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 News 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 Yu Jin Diamond achieved operating revenue of 306 million yuan in the first three quarters of 2020, a year-on-year decrease of 58.05%; net loss attributable to shareholders of 481 million yuan; and a net loss after 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 the third-quarter report disclosure, October 27, the company convened a board meeting with nine directors. Among them, Directors Wang Daping and Liu Miao voted against the third-quarter report. Regarding the reasons for opposition, both parties stated that they could not agree on the issue of non-recurring capital occupation.

During the explanation, 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. The company’s senior management appears to be somewhat chaotic.

In fact, despite being a company that lost 480 million yuan and experiencing internal board conflicts, Yu Jin Diamond has received enthusiastic attention in the secondary market and has been subject to speculative trading.

Over the past two months, Yu Jin Diamond’s stock price has increased by a total of 171.55%. On September 8, Yu Jin Diamond was required to suspend trading by the Shenzhen Stock Exchange. 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 unanswered inquiries from the exchange, the exchange issued a “final warning” to Yu Jin Diamond. If the company does not respond by November 27, it will face other risk warnings and related suspension or resumption of trading.

(Chief Editor: Ji Liya HN003)

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