Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Uber-Like Truck-Rental Startup Mulls IPO After Breaking Even
In Depth: Is China’s Animation Industry Ready to Take Off?
LATEST
In Depth: Is China’s Animation Industry Ready to Take Off?
Uber-Like Truck-Rental Startup Mulls IPO After Breaking Even
China Evergrande Plans to Build Electric Cars, Batteries in Qingdao
Terry Gou-Backed LCD Panel Plant Seeks Cash Injection
Self-Driving Taxi Industry to Hit Key Inflection Point Next Year, Insider Says
Video App Kuaishou Mulls U.S. IPO, Raises Funds at $25 Billion Valuation
London Stock Exchange Bid in the Works For Long Time: HKEx Chairwoman
Chinese Investors React Coolly to Signs of Easing Trade Tensions
Kweichow Moutai Toasts Long-Term Partnership With Chinese Genomics Giant
After Opening Gates to Outside Food, Disney Clarifies What Is and Isn’t Allowed
Chinese Scientists Edit DNA in Attempt to Cure Man’s Cancer, HIV
China's Electric-Car Sales Drop for Second Straight Month
Fosun Biotech Unit Henlius Aims to Raise $477 Million in Hong Kong IPO
Huawei Drops Case Against U.S. Over Detained Telecom Gear
Chinese Netizens Cheer as Apple Compares Itself With Huawei for the First Time
World-Leading Crypto Platform Tightens Grip on HK-Listed Entity
The Factory Breeding Bloodsucking Mosquitos to Fight Disease
The Tough Transition Facing China’s Money-Market Funds
Tencent-Backed Secondhand Goods Trading Platform Secures $300 Million in Series B
Huawei Says U.S. Needs to Talk to Company for China Trade Deal
High-Tech Board Names and Shames Brokerage for Doctored Numbers

By Zhang Yu and Zhao Runhua / May 22, 2019 04:07 PM / Finance

Photo: VCG

Photo: VCG

Two people from a leading Chinese brokerage violated stock exchange rules and made unauthorized changes to a tech company’s high-tech board application documents, the Shanghai Stock Exchange announced Tuesday.

Wan Jiuqing and Mo Peng, employees of China International Capital Corp. (CICC), had changed crucial numbers relating to the operations, tech capabilities and management of Traffic Control Technology, which hopes to list on the new board with the sponsorship of CICC.

The numbers had already been submitted to the Shanghai Stock Exchange, which is operating the new board, when the bourse asked Traffic Control Technology in April to address concerns about the company’s qualifications. Wan and Mo then changed the numbers, which were part of documents including a prospectus, and resubmitted the information to the stock exchange in order to make Traffic Control Technology appear more qualified.

It’s unclear if Wan and Mo, who had been tasked by their brokerage with handling the application, thought the stock exchange would not notice the changes.

The stock exchange said it was publishing Wan’s and Mo’s names as punishment, and that it had sent a written warning to CICC.

CICC told Caixin that Wan and Mo would continue to participate in Traffic Control Technology’s IPO process.

Related: High-Tech Board Demands Straight Answers From Problematic Applicants

Share this article
Open WeChat and scan the QR code