Diligently received administrative punishment, Li Xuliang was banned from the securities market for life.

On August 3, Qinshang Co., Ltd. issued an announcement on receipt of the “Administrative Punishment Decision” issued by the China Securities Regulatory Commission and the relevant personnel receiving the “Market Prohibition Decision”.

"Administrative Punishment Decision" and "Market Banned Decision" show that on September 30, 2016, Qinshang and Chengdu Gunda Investment Development Co., Ltd. signed the "Intention and Investment Letter of Intent" for the acquisition of Chengdu Qizhong Experimental School, Hu Xuan Signed in the "16-year letter of intent" and stamped the official seal of the company.

The transaction is a major matter stipulated in Article 67 of the Securities Law. Qinqin shares shall perform their information disclosure obligations in a timely manner and report and announce immediately. However, Qinshang shares were not disclosed in time, and on February 17, 2017, the “Acquisition and Investment Letter of Intent”, which was basically consistent with the main contents of the “16-year Letter of Intent”, was signed. The letter of intent was signed by Chen Yonghong and stamped with the official seal of Qinshang.

On March 11, 2017, Qinshang Co., Ltd. disclosed that the company intends to acquire Chengdu Gundam and indirectly acquired Chengdu Qizhong. On April 22, it disclosed that it signed a 17-year letter of intent with Chengdu Gundam on February 17.

According to the facts, nature, circumstances and social harm of the party's illegal acts, the CSRC decided to correct the diligence of the shares, give a warning, and impose a fine of 600,000 yuan; give a warning to Hu Xuanhe and impose a fine of 300,000 yuan. Chen Yonghong was given a warning and imposed a fine of 100,000 yuan; Li Xuliang was given a warning and a fine of 600,000 yuan; Li Xuliang took a life-long securities market ban; and Hu Xuan followed five years of securities market ban.

On the same day, Qinshang issued the "Announcement on Holding a Public Apology Meeting", saying that a public apology will be held on the panoramic network from 15:00-17:00 on August 7, 2018 (Tuesday).

It is understood that this is the third time that the company has been punished by the Securities and Futures Commission for the letter.

On May 3, 2013, Qinshang Optoelectronics (the name used by Qinshang Co., Ltd.) received the “Notice of Investigation” from the CSRC; on May 12, 2014, Qinshang Optoelectronics announced that it was unable to comply with the relevant laws and related transactions. Disclosure, received the "Administrative Punishment Decision" from the Guangdong Securities Regulatory Bureau of the China Securities Regulatory Commission.

On December 1, 2014, Qinshang Optoelectronics received the “Notice of Investigation” from the CSRC. On March 17, 2015, Qinshang Optoelectronics once again received the “Administrative Punishment Decision” from the Guangdong Securities Regulatory Bureau. The main reason was that in 2013 and 2014, the listed company and the largest shareholder Qinshang Group had non-operating capital transactions, and the accumulated amount It was 1.827 billion yuan and did not fulfill its information disclosure obligations.

In the above two penalties, Li Xuliang was fined 200,000 yuan and 300,000 yuan respectively. In addition to the 600,000 yuan that was now fined, Li Xuliang has already paid a total of 1.1 million yuan in fines.

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