Jinquan: Warned for failing to timely disclose related party transactions

Zhitong
2025.01.15 10:04

Jinquan announced that the company recently received a warning letter issued by the Jiangsu Securities Regulatory Bureau. Upon investigation, it was found that from August 5, 2024, to August 19, 2024, the company acquired a total of 150 million yuan in large-denomination certificates of deposit held by the related party Jiangsu Aoliwei Sensor High-Tech Co., Ltd., with a transaction price of 153 million yuan, including principal and accrued interest, accounting for 11.5% of the most recent audited net assets. The company failed to timely fulfill the review procedures and information disclosure obligations, and only conducted the review and disclosure on November 28, 2024. The Jiangsu Securities Regulatory Bureau issued a warning for this behavior. The company stated that it will strictly rectify according to the requirements to ensure the compliance of information disclosure

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