Shenqi: Used the halted "Essential Drug Promotion Plan" project to extract sales expenses of 44.84 million yuan, multiple executives were issued warning letters

On September 26th, Shenqi announced that the company received a notice from the Shanghai Securities Regulatory Commission regarding the decision to impose corrective measures on Shanghai Shenqi Pharmaceutical Investment Management Co., Ltd. and to issue warning letters to ZHANG TAO TAO, Feng Bin, and Chen Zhimian. After investigation, it was found that Shenqi had the following violations: In 2023, the company used the suspended "Essential Drug Promotion Plan" to extract sales expenses of 44.8383 million yuan, and transferred fictitious accounts receivable payments through employees' personal accounts. This accounts receivable had previously been fully provisioned for impairment losses, and the company reversed the credit impairment provision of 44.8383 million yuan, resulting in errors in the information disclosed in the company's 2023 annual report. According to the decision, the Shanghai Securities Regulatory Commission decided to impose administrative regulatory measures requiring Shenqi to make corrections and submit a written rectification report within 30 days. At the same time, the then Chairman ZHANG TAO TAO, General Manager Feng Bin, and Chief Financial Officer Chen Zhimian were also subjected to administrative regulatory measures of issuing warning letters for failing to perform their duties diligently