---
title: "SHENZHEN STRONGTEAM DECORATION ENGINEERING was warned by regulatory authorities due to violations in fundraising"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/228151657.md"
description: "SHENZHEN STRONGTEAM DECORATION ENGINEERING was warned by the Shenzhen Stock Exchange with a regulatory letter for improper management of raised funds from 2020 to 2023. Issues include not setting up dedicated accounts, transferring idle funds to general accounts, and exceeding the use of funds for individual projects, violating multiple listing rules. Relevant responsible persons failed to fulfill their diligence obligations, and the Shenzhen Stock Exchange requires the company and responsible persons to comply with laws and regulations to ensure the authenticity and completeness of information disclosure"
datetime: "2025-02-13T07:41:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/228151657.md)
  - [en](https://longbridge.com/en/news/228151657.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/228151657.md)
---

# SHENZHEN STRONGTEAM DECORATION ENGINEERING was warned by regulatory authorities due to violations in fundraising

Zhongtian Decoration announced that the company had issues with the management and use of raised funds from 2020 to 2023, including not setting up a dedicated account for raised funds, transferring idle raised funds into a general account for cash management, and exceeding the use of raised funds for certain investment projects. In addition, the company failed to timely fulfill the review procedures and information disclosure obligations for replacing raised funds with self-raised funds. These actions violated multiple provisions of the Shenzhen Stock Exchange's "Stock Listing Rules" and "Self-Regulatory Guidelines for Listed Companies." The then Chairman Qiao Rongjian, then General Manager Zhang An, and then Chief Financial Officer and Board Secretary Mao Aijun were accused of failing to fulfill their diligence and responsibility obligations. The Shenzhen Stock Exchange requires the company and relevant responsible persons to strictly comply with laws and regulations to ensure the authenticity and completeness of information disclosure

### Related Stocks

- [002989.CN](https://longbridge.com/en/quote/002989.CN.md)

## Related News & Research

- [China’s Jinlihua Electric Soars by Limit After Unveiling Plan to Foray Into Commercial Aerospace Field](https://longbridge.com/en/news/287036981.md)
- [01:00 ET"Greatest Tomatoes from Europe" Returns to the USA to Celebrate the Quality, Heritage, and Versatility of European and Italian Canned Tomatoes](https://longbridge.com/en/news/287007471.md)
- [Polytechnic students create AI chatbot to improve access to special needs resources and support](https://longbridge.com/en/news/286932477.md)
- [Europe-China spacecraft launches to study Earth's 'invisible armour'](https://longbridge.com/en/news/286881963.md)
- [ZAWYA: KIB Group, represented by KIB Invest, acts as Joint Lead Manager in landmark $700mln Sukuk issuance by First Abu Dhabi Bank](https://longbridge.com/en/news/287054139.md)