Important Notice:
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The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws. On November 29, 2019, the company received the CSRC's Administrative Penalty and Market Ban Advance Notice (Document No. [2019] 149). According to the facts established in the notice, the company reported negative net profits for four consecutive years from 2015 to 2018, which triggers the mandatory delisting circumstances as per Article 4, Item (3) of the Shenzhen Stock Exchange's Implementation Measures for Mandatory Delisting of Listed Companies for Major Violations. The company's stock may face mandatory delisting due to major violations.
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The company and some parties involved have made statements, defenses, and hearings regarding the administrative penalties proposed by the CSRC.