Changfang Group's stock trading has been subjected to other risk warnings and progress has been disclosed

On January 10, 2025, Changfang Group received the "Notice of Administrative Penalty Pre-Disclosure" from the Shenzhen Securities Regulatory Bureau due to its holding subsidiary, Kangming Sheng, inflating profits and accounts receivable, resulting in false records in the 2020-2021 annual reports. The stock was subjected to other risk warnings starting January 13. On June 27, the company received the "Administrative Penalty Decision," which confirmed the situation was consistent with the pre-disclosure notice and did not involve circumstances for mandatory delisting due to major violations. The company had previously corrected accounting errors for the 2021 fiscal year, and the financial reports for 2022-2024 received unqualified audit opinions. Currently, the company's production and operations are normal, and it will strengthen subsidiary management, improve governance, and disclose information in accordance with regulations