Ningbo Xianfeng New Material Co.,Ltd. (300163.SZ) Ordered by Ningbo Securities Regulatory Bureau to Take Corrective Measures

Stock News09-24

The company received a decision document from the Ningbo Regulatory Bureau of the China Securities Regulatory Commission on September 24, 2026, according to an announcement released by Ningbo Xianfeng New Material Co.,Ltd. (300163.SZ).

The decision document stated that the company held its first extraordinary shareholders' meeting of 2026 on July 17, 2026, during which two non-independent directors and one independent director were elected. However, the total number of directors and the number of independent directors among them both failed to meet the requirements stipulated in the company's articles of association, and the company did not complete the supplementary election in a timely manner as required.

The above actions did not comply with relevant regulations. In accordance with the rules, the Ningbo Securities Regulatory Bureau decided to impose an administrative regulatory measure ordering the company to take corrective action, and the matter will be recorded in the securities and futures market integrity archive database.

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