SNAT: The Shanghai Securities Regulatory Bureau has taken corrective measures against SNAT
SNAT recently received a notice from the Shanghai Securities Regulatory Bureau, stating that due to errors in the income reported in the 2021 restructuring report and the annual reports from 2021 to 2023, as well as the failure to properly review and disclose the related party relationships and transactions with Heavy Truck Hui as required, the bureau has decided to impose corrective measures on the company
According to the Zhitong Finance APP, Power New Technology (600841.SH) announced that the company recently received a decision from the Shanghai Regulatory Bureau of the China Securities Regulatory Commission regarding the corrective measures and warning letter issued to Shanghai Power New Energy Automobile Technology Co., Ltd., and individuals Lou Jianping, Gu Yaohui, and Wang Hongbin. The decision stated that the company disclosed incorrect revenue in the restructuring report released in 2021 and in the annual reports from 2021 to 2023; it failed to review and disclose the related party relationships and transactions with Heavy Truck Hui as required. The Shanghai Securities Regulatory Bureau decided to take supervisory measures to order Power New Technology to make corrections
