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.

LATEST
China’s Tighter Tech Laws Could Stymie U.S. Demands for Data Handover, Legal Expert Says
China Chip Exec Says Crunch Could End by Mid-2022
Air Taxi Developer’s Listing Shows Tencent Can’t Shake Its Flying Car Dreams
Apple Hopes Cheaper IPhones Will Woo Chinese Customers
Two Chinese Tech Stocks Sizzle on Latest Hot Concept in Virtual Reality
China Tech Stocks Stumble in Rush Back Toward Bull Market
WeRide Joins With Carmaker, Courier to Commercialize Self-Driving Delivery Vans
JD.com-Backed Dada’s Autonomous Delivery Investment Undercuts Revenue Jump
Non-Innovative Medtech Companies Are Winning Too Much Venture Capital, Official Says
Chipmaker SMIC Inks Deal With Shanghai for $8.8 Billion Factory
Tech Insider: EV Sales a Mixed Bag, MediaTek Stays on Top, Xiaomi’s New Direction
BGI’s Gene Sequencer Spin-Off Approved for Shanghai IPO
Smartphone Giant Xiaomi Officially Revs Up Smart Car Business
China’s GPS Alternative Gets Regulatory Roadmap in Push to Boost Adoption
Meituan Faces Fresh Regulatory Trouble Over Mobike Acquisition
China Hammers Mobile Gaming Industry With Tough New Limits
ByteDance Acquires China’s Largest Virtual Reality Headset Maker
Microchip Design Specialist Arm China Takes a Turn Into Autonomous Driving
Tech Insider: Self-Flying Hopeful EHang Runs Into Turbulence, Chipmaker Arm China Joins Auto Drive, iQiyi Gives Up on Its Idols
Self-Flying Vehicle Specialist EHang Hits Earnings Turbulence
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