ComNav Technology Ltd.: The Shanghai Securities Regulatory Bureau has taken corrective measures against the company

According to the Zhitong Finance APP, ComNav Technology Ltd. (688592.SH) announced that the company recently received a decision from the Shanghai Regulatory Bureau of the China Securities Regulatory Commission regarding the implementation of corrective measures. The decision pointed out several factual issues within the company: First, multiple asset and liability items experienced significant changes year-on-year, but on page 45 of the annual report, the "Analysis of Asset and Liability Situation" checkbox was marked as "not applicable," failing to explain the significant year-on-year changes in assets and liabilities during the reporting period as required by Article 25, Item (3) of the "Guidelines for the Content and Format of Information Disclosure by Companies Issuing Securities to the Public No. 2 - Annual Report (2021 Revision)" (CSRC Announcement [2021] No. 15). Second, there were errors in the data regarding the permanent replenishment of over-raised funds on page 110 of the annual report, and the payment of issuance expenses from over-raised funds was not disclosed. The data on permanent replenishment of over-raised funds in Appendix 1 of the "Special Report on the Storage and Use of Raised Funds for the Year 2024" is incorrect. Third, in the disclosure of "Investment in Other Equity Instruments" on page 204 of the annual report, the gains included in other comprehensive income for Shanghai Xihongqiao Navigation Technology Co., Ltd. and Sichuan Tianze Technology Co., Ltd. were incorrectly filled out, and the additional investment for Sichuan Tianze Technology Co., Ltd. was omitted. The aforementioned actions of ComNav Technology Ltd. violated the provisions of Article 3, Paragraph 1 of the "Administrative Measures for Information Disclosure by Listed Companies" (CSRC Order No. 182)