The company and all members of the board of directors guarantee that the content of the information disclosure is true, accurate and complete, and there are no false records, misleading statements or major omissions.
Recently, Guangdong Dehao Runda Electric Co., Ltd. (hereinafter referred to as “the Companyâ€) received the “Decision on Correcting Measures for Guangdong Dehao Runda Electric Co., Ltd.†issued by Guangdong Securities Regulatory Bureau (Guangdong Securities Regulatory Bureau) The Administrative Regulatory Measures Decision [2015] No. 17, hereinafter referred to as the "Decision Book"), the main contents of the "Decision Book" are hereby announced as follows:
1. The capital exchange between your company and the major shareholder Wuhu Dehao Investment Co., Ltd. (hereinafter referred to as Wuhu Dehao) has not been disclosed according to law.
After investigation, your company's 2013 annual report did not disclose the amount of non-operating related credits and debts between your company and Wuhu Dehao. The above acts violate the relevant provisions of Article 31 of the Contents and Formats of Corporate Information Disclosure and Format Guidelines No. 2 - Annual Report of the Public Offering of Securities (2012 Revision). Your company's 2012 annual report and 2014 annual report did not disclose the specific situation of non-operating related creditor's rights and debts between your company and Wuhu Dehao, including the reasons for formation, the beginning balance of creditor's rights and debts, the current period, and the ending balance. Its impact on the company and so on. The above acts violate Article 31 of the Contents and Formats of Corporate Information Disclosure and Format Guidelines for Public Offering of Securities - Revision of the Annual Report (2012 Revision), and the Content Disclosure Contents and Format Guidelines for Companies Offering Public Offerings of Securities Article 31 - Contents and Formats of the Annual Report (Revised in 2014) Article 31 and other relevant provisions.
2. Informed party disclosure is incomplete
After investigation, Wuhu Haoshi Industrial Co., Ltd. was established in 2009, and your company's major shareholder Wuhu Dehao has been holding 51% of its shares. The above-mentioned related parties have not been disclosed in your company's 2009-2014 periodic report. The above acts violate Article 37 of the “Regulations on the Information Disclosure and Compilation of Companies That Offer Securities to the Public No. 15 – General Provisions on Financial Reporting (2010 Revision)â€, “Corporate Information Disclosure and Filing Rules No. 15 of the Public Offering of Securities†- Article 51 of the General Provisions on Financial Reporting (Revised in 2014) and Article 2 of the Measures for the Administration of Information Disclosure of Listed Companies.
According to Article 21 of the Measures for On-site Inspection of Listed Companies and Article 59 of the Measures for the Administration of Information Disclosure of Listed Companies, the Office is now ordering your company to make corrections and perform related party transaction review procedures and information disclosure in accordance with relevant regulations. Obligation to ensure that information disclosure is true, accurate and complete.
The board of directors of the company attaches great importance to the issues raised in the "Decision Book" and will organize relevant departments and personnel to actively carry out rectification and reform, and in accordance with the "On-site Inspection Measures for Listed Companies", within 30 days from the date of receipt of the decision to order correction, to the China Securities Regulatory Commission. A rectification report will be submitted.
Special announcement.
Guangdong Dehao Runda Electric Co., Ltd. Board of Directors
August 13, 2015
Application-Specific Integrated Circuit refers to an integrated circuit specifically designed to perform a specific computing task. It is very common to use ASIC for mining in the field of blockchain. This article will analyze the principle of ASIC mining and why it should be anti-ASIC.
For Bitcoin, mining has gone through four stages: CPU, GPU, FPGA and ASIC. GPU is naturally suitable for parallel simple operations, so the execution of SHA256 is much higher than the CPU. FPGA is a programmable hardware, because it has a certain degree of universality, so the unit price will be relatively expensive. ASIC has a large initial design investment, but the unit price will be cheaper after mass production. Therefore, if you can determine that the market size is relatively large, the use of ASIC technology will be the most cost-effective.
This is the basic principle of ASIC.
In a nutshell, mining is running complicated calculations in the search for a specific number. Whether it`s an ASIC miner or a GPU mining rig, mining hardware must run through many calculations before finding that number. In proof of work systems like Bitcoin, the first one to find that number gets a reward - at the time of writing, 12.5 Bitcoins worth around $96,850. That reward will fall to 6.25 Bitcoins in May 2020.
There are so many people and powerful computing systems trying to mine Bitcoin that miner groups form to find that number and share the profit. Even more, the faster your hardware, the more you earn. That`s why people who can afford it opt for ASIC miners because it gives them the greatest chance of earning cryptocurrency in exchange for their investment.
Each cryptocurrency has its own cryptographic hash algorithm, and ASIC miners are designed to mine using that specific algorithm. Bitcoin ASIC miners are actually designed to calculate the SHA-256 hash algorithm. In the case of Litecoin, it uses Scrypt. That means technically they could mine any other coin that`s based on the same algorithm, though typically, people who buy ASIC hardware designed for Bitcoin mine that specific digital currency.
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