The soaring meme stock is in trouble again! Performance loss of 480 million, two directors claim unable to confirm quarterly report authenticity!

Online Lending Sky Eye reports that recently, the A-shares ChiNext stock Yu Jin Diamond (300064, Stock Forum) has been at the center of attention, with frequent developments.

On the evening of October 28, Yu Jin Diamond disclosed its third-quarter report. The financial report shows that in the first three quarters of 2020, Yu Jin Diamond achieved operating revenue of 306 million yuan, a year-on-year decrease of 58.05%; net loss attributable to shareholders of 481 million yuan; net loss after deducting non-recurring gains and losses of 239 million yuan. As of September 30, the net assets attributable to shareholders were 1.24 billion yuan, a decrease of 27.96% compared to the end of the previous year.

In its previous annual reports, Yu Jin Diamond reported large losses in 2019 and the first half of 2020. In 2019, net loss attributable to shareholders was 5.197 billion yuan; in the first half of 2020, net loss was 357 million yuan.

It is worth noting that, according to board meeting documents, on the eve of disclosing the third-quarter report, on October 27, the company convened a board meeting with nine directors, among whom Directors Wang Daping and Liu Miao voted against the third-quarter report. Regarding the reasons for opposition, both parties stated that they could not express an opinion on the issue of non-recurring capital occupation.

In their explanations, these two directors stated that the company’s claim that there was no controlling shareholder or related-party occupation of non-operating funds during the reporting period was ambiguous. They failed to clarify this in their reply to the Shenzhen Stock Exchange on October 27.

This indicates that there was internal conflict within the company’s board members, with disagreements. However, regarding the capital occupation issues raised by the two directors, Yu Jin Diamond’s three independent directors did not issue any statements, suggesting some confusion among the company’s senior management.

In fact, despite being a company that lost 480 million yuan and experiencing internal board conflicts, Yu Jin Diamond has been enthusiastically pursued in the secondary market and has attracted speculative capital.

Over the past two months, Yu Jin Diamond’s stock price has increased by a total of 171.55%. On September 8, the Shenzhen Stock Exchange requested a trading halt for Yu Jin Diamond. However, shortly after resuming trading, the stock price was again heavily manipulated. On the evening of October 27, Yu Jin Diamond received a notice of concern from the Shenzhen Stock Exchange. Due to multiple unresolved issues raised in previous correspondence, the exchange issued a “final warning.” If Yu Jin Diamond does not respond by November 27, the stock will be subject to other risk warnings and related trading suspension or resumption measures.

(Edited by: Ji Liya HN003)