Yibin Paper and related responsible persons received a warning letter from the Sichuan Securities Regulatory Bureau
Yibin Paper recently received a warning letter from the Sichuan Securities Regulatory Bureau for failing to promptly transfer funds back during the acquisition of Sichuan Push Acetate Fiber Co., Ltd., resulting in non-operating fund occupation by related parties. The relevant funds of 191,413,107.70 yuan were only transferred back to the Push Acetate Fiber account on January 10, 2025. The company did not disclose the situation of centralized fund management and related receivable balances
According to the announcement from Zhitong Finance APP, Yibin Paper (600793.SH) has received a notice from the Sichuan Regulatory Bureau of the China Securities Regulatory Commission regarding the decision to issue a warning letter to Yibin Push Group Co., Ltd., Yibin Paper Co., Ltd., and related responsible personnel (2025) No. 53.
According to the company's 2024 annual report, there are instances of non-operational fund occupation by related parties. During the acquisition of a 67% stake in Sichuan Push Acetate Fiber Co., Ltd. (referred to as "Push Acetate Fiber"), the funds concentrated in the financial settlement center account of its original shareholder, Sichuan Push Group Co., Ltd. (referred to as "Push Group"), were not timely transferred back by the consolidation date of December 25, 2024. By January 10, 2025, the relevant funds of 191,413,107.70 yuan were only transferred back to the Push Acetate Fiber account. The company did not disclose the centralized management of Push Acetate Fiber's funds and the resulting balance of Push Acetate Fiber's receivables from Push Group, as well as the solutions
