Sichuan Kelun Pharmaceutical Acquisition Junjian-plastic Case Analysis Of Information Disclosure Violations

The securities market of our country after decades of rapid development, has formeda relatively perfect system, but our country’s information disclosure law regulationconstruction, financial regulatory system, and many other aspects with the foreignadvanced capitalist market still exists a certain gap. The information disclosureshortcomings of existing in Chinese securities market, from a certain extent, the reactionthe governance structure of listed companies and information disclosure system in Chinahas certain vulnerability and the current regulatory system is not perfect. In this paper,starting from the present situation of our country securities market information disclosureviolations, kelun pharmaceutical industry listed companies for junjian-plastic informationdisclosure violations as an example. Elaborated kelun pharmaceutical purchase healthproblems existing in the process of junjian-plastic, and reveals the listed company fromtwo aspects of inside and outside kelun pharmaceutical cannot effectively and timelydisclosure of related party transactions and junjian-plastic relationship, and the reasonwhy there are misleading statements in the multiple information disclosure. Kelunpharmaceutical industry by using premium in junjian-plastic assets of four times to raisefunds to acquire all junjian-plastic, two years later by Sichuan administration and theChina securities regulatory commission investigation found the company in terms ofinformation disclosure in violation of the relevant laws and regulations, not timely, theinaccurate, incomplete disclosure, seriously disrupt the healthy development of securitiesmarket.This thesis aimed at columbine pharmaceutical industry after the acquisition of junjian-plastic information disclosure violations by Sichuan supervision bureau or Chinasecurities regulatory commission administration and punishment after the announcement,the China securities regulatory commission for the listed company information disclosureviolations punishment effect is analyzed, especially for the shares of listed companies inthe secondary market volatility and trading volume, the effect of further analysis ofinformation disclosure violation to the loss caused by the listed company and deterrence,and the listed company information disclosure announcement after the market reaction, and the incident on kelun pharmaceutical manage achievement and long-termdevelopment in the future. Paper kelun pharmaceutical information disclosure violationscaused by the significant influence, based on the secondary market changes in theprocess of case development event-driven investment strategy, in view of the caseanalysis results bring kelun pharmaceutical industry for the future development of biglesson and kelun pharmaceutical can get reference from the incident and puts forwardsuggestions for listed companies and regulatory authorities, respectively, to strengthenthe regulation daily information disclosure of listed companies, to nip in the bud, tostandardize the system of information disclosure of listed companies effectively, improvethe securities market information disclosure regulation mechanism.