ST Quanyin announced that on July 9, 2026, the company and related parties received the “Administrative Penalty Decision” issued by the Anhui Regulatory Bureau of the China Securities Regulatory Commission. It was discovered that the company's 2024 annual report did not accurately reflect the debt and debt relationship of the holding subsidiary, underestimated credit impairment losses of 18.7151 million yuan, and inflated the total profit by 18.7151 million yuan, accounting for 10.86% of the total profit disclosed in the current period. The company was warned and fined 3 million yuan; then-chairman Ying Minjie and vice chairman and general manager Zhang Qin were warned and fined 1.5 million yuan each; Zhang Qingyi, then secretary of the board of directors and financial director, was warned and fined 1.3 million yuan. The company said it will focus on the owner's business and strengthen internal control.

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