On the ground of the letter Phi violation cumulative penalty of more than one million

KingSun March 17th evening announcement, because the company and the group on the ground is the largest shareholder of the presence of non operating capital transactions and fails to perform the obligation of information disclosure, 17, the company received the Commission of Guangdong authority "administrative punishment decision", according to the company letter Phi violations, and ordered the company to correct, given a warning and imposed a fine of 500 thousand yuan.

In addition, the decision also on the company's part of the staff of the appropriate punishment. Among them, Li Xuliang given a warning and imposed a fine of 300 thousand yuan; Mao Xiaobin given a warning and imposed a fine of 150 thousand yuan; Hu Xuan to give a warning, impose a fine of 100 thousand yuan; give a warning on Wen Qi, and impose a fine of 30 thousand yuan.

Announcements, 2013 2014, KingSun KingSun group accumulated to transfer funds 1 billion 828 million yuan; KingSun group accumulated 1 billion 29 million yuan of funds transferred to the company, KingSun group by subordinate enterprises accumulated 798 million yuan of funds transferred to the company. As of the end of 2014, the ground between the company and the group of non operating funds with zero balance. In addition, KingSun group has the non operating capital transactions to the company to pay 28 million 8 thousand and 300 yuan of interest.

The company said China accept the Commission administrative punishment Guangdong authority, does not apply for administrative reconsideration and administrative litigation, and from the optimization of corporate governance structure, the implementation of the internal control system, strengthen the implementation of internal audit work, enhance law-abiding awareness of compliance, begin remediation.

March 24th (Tuesday) afternoon 15:00-17:00 company will hold a public apology online platform.

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).