Securities Code: 002217
Securities Abbreviation: HLT
Announcement Number: 2026-025
Heli Tai Technology Co., Ltd.
Announcement Regarding the Company and Related Parties Receiving a "Notice of Prior Administrative Penalty"
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.
Heli Tai Technology Co., Ltd. (hereinafter referred to as the "Company" or "HLT") received a "Notice of Investigation" (No.: JZ-LVS-0262025003) issued by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") on April 28, 2025, due to suspected violations of information disclosure laws and regulations. The CSRC decided to conduct an investigation into the Company, as detailed in the "Announcement Regarding Receipt of CSRC Notice of Investigation" (Announcement No.: 2025-037) disclosed by the Company on April 29, 2025.
On June 18, 2026, the Company and related parties received a "Notice of Prior Administrative Penalty" (No.: Min Zheng Jian Han [2026] 282) issued by the Fujian Securities Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as the "Fujian CSRB"). The relevant content is hereby announced as follows:
I. Main Content of the "Notice of Prior Administrative Penalty"
"Heli Tai Technology Co., Ltd., Wen Kaifu, Chen Guisheng, Zheng Jianfang, Wang Yongyong, Zeng Xiaoli, Huang Aiwu, Zheng Shu, Chen Ying:
The investigation into the suspected information disclosure violations and irregularities by Heli Tai Technology Co., Ltd. (hereinafter referred to as HLT or the Company) has been completed by this Bureau. This Bureau intends to impose administrative penalties on you. The facts of the violations, reasons, basis, and your related rights that this Bureau intends to use for imposing administrative penalties are hereby informed.
The investigation found the following suspected facts of violations:
- Inflated or deflated operating revenue, inflated profits for 2017-2019, and deflated profits for 2020-2021.
HLT inflated its operating revenue for 2017-2019 and deflated its operating revenue for 2020 without actual transactions. Based on the inflated operating revenue, it made excessive provisions for bad debts. Specifically, in 2017, operating revenue was inflated by RMB 687,255,906.35, and provisions for bad debts were increased by RMB 9,638,731.70, resulting in an inflated total profit of RMB 677,617,174.65. In 2018, operating revenue was inflated by RMB 697,938,805.19, and provisions for bad debts were increased by RMB 36,689,568.33, resulting in an inflated total profit of RMB 661,249,236.86. In 2019, operating revenue was inflated by RMB 552,648,189.39, and provisions for bad debts were increased by RMB 78,805,813.39, resulting in an inflated total profit of RMB 473,842,376. In 2020, operating revenue was deflated by RMB 816,774,491.83, and provisions for bad debts were increased by RMB 176,140,626.12, resulting in a deflated total profit of RMB 992,915,117.95. In 2021, provisions for bad debts were increased by RMB 175,358,374.03, resulting in a deflated total profit of RMB 175,358,374.03.
- Incorrect accounting treatment for financing by HLT subsidiaries, inflating profits for 2019-2021.
In September 2019, HLT's subsidiary Jiangxi Heli Tai Technology Co., Ltd. (hereinafter referred to as Jiangxi Heli Tai) and Shenzhen BYD Electronic Components Co., Ltd. (later renamed Shenzhen Heli Tai Optoelectronics Co., Ltd.) received financing of RMB 1 billion and RMB 500 million respectively from ABC Financial Asset Investment Co., Ltd. (hereinafter referred to as ABC Investment). According to the agreements signed by both parties and subsequent execution, the financing should have been accounted for as financial liabilities in accordance with Article 10 of the "Financial Instruments" (Cai Kuai [2017] No. 14) of the "Accounting Standards for Business Enterprises." The Company accounted for these financing amounts as equity instruments, resulting in understated financial expenses of RMB 27,246,600, RMB 97,500,000, and RMB 97,500,000 for 2019, 2020, and 2021 respectively, and inflated total profits of RMB 27,246,600, RMB 97,500,000, and RMB 97,500,000 respectively.