---
title: "NBTM: Received a warning letter from the Ningbo Securities Regulatory Bureau"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/243439852.md"
description: "NBTM received a warning letter from the Ningbo Securities Regulatory Bureau for failing to timely disclose the terms of the share acquisition in the equity transfer agreement with Shanghai Fuchi. The then Chairman Zhu Zhirong and Board Secretary Yan Fengmu bear primary responsibility for this. The Ningbo Securities Regulatory Bureau decided to take administrative regulatory measures in the form of a warning letter against the company and the responsible individuals, which will be recorded in their integrity files. The company has rectified the situation and improved the quality of information disclosure"
datetime: "2025-06-06T09:41:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/243439852.md)
  - [en](https://longbridge.com/en/news/243439852.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/243439852.md)
---

# NBTM: Received a warning letter from the Ningbo Securities Regulatory Bureau

NBTM announced that the company received a warning letter from the Ningbo Securities Regulatory Bureau, pointing out that the company and relevant responsible persons have violated regulations. The company's equity transfer agreement with Shanghai Fuchi regarding the share acquisition clause that Shanghai Fuchi has not independently listed within five years was not disclosed in a timely manner, and was only disclosed on March 24, 2025. The then Chairman and General Manager Zhu Zhirong and the then Secretary of the Board Yan Fengmu failed to perform their duties diligently and are primarily responsible for the violations. The Ningbo Securities Regulatory Bureau decided to take administrative regulatory measures by issuing a warning letter to the company and Zhu Zhirong, Yan Fengmu, and record it in the integrity file of the securities and futures market. The company and relevant personnel have made corrections, strengthened the study of laws and regulations, and improved the awareness of standardized operations and the quality of information disclosure

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