Xiamen Jihong and Executives Receive Regulatory Sanctions from Xiamen CSRC

Stock News05-29

Xiamen Jihong Co.,Ltd. has announced that the company and certain individuals received regulatory decision documents from the Xiamen Bureau of the China Securities Regulatory Commission on May 29, 2026. The documents are titled "Decision of Xiamen CSRC on Taking Corrective Measures Against Xiamen Jihong Technology Co., Ltd." and "Decision of Xiamen CSRC on Issuing Warning Letters to Zhuang Hao, Wang Yapeng, Lu Tashan, and Zhang Luping."

In 2025, the company conducted related-party transactions with its affiliate AJT Printing and Packing FZ-LLC amounting to 156 million yuan. This amount represents 7.06% of the absolute value of the company's most recently audited net assets. The company failed to promptly fulfill the required deliberation procedures and information disclosure obligations for these related-party transactions as stipulated by regulations.

Consequently, the Xiamen CSRC has decided to take corrective supervisory measures against the company and will record the incident in its integrity file.

Zhuang Hao, who served as the then Chairman and General Manager; Wang Yapeng, the then Chairman; Lu Tashan and Zhang Luping, the then Board Secretaries, failed to fulfill their diligent and dutiful obligations in accordance with relevant regulations. They are held responsible for the aforementioned violations by the company.

Accordingly, the Xiamen CSRC has decided to take supervisory measures by issuing warning letters to Zhuang Hao, Wang Yapeng, Lu Tashan, and Zhang Luping, and will record this information in their integrity files.

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