Jinjian Rice Industry: Received the Administrative Supervision Decision Letter from Hunan Securities Regulatory Bureau for Inflated Operating Income and Other Violations, Ordered to Correct

K-LinePoet · 2026-02-04T08:55:17+00:00

Jinjian Rice Industry Announcement: Due to its subsidiary's involvement in false trade, the Hunan Securities Regulatory Bureau has taken administrative regulatory measures against the company and related responsible persons. From 2020 to 2022, the company artificially inflated operating income and costs, leading to profit fluctuations. The specific amounts involved are 228 million yuan, 266 million yuan, and 92.956 million yuan, with significant impact.

K-LinePoet

2026-02-04 08:55:17

Abstract generation in progress

Jinjian Grain Industry Announcement: The company and relevant responsible persons received the Administrative Supervision Decision Letter from the Hunan Securities Regulatory Bureau. Upon investigation, from 2020 to 2022, the company’s former subsidiary Jinjian Agricultural Products (Yingkou) Co., Ltd. and Oriental Group Co., Ltd. and its related parties engaged in 14 trade transactions that were purely circular trades with no actual logistics and lacked commercial substance, and revenue should not be recognized. In 2020, four trade transactions between Jinjian Yingkou Company and Heilongjiang Nuohe Grain Group Co., Ltd. and Liaoning Pengda Agricultural Development Co., Ltd. were actually client bids for national storage grain or reserve grain, with all related risks borne by the clients, and revenue should not be recognized using the total amount method. These two issues resulted in the company artificially inflating operating revenue by 228 million yuan, 266 million yuan, and 92.95 million yuan in 2020, 2021, and 2022 respectively, accounting for 3.98%, 3.96%, and 1.45% of annual operating revenue; inflated operating costs by 228 million yuan, 265 million yuan, and 92.88 million yuan respectively, accounting for 3.99%, 3.95%, and 1.43% of annual operating costs; and inflated total profits by 104,300 yuan, 310,400 yuan, and 71,600 yuan respectively, accounting for 0.31%, -1.19%, and -0.16% of annual total profits.

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