--- title: "GOPRO and related responsible persons received administrative regulatory measures decision from Xiamen Securities Regulatory Bureau" type: "News" locale: "en" url: "https://longbridge.com/en/news/223086511.md" description: "GOPRO and related responsible persons received an administrative regulatory measure decision from the Xiamen Securities Regulatory Bureau due to issues such as insufficient independence, omission of risk response measures in the annual report, failure to timely manage related parties, and irregular accounting practices. The regulatory bureau pointed out that these actions violated relevant information disclosure management measures and required the company to make corrections and issue a warning letter" datetime: "2024-12-23T11:15:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/223086511.md) - [en](https://longbridge.com/en/news/223086511.md) - [zh-HK](https://longbridge.com/zh-HK/news/223086511.md) generator: "portal-rs" --- # GOPRO and related responsible persons received administrative regulatory measures decision from Xiamen Securities Regulatory Bureau According to the announcement from Zhitong Finance APP, GOPRO (300632.SZ) stated that the company and relevant responsible persons received the "Decision on Ordering Xiamen GOPRO Electronics Co., Ltd. to Correct and Issuing a Warning Letter" and the "Decision on Issuing a Warning Letter to Lin Ruimei, Lin Wenkun, Zhang Jinyan, and Guan Xiaobo" issued by the Xiamen Regulatory Bureau of the China Securities Regulatory Commission. The Xiamen Regulatory Bureau pointed out the following issues with the company: 1. Insufficient independence, failing to maintain independence from related parties in terms of patents, trademarks, business locations, personnel, etc. The relevant statements regarding the company's independence in the 2022 and 2023 annual reports are inaccurate, violating Article 3, Paragraph 1 of the "Administrative Measures for Information Disclosure of Listed Companies" (CSRC Order No. 182, revised in 2021) and Article 68 of the "Corporate Governance Standards for Listed Companies" (CSRC Announcement \[2018\] No. 29). 2. The 2023 annual report omitted the section "Risks the Company May Face and Response Measures," violating Article 3, Paragraph 1, and Article 21 of the "Administrative Measures for Information Disclosure of Listed Companies," as well as Item 4 of Article 26, Paragraph 1 of the "Guidelines for the Content and Format of Information Disclosure by Companies Issuing Securities to the Public No. 2 - Content and Format of Annual Reports" (CSRC Announcement \[2021\] No. 15, revised in 2021). 3. The company did not timely include 12 enterprises, including Xiamen GOPRO Smart Technology Co., Ltd. and Xiamen Chanmei Information Technology Co., Ltd., in the list of related parties for management. When conducting transactions with related parties, there were instances of failing to perform or timely perform the review procedures for related transactions and failing to fulfill information disclosure obligations in accordance with the law, violating Article 3, Paragraph 1, and Article 41 of the "Administrative Measures for Information Disclosure of Listed Companies." 4. Non-standard accounting practices led to inaccurate disclosure of relevant financial information in the 2022 and 2023 annual reports. First, there were instances of recognizing income from commissioned processing business using the total amount method, resulting in the company over-reporting operating income and operating costs in 2022. Second, the income from molds for customers was not timely recognized in 2022, and the related cost accounting was inaccurate. Third, there were cross-period sales expenses. Fourth, improper accounting treatment of inventory write-offs and subsequent sales. Fifth, insufficient provision for inventory impairment. The above behaviors do not comply with Article 3, Paragraph 1 of the "Administrative Measures for Information Disclosure of Listed Companies." 5. The cash management of idle raised funds does not comply with regulations, with instances of using large amounts of idle raised funds to purchase non-principal-protected bank financial products. The company's temporary report on the use of idle raised funds for cash management contains inaccurate information disclosure, which does not comply with Article 3, Paragraph 1 of the "Administrative Measures for Information Disclosure of Listed Companies" and Article 8 of the "Regulatory Guidelines No. 2 for Listed Companies - Regulatory Requirements for the Management and Use of Raised Funds" (CSRC Announcement \[2022\] No. 15, revised in 2022) ### Related Stocks - [300632.CN](https://longbridge.com/en/quote/300632.CN.md) - [688603.CN](https://longbridge.com/en/quote/688603.CN.md) - [002595.CN](https://longbridge.com/en/quote/002595.CN.md) - [301022.CN](https://longbridge.com/en/quote/301022.CN.md) - [002510.CN](https://longbridge.com/en/quote/002510.CN.md) - [301252.CN](https://longbridge.com/en/quote/301252.CN.md) - [688507.CN](https://longbridge.com/en/quote/688507.CN.md) - [00023.HK](https://longbridge.com/en/quote/00023.HK.md) ## Related News & Research - [08:13 ETAirworthy.com Releases 2026 State of General Aviation Parts Report](https://longbridge.com/en/news/296702598.md) - [AL Sydbank A/S share buyback programme: transactions in week 34](https://longbridge.com/en/news/296759170.md) - [Atomic Eagle Re-Establishes 60% Operating Interest in Madaouela Uranium Project](https://longbridge.com/en/news/296731180.md) - [FOCUS-Green giant: How Taylor Farms became a top salad supplier before US diarrhea outbreak](https://longbridge.com/en/news/296469939.md) - [Athene shifts CLO exposure toward AMAPS, citing tighter spreads in CLO market](https://longbridge.com/en/news/296791254.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**