HRTN received a warning letter from the Hubei Securities Regulatory Bureau
HRTN received a warning letter from the Hubei Securities Regulatory Bureau on September 18, 2025, due to improper revenue recognition by its wholly-owned subsidiary in the 2023 fiscal year, resulting in inaccurate financial data disclosure for 2023. The company had previously disclosed a related accounting error correction announcement on April 29, 2025
According to the announcement from the HRTN (000665.SZ), the company received a warning letter from the Hubei Securities Regulatory Bureau on September 18, 2025, regarding the decision to take measures against Hubei Broadcasting and Television Information Network Co., Ltd. and relevant responsible persons.
Previously, on April 29, 2025, the company disclosed an announcement on the correction of prior accounting errors and retrospective adjustments, stating that its wholly-owned subsidiary, Wuhan Investment Co., Ltd. of Hubei Broadcasting and Television Information Network, and the Wuhan branch had improperly recognized revenue from customer collection projects in the fiscal year 2023, leading to corrections in the revenue involved for that year. The improper revenue recognition by HRTN for the fiscal year 2023 resulted in inaccurate disclosures of relevant financial data in the annual report for 2023
