Unigroup Guoxin Microelectronics (SHE:002049) received a warning from the China Securities Regulatory Commission for failing to perform review procedures related to project funds, according to a Shenzhen bourse disclosure on Thursday.
The Chinese integrated circuit manufacturer was found to have not disclosed immediately when funds from certain projects, which were initially funded from the general account, were replaced with raised funds from the issuance of a 1.49 billion bond in 2021.
The funds were raised for the RF ADC and supporting clock chip R&D plant, a video processor chip plant, and the construction of a research and production building for Shenzhen Guoxin.
Unigroup's shares fell less than 2% at the close of Thursday's trade.
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