Zhenghai Magnetic Materials announced that the company recently received a warning letter from the Shandong Regulatory Bureau of the China Securities Regulatory Commission. After investigation, the company failed to reduce the book value of the relevant deferred income tax assets in a timely manner, resulting in inaccurate disclosure of information relating to the 2024 semi-annual report and three-quarter report, in violation of section 3 of the “Administrative Measures on Information Disclosure of Listed Companies”. The company's chairman Wang Qingkai, general manager Li Zhiqiang, then-deputy general manager Zhao Juntao, and then-financial director Gao Bo are mainly responsible for these irregularities. The Shandong Regulatory Bureau decided to take administrative supervision measures to issue warning letters against the company and related personnel, and record them in the securities and futures market integrity file database. The company has corrected the above accounting errors in the early stages and made retroactive adjustments to the financial statements for the first half of 2024 and the third quarter of 2024. The correction did not affect the company's 2024 financial statements.

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