On October 31, Dongfang Risheng announced that. The Company, Chairman Lin Haifeng and Secretary of the Board of Directors Xueshanxing recently received the Decision on Administrative Supervision Measures issued by the Ningbo Regulatory Bureau of the China Securities Regulatory Commission due to the untimely disclosure of information and the inadequate implementation of the insider registration management system.
The announcement shows that on June 8, 2022, Dongfang Risheng disclosed that it intends to transfer 100% equity of Ningxia Xuning New Energy Technology Co., Ltd. Ningxia Xuning should repay the company 's loan of 184.8475 million yuan before August 31, 2022.
However, Ningxia Xuning did not repay the full amount as scheduled, and by the end of 2024, the balance of arrears was 105.6586 million yuan . Dongfang Risheng failed to disclose the significant progress of the incident in a timely manner as required.
At the same time, the company failed to register insider information on major events such as performance forecasts, which violated the relevant regulations. In
this regard, Ningbo Securities Regulatory Bureau decided to take administrative supervision measures to order Dongfang Risheng to correct, to take administrative supervision measures to supervise Lin Haifeng and Xueshanhang, and to record them in the integrity archives database of the securities and futures market.
Previously, in 2020 and 2023, Dongfang Risheng had been taken administrative supervision measures by relevant departments because of the letter problem. In 2023
alone, Dongfang Risheng was twice issued a warning letter by Ningbo Regulatory Bureau due to the problem of credit. In January 2023, a warning letter was issued due to the disclosure of the undisclosed information of the listed company on the social media by the senior executives at that time; in November 2023, a warning letter was issued due to the failure to timely disclose the contract arbitration case of 520 million yuan with FOCUS. This also makes its internal governance problems criticized by the market.
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