Lawyer Li Yusheng, the chairman of Zhaojin Technology, which "raised hundreds of millions of dollars in revenue," posted an 8 million bail, explained legal issues related to securities trading laws and false financial reports.

Zhaojin Technology "Injects Revenue of 100 Million" and Chairman Posts 8 Million Bail｜China TV News Reporter Zheng Huiliang

News link:https://youtu.be/0kEe4zEfZBA

Zhaojin Technology, a major listed network technology company that once won the "National Quality Award", was revealed to have senior executives using the company to create fake transactions! The prosecutors are investigating Chairman Ji of Zhaojin Technology. From 2018 to 2020, he was suspected of inflating revenue by hundreds of millions of yuan in financial reports to beautify revenue. The prosecutors launched a search yesterday (26th) and interviewed the chairman and Among the 16 relevant personnel, the director surnamed Ji finally paid bail for NT$8 million, and the former director surnamed Yang of Zhaojin Technology's predecessor "Youwang Technology" paid bail for NT$2 million. Zhaojin also issued a major announcement stating that all operations will be carried out in accordance with Comply with relevant regulations.

The old god sitting on the chair is sitting in the Taipei Prefectural Inspection Bureau. He is Chairman Ji of Zhaojin Technology. He was arrested by the Taipei Prefectural Inspection Bureau on the evening of the 26th because he was suspected of using fake transactions to embellish revenue and falsely paid more than hundreds of millions of dollars. After being interviewed and interrogated by the department, a total of 8 million bail was paid. Not only the chairman surnamed Ji, but also the company manager, associate manager, and relevant supervisors were all interrogated. The investigation was conducted to investigate Zhaojin Company’s suspected involvement with the management team from 2018 to 2020. Or related companies, they conducted fake transactions with multiple domestic and overseas subsidiaries and related companies, failed to calculate according to the financial system regulations, inflated revenue by hundreds of millions of yuan, but concealed transaction information with related parties, violating the "Securities and Exchange Act" The company's financial reports were false and there were also accusations of "irregular transactions".

Chairman of Zhaojin Technology said: "We are committed to better technology application and production and manufacturing to bring people a better technological life. Thank you all." We only talked about the company's philosophy at the corporate briefing a few years ago, but in fact this This is not the first time that it has been in the news. According to our understanding, Zhaojin Technology was formerly known as Youwang Technology. The semiconductor business and memory business are its main businesses. It also won the "National Quality Award", but it was postponed a few months ago. The 4th quarter consolidated financial report was input to the Public Information Observatory, and the stock exchange fined it 30,000 yuan for violating regulations. Now it has been revealed that the company was trading falsely to gain profits from it.

Securities and Exchange Law and Legal Explanation on False Financial Reporting

Lawyer Li Yusheng said: "If the financial or property benefits obtained as a result of crime amount to more than NT$100 million, they will be sentenced to more than 7 years in prison, and a maximum fine of NT$500 million will be imposed." The company. After being searched, in addition to Chairman Ji who posted bail of 8 million yuan, the other four people also posted bail of 500,000 yuan to 2 million yuan. In this regard, Zhaojin also issued a serious message stating that all operations were handled in accordance with relevant regulations and fully cooperated with the investigation. The unit investigation will determine whether there were false financial statements or not, and we have to wait for inspection to clarify.

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