Zhitong Finance App News, Huamao Logistics (603128.SH) issued an announcement. The company recently received the “Decision on Ordering Corrective Measures against Hong Kong-China Travel Huamao International Logistics Co., Ltd.” (“Decision”) from the Shanghai Regulatory Bureau of the China Securities Regulatory Commission (“Shanghai Securities Regulatory Bureau”).

The “Decision” indicates that the company has irregularities such as untimely and inaccurate disclosure of the completion of performance commitments, failure to comply with review procedures for some related transactions, failure to promptly fulfill relevant information disclosure obligations, inaccurate disclosure of information on individual large payments, and non-operational occupation by other related parties. According to relevant regulations, the Shanghai Securities Regulatory Bureau decided to take administrative supervision measures ordering corrections against the company, and issued separate administrative supervision measures for then-chairman Xiang Hong, then-chairman Wu Chunquan, then-general manager Chen Yu, and then-financial director and board secretary Yu Yongqian.

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