Zhongfu stated that it was unable to obtain the financial report of the reinvested company and might face a suspension of the transaction.

(Photo by reporter Huang Haochen)

[Reporter Huang Haochen/Taipei Report] Zhongfu International (1435) stated today that Fuxing Company, which Zhongfu held 49% of its shares and reinvested in, did not provide the complete financial report of last year, so Zhongfu could not use this report to prepare Fuxing's financial statements. Only 2 pages of useless printed statements were received, which did not meet the requirements of Article 66 of the Commercial Accounting Law, and there was no way to verify them. Therefore, Zhongfu appointed an accounting firm to consider Zhongfu’s financial report for the past year. The audit report of the opinion, Zhongfu may be dealt with by suspending trading due to this, and will report to investors.

Zhongfu held a board meeting yesterday to approve the financial report for the past (2022), which recognized an investment loss of 250 million yuan, resulting in a net loss of 300 million yuan after tax for the year, and a loss per share (EPS) of 2.15 yuan.

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Zhongfu stated that Fuxing Investment Company was originally a 100% transfer investment company of Zhongfu. In 2021, Huang Lizhong, the former chairman of Zhongfu, transferred 51% of the shares to himself. At the same time, Zhongfu will actively pursue and confirm Fuxing's legal financial reports to ensure the safety of the company's assets, and call on Fuxing to submit legal financial reports as soon as possible, so that Zhongfu's stock trading can return to normal according to law.

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