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Administrative Fine Imposed on the Responsible Person of Superior Plating Technology Co., Ltd. (Listed Company 8431)

1.Date the fine was imposed: February 19, 2020
2.Recipient of the fine: Superior Plating Technology Co., Ltd.
3.Legal basis of the fine: Article 36-1, Article 3 of the Regulations Governing Loaning of Funds Making of Endorsements/Guarantees by Public Companies
4.Facts of the violation and reasons: It was found that Superior Plating Technology Co. transferred the account receivables from its subsidiaries, Superior Plating Technology (Thailand) Co., Ltd., Dingqun Technology (Shenzhen) Co., Ltd. and Superior Industries (Shenzhen) Co., Ltd. to loan entries. However, the loans have not been fully recovered. The loans were considered short-term in nature but the repayments have been overdue for more than 1 year, and, therefore, the company is in violation of Article 3 of the Regulations Governing Loaning of Funds for Making Endorsements/Guarantees by Public Companies.
5.Resulting fine: Sentenced to the fine, NT$240,000, in accordance with Article 36-1, Paragraph 1(11) of Article 178 and Paragraph 1 of Article 179 of the Securities and Exchange Act.
Visitor: 637   Update: 2020-02-25