Securities Code: 002587
Securities Abbreviation: Aotuo Electronics
Announcement No.: 2026-062
Shenzhen Aotuo Electronics Co., Ltd.
Announcement on Regulatory Measures or Penalties Taken Against the Company by Securities Regulatory Authorities and Stock Exchanges in the Past Five Years
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Shenzhen Aotuo Electronics Co., Ltd. (hereinafter referred to as "Aotuo Electronics" or "the Company") intends to issue shares to specific objects through a simplified procedure. In accordance with relevant requirements, the Company hereby announces the regulatory measures or penalties taken against it by securities regulatory authorities and stock exchanges in the past five years, and the rectification situation:
I. Situation of Penalties Imposed on the Company by Securities Regulatory Authorities and Stock Exchanges in the Past Five Years
The Company has not been subject to any penalties from the China Securities Regulatory Commission, the Shenzhen Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as "Shenzhen CSRC"), or the Shenzhen Stock Exchange in the past five years.
II. Situation of Regulatory Measures Taken Against the Company by Securities Regulatory Authorities and Stock Exchanges and Rectification in the Past Five Years
(I) Specifics of Regulatory Measures Taken
On December 28, 2021, the Company received the "Decision on Ordering Rectification Measures Against Shenzhen Aotuo Electronics Co., Ltd." ([(2021) No. 147]) (hereinafter referred to as the "Decision") issued by the Shenzhen CSRC. The Shenzhen CSRC decided to take administrative regulatory measures to order the Company to rectify its operations and required the Company to rectify the issues identified in the "Decision." Upon investigation, the Company has the following problems:
- Problems with Corporate Governance
(1) Irregular Operation of the Three Meetings
Some directors of the Company have continuously failed to attend the shareholders' general meeting without written leave, which does not comply with Article 26 of the "Rules for Shareholders' General Meetings of Listed Companies" (CSRC Announcement [2016] No. 22, hereinafter referred to as "these Rules"); the procedures for vote counting and supervision at the shareholders' general meeting are not standardized, which does not comply with Article 87, Paragraph 1 of the "Guidelines for the Articles of Association of Listed Companies"; and the documentation for director elections is not standardi