Caissa Touristic's Grandchild Company Caissa Culture Suspected of Contract Fraud Involving 26.95 Million Yuan; Foshan Police Have Filed an Investigation

RegulationCorporate Action
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Caissa Touristic announced on the evening of September 15 that its wholly-owned grandchild company Caissa Culture was suspected of contract fraud during business execution and has reported the case to public security authorities. The case has now been filed for investigation by Foshan police, involving an amount of 26.95 million yuan. The announcement shows that Caissa Culture recently signed a performance service contract with the counterparty and paid 26.95 million yuan in contract payments as agreed. It subsequently found that it could not establish effective contact with the other party and suspected the other party of contract fraud. The company has received a Case Filing Notice issued by the Nanhai Branch of the Foshan Municipal Public Security Bureau. The contract fraud case involving Caissa Culture meets the conditions for filing and is now under investigation. Caissa Touristic stated that the case is still in the filing and investigation stage, and its progress and final outcome are uncertain. It may have an adverse impact on the company's current or future profits, and the specific impact still needs to be determined based on the investigation results. However, the company's production and operations are normal, and this matter will not have a material adverse impact on its ability to continue as a going concern. The company has launched an internal special review and will determine internal responsibility, while also cooperating with the public security authorities' investigation and making every effort to recover losses. Caissa Touristic is a comprehensive cultural and tourism enterprise with tourism, food, and marine cultural tourism as its main businesses. Its controlling shareholder is Qingdao Huanhai Bay Cultural Tourism, and Caissa Culture is a wholly-owned subsidiary of Caissa Bay. In the first half of this year, the company achieved revenue of 435 million yuan, a year-on-year increase of 37.08%, and a net loss attributable to the parent company of 11.0058 million yuan.

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Others · 1 stocks
Hna-Caissa Travel Group Co Ltd
000796
▼ NegativeRegulationrelevance

Its grandchild company Caissa Culture is suspected of contract fraud involving 26.95 million yuan and Foshan police have filed an investigation, which may adversely affect profits.

Off-coverage companies 2

凯撒同盛文化产业发展(北京)有限公司Private▼ Negative
Regulationrelevance

Caissa Culture is the entity suspected of contract fraud and under police investigation after paying 26.95 million yuan to an unreachable counterparty.

青岛环海湾文旅Private± Mixed
relevance