Shenzhen Derun Electronics Co., Ltd. (Derun Electronics) announced on the evening of December 26 that the company and one of its actual controllers, Qiu Jianmin, have been investigated for suspected violations of information disclosure laws and regulations. At the close of trading on the 26th, Derun Electronics’ stock price was at 9.49 yuan per share, representing an increase of 9.97%.
The announcement stated that the company received a notice of filing from the China Securities Regulatory Commission (CSRC), and after an investigation, it was found that the accounts receivable recovery disclosed in the regular reports from the first half of 2020 to the first half of 2022 did not match reality, leading to inaccuracies in the financial data of the relevant annual reports. In accordance with regulatory requirements, the company corrected the relevant items in the financial statements for 2020 and 2021. Additionally, the impact of the accounting errors correction on the initial balances of future financial statements was retrospectively adjusted for the financial statements of 2022 and 2023. On August 31, 2024, the company disclosed the audited report for the corrected 2020 financial statements, marking the completion of internal rectification measures.
Qiu Jianmin, the founder of the company born in 1962, has served as the general manager and chairman of the company.
On February 24, 2023, Qiu Jianmin applied to resign from the position of chairman of the company due to reaching the statutory retirement age.
On the same day that Derun Electronics announced the investigation of the company’s founder, at the close of trading on the 26th, the company’s stock price was at 9.49 yuan per share, with an increase of 9.97%, making the total market value 5.737 billion yuan.
According to a report from “Daily Economic News” on December 27, recent stock price fluctuations of Derun Electronics have been significant. As of December 26, the stock price was at 9.49 yuan per share, with 3 consecutive daily limit up, accumulating a total increase of over 21% in 6 days. As of December 20, there were 83,558 shareholders of Derun Electronics.
Public data indicates that Shenzhen Derun Electronics Co., Ltd. was founded in 1989 and went public on the Shenzhen Stock Exchange in 2006. The company focuses on the research, development, manufacturing, and sales of electronic connectors and precision components, which are widely used in various fields such as household appliances, computers, peripherals, communications, smartphones, LED lighting, smart cars, and new energy vehicles. Derun Electronics’ controlling shareholder is Shenzhen Desheng Asset Management Co., Ltd., with Qiu Jianmin and Qiu Weimin as the actual controllers.
According to Derun Electronics’ third-quarter report, in the first three quarters of 2024, the company achieved a revenue of 3.875 billion yuan, a year-on-year decrease of 23.07%, with a net loss of 126 million yuan.