Announcement on Receipt of the "Notice of Administrative Penalty Pre-Disclosure"
The company and all members of the board guarantee that the content of the information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Xi'an Pairui Power Semiconductor Technology Co., Ltd. (hereinafter referred to as "the Company") received the "Notice of Case Filing" (No. 0092025016) issued by the China Securities Regulatory Commission (CSRC) on December 26, 2025. Due to suspected violations of information disclosure laws, the CSRC decided to file a case against the Company. For specific details, please refer to the announcement titled "Announcement on the Company's Receipt of the CSRC's 'Notice of Case Filing'" disclosed on the Giant Tide Information Network on December 26, 2025 (Announcement No. 2025-087).
On June 5, 2026, the Company received the "Notice of Administrative Penalty Pre-Disclosure" (No. [2026]4) issued by the Shaanxi Regulatory Bureau of the CSRC. The relevant situation is announced as follows:
Main Content of the "Notice of Administrative Penalty Pre-Disclosure"
"Xi'an Pairui Power Semiconductor Technology Co., Ltd., Liu Qiang, Bai Jie, Guo Wei: The case of Xi'an Pairui Power Semiconductor Technology Co., Ltd. (hereinafter referred to as Pairui or the Company) suspected of violating information disclosure laws has been investigated by our bureau, and we intend to impose administrative penalties on you. We hereby inform you of the illegal facts, reasons, basis for the proposed administrative penalties, and your related rights.
It has been found that you are suspected of the following illegal facts: Pairui manipulated sales revenue recognition by altering product acceptance documents to smooth company performance, resulting in a reported reduction of operating income by 22,715,044.25 yuan and total profit by 17,117,330.37 yuan in the 2024 annual report, accounting for 11.84% and 26.18% of the reported amounts, respectively; in the 2025 semi-annual report, there was a fictitious increase in operating income by 22,715,044.25 yuan and total profit by 17,117,330.37 yuan, accounting for 26.87% and 50.02% of the reported amounts, respectively.
The then Chairman Liu Qiang was aware of the delayed recognition of sales revenue and allowed the illegal activities to occur, signing the 2024 annual report and the 2025 semi-annual report, ensuring the content was true, accurate, and complete. The then Director and General Manager Bai Jie and the then Chief Financial Officer Guo Wei planned and organized the implementation of the delayed sales revenue recognition, signing the 2024 annual report and the 2025 semi-annual report, ensuring the content was true, accurate, and complete. The above illegal facts are supported by evidence including relevant announcements, financial data, business contracts, explanatory materials, and inquiry records.