Competitive Heaven Public Honest Law Firm fined 1 million yuan, false records found in Guomei Communication legal documents.

On August 8th, the China Securities Regulatory Commission disclosed an administrative penalty decision, ordering Beijing Jingtian Gongcheng Law Firm to make corrections, confiscating business income of 471,698.12 yuan, and imposing a fine of 1 million yuan; warning lawyer Zheng Tingting and Deng Yu, and imposing fines of 400,000 yuan respectively. It was found that Jingtian Gongcheng had made false records in the legal documents produced and issued for the non-public offering of shares by Guomei Communications in 2020. Jingtian Gongcheng did not diligently fulfill its duties in providing legal services, did not conduct thorough due diligence on trade transactions, did not carefully verify major business contracts and important information of clients and suppliers; work drafts were incomplete, and relevant documents such as trade contracts, invoices, review records were not properly archived.