not as expected due to the impact of the European debt crisis and domestic economic growth rate down.

The penalized are due information disclosure

The SFC are more and more strict for IPO administration. From September 26 last year fined Bros, and Jiawei shares in October, now Keheng shares and Nanda photoelectric, just three months, they punished four performance the Changing Faces companies, four sponsor and eight insurance Agency.

The previously mentioned four penalties listed companies, in addition to similar fined Date, the fined reason is also the same, all are disclosed before the sudden drop in the published results because there is no good information “concealed” suspected.

The Commission thought that, the shares Keheng and Nanda photoelectric reports that in the case of the results in a larger decline, but after the major issues letter of commitment, it were not truthfully explained, nor in the IPO process in a timely manner for the appropriate supplemental disclosure.

Although it punished eight insurance on more than three months, but market participants still have to review “the punishment is still not enough. So microblogging users comment: IPO shares has been suspended three months, and it will not be accepted within three months of its documents issued by, it seems to mean that there is no punishment.