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-share Growth Enterprise Market’s speculative stock Yujin Diamond (300064, Stock Forum) has been at the center of attention, with frequent incidents.

On the evening of October 28, Yujin Diamond disclosed its third-quarter report. The financial report shows that Yujin 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 was 481 million yuan; net loss after non-recurring gains and losses was 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 the previous annual reports, Yujin Diamond experienced large losses in 2019 and the first half of 2020. In 2019, net loss attributable to shareholders was 5.197 billion yuan, and in the first half of 2020, net loss was 357 million yuan.

It is worth noting that, according to the board meeting documents, on the eve of disclosing the third-quarter report, 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 funds occupation.

In their explanations, the 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 internal discord within the company’s board members, with disagreements. However, regarding the funds occupation issues raised by the two directors, Yujin Diamond’s three independent directors did not make 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, it has received enthusiastic attention in the secondary market and has been subject to speculative trading.

Over the past two months, Yujin Diamond’s stock price has increased by a total of 171.55%. On September 8, Yujin 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, Yujin Diamond received a notice from the Shenzhen Stock Exchange, due to multiple unresolved issues raised in its correspondence with the exchange, the exchange issued a “final warning.” If Yujin Diamond does not respond by November 27, the stock will be subject to other risk warnings and related suspension or resumption of trading.

(Edited by: Ji Liya HN003)