IMDTECL received a warning letter from the Inner Mongolia Securities Regulatory Bureau
IMDTECL received a warning letter from the Inner Mongolia Securities Regulatory Bureau for failing to disclose in its 2023 semi-annual report that the funds raised from the non-public issuance of shares were directed to fundraising projects through entrusted loans from the related party State Power Investment Corporation Financial Co., Ltd., as well as failing to disclose the related fund transactions with State Power Investment Corporation Financial Co., Ltd
According to the Zhitong Finance APP, IMDTECL (002128.SZ) announced that the company received a warning letter from the Inner Mongolia Regulatory Bureau of the China Securities Regulatory Commission (referred to as "Inner Mongolia Securities Regulatory Bureau"). The decision document pointed out:
In the company's 2023 semi-annual report, it did not disclose that the funds raised from the non-public offering of shares in 2023 were directed to the fundraising projects through entrusted loans from the related party State Power Investment Corporation Financial Co., Ltd. In the 2023 and 2024 "Summary Table of Non-Operating Fund Occupation and Other Related Fund Transactions," as well as the 2023 "Summary Table of Non-Operating Fund Occupation and Other Related Fund Transactions," the company did not disclose the related fund transactions with State Power Investment Corporation Financial Co., Ltd
