Xi'an Typical Industries (SHA:600302) received a warning from China's securities regulator stemming from accounting errors in its 2023 annual report.
The regulator found inaccuracies related to the accounting of entities in the industrial sewing machine manufacturer's supply chain project receivables and insufficient provisions for credit impairment losses.
Former Chair and General Manager Tian Bin and former CFO Hu Guojiang were deemed primarily responsible.
Xi'an Standard Industrial must submit a formal rectification plan within 30 days.
Shares of the company closed 2% lower Monday.
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