Fujian Zhonghe Co., Ltd. (hereinafter referred to as "the Company") received the "Decision on the Issuance of a Warning Letter to Fujian Zhonghe Co., Ltd." ([2019] No. 22) from the China Securities Regulatory Commission Fujian Regulatory Bureau (hereinafter referred to as "Fujian Securities Regulatory Bureau") on May 30, 2019. The content of the decision is announced as follows: Recently, during routine supervision, our bureau discovered that your company failed to timely fulfill its information disclosure obligations. From 2016 to 2017, your company had 10 significant lawsuits or arbitrations that met disclosure standards but were not disclosed in a timely manner, with a total amount of 451.0207 million yuan. According to the time period, 4 cases occurred from April 11, 2016, to March 9, 2017, with a total amount of 111.8745 million yuan, accounting for 15.92% of the audited net assets for 2015; 6 cases occurred from May 2, 2017, to November 29, 2017, with a total amount of 339.1462 million yuan, accounting for 51.7% of the audited net assets for 2016. The above actions v
002070SZSE
Announcement on the Company's Receipt of Administrative Supervision Measures Decision from Fujian Securities Regulatory Bureau
✨ AI Summary
Fujian Zhonghe Co., Ltd. received a warning letter from the Fujian Securities Regulatory Bureau for failing to disclose significant litigation and arbitration cases from 2016 to 2017. The total undisclosed amount was 451.02 million yuan, affecting the company's net assets significantly. The company must submit a written rectification report within 30 days and is required to enhance compliance with securities laws and regulations.
Summary generated by AI · Always verify with source document
Full Translation
AI Translation· azure_openai
Sign in to read the full translation
Free accounts get 10 full releases per month. Pro subscribers get unlimited access.