ST Huawen announced that the company and related parties, Beijing Xinying Shi Automobile Co., Ltd., then-chairman and president Wang Fanghuai, then-vice president Zhang Xiaoyong, and then-board secretary Jin Ri received a warning letter from the Hainan Securities Regulatory Bureau. The irregularities include: the 47 million yuan equity transfer was eventually used by the relevant Fangying Shi Auto, which constituted a non-operating capital occupation and was not returned until December 5, 2025; the subsidiary purchased 15 CBC bonds issued by the original controlling shareholder involving a related transaction of 30.14,400 yuan, which was not disclosed in accordance with regulations, and was not further disclosed until July 30, 2026. The relevant parties were taken to issue a warning letter and recorded in the capital market integrity file. A written rectification report was required within 30 working days. Currently, the use of capital has been rectified, related transactions have been traced, and the underlying bonds have been transferred.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.