The Zhejiang Securities Regulatory Bureau has issued warning letters to Minsheng Securities, Ren Shaozhong, and Zhong Desong

The Zhejiang Securities Regulatory Bureau issued a decision stating that, upon investigation, Minsheng Securities Co., Ltd. acted as the continuous supervision institution for the initial public offering of Zhejiang WECOME Pharmaceutical Co., Ltd. During the process of continuous supervision, the following violations were found: First, there was insufficient attention to the abnormal delays in construction projects, and the verification procedures were inadequate. Second, during the issuance of the continuous supervision documents for WECOME Pharmaceutical in 2023, the verification conclusions were not cautious enough, and there were deficiencies in the internal controls of the investment banking business. The aforementioned actions of Minsheng Securities violated the provisions of Article 5, Paragraph 1 of the Administrative Measures for the Sponsorship of Securities Issuance and Listing. Ren Shaozhong and Zhong Desong, as the sponsoring representatives, bear primary responsibility for the above violations. According to Article 65 of the Administrative Measures for the Sponsorship of Securities Issuance and Listing, the Zhejiang Securities Regulatory Bureau decided to take administrative regulatory measures by issuing a warning letter