Securities Code: 300163
Securities Abbreviation: Pioneer Material
Announcement No.: 2026-039
Ningbo Pioneer Material Co., Ltd.
Announcement Regarding Company and Related Parties Receiving Administrative Penalty Decision
The Company and the entire Board of Directors guarantee that the information disclosed is true, accurate, complete, and free from false records, misleading statements, or major omissions.
Ningbo Pioneer Material Co., Ltd. (hereinafter referred to as the "Company") disclosed on July 24, 2025, the "Announcement Regarding the Company and its Former Controlling Shareholder and Actual Controller Receiving Notice of Filing for Investigation" (Announcement No.: 2025-049). Due to suspected violations of information disclosure laws and regulations, in accordance with the "Securities Law of the People's Republic of China," "Administrative Penalty Law of the People's Republic of China," and other laws and regulations, the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") decided to file a case against the Company and Mr. Lu Xianfeng for investigation.
On May 15, 2026, the Company and related parties received the "Notice of Prior Administrative Penalty" (Yong Zheng Jian Gao Zi [2026] No. 5) issued by the CSRC Ningbo Bureau. Lu Xianfeng received the "Notice of Prior Administrative Penalty" (Yong Zheng Jian Gao Zi [2026] No. 4) issued by the CSRC Ningbo Bureau. For specific details, please refer to the "Announcement Regarding the Company and Related Parties Receiving the 'Notice of Prior Administrative Penalty'" (2026-027) disclosed by the Company on May 16, 2026.
On July 8, 2026, the Company and related parties received the "Administrative Penalty Decision" ([2026] No. 3) issued by the CSRC Ningbo Bureau. Lu Xianfeng received the "Administrative Penalty Decision" ([2026] No. 4) issued by the CSRC Ningbo Bureau. The specific situation is hereby announced as follows:
I. Specific Content of the "Administrative Penalty Decision" ([2026] No. 3)
Party Involved: Ningbo Pioneer Material Co., Ltd. (hereinafter referred to as Pioneer Material or the Company), Domicile: Shantou Village, Jishigang Town, Haishu District, Ningbo City, Zhejiang Province.
Lu Xianfeng, male, born in July 1970, General Manager and Director of Pioneer Material.
Bai Ruichen, male, born in November 1976.
Xiong Jun, male, born in December 1988, Chairman and Director of Pioneer Material.
In accordance with the relevant provisions of the "Securities Law of the People's Republic of China" revised in 2005 (hereinafter referred to as the "2005 Securities Law") and the "Securities Law of the People's Republic of China" revised in 2019 (hereinafter referred to as the "2019 Securities Law"), our bureau initiated an investigation into the case of information disclosure violations and illegal acts by Pioneer Material and notified the parties involved of the facts, reasons, and basis for the administrative penalty, as well as the rights they are legally entitled to, and heard the statements and defenses of the parties involved and their agents. The case has now been investigated and concluded.
Upon investigation, the parties involved committed the following illegal acts:
-
On November 6, 2018, Lu Xianfeng, then the controlling shareholder and actual controller of Pioneer Material, signed the "Equity Transfer Agreement" with the acquirer He Qinming, agreeing to transfer 29.8% of Pioneer Material's equity held by Lu Xianfeng to He Qinming or his designated transferee, with a transfer price not exceeding RMB 1 billion. Pioneer Material failed to disclose the signing of the "Equity Transfer Agreement" in a timely manner, and this matter was first disclosed in the "Announcement Regarding Controlling Shareholder Signing Equity Transfer Agreement and Litigation" on March 19, 2024.
-
From November 2018 to March 2019, the Company disclosed multiple times the transfer of a total of 11% of Pioneer Material's equity by Lu Xianfeng and his designated party, but failed to disclose the actual transferee, He Qinming.