On November 2, Tongling announced that the company and its related party Zhenjiang Shangkun Business Consulting Co., Ltd. and Yan Rongfei, the company's actual controller, had recently received a warning letter from the Jiangsu Securities Regulatory Bureau and were recorded in the integrity files of the securities and futures market due to the related party's occupation of non-operating funds and failure to fulfill the related party's transaction review procedures and information disclosure obligations in a timely manner.
It is reported that Shangkun Business occupied the funds of listed companies through paid lending from April 8 to 13, 2026, which constituted the occupation of non-operating funds of related parties. Tongling shares failed to fulfill the obligation of deliberation and information disclosure in time for the related party transactions. Yan Rongfei, as the core person in charge of both parties involved, led the lending and took the main responsibility. Accordingly, the Jiangsu Securities Regulatory Bureau issued a warning letter to the three parties.
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