Zhenghai Magnetic Materials announced on November 6 that the company recently received the “Decision on Issuing Warning Letter Measures against Yantai Zhenghai Magnetic Materials Co., Ltd. and related responsible persons” issued by the Shandong Regulatory Bureau of the China Securities Regulatory Commission. The company failed to promptly reduce the book value of deferred income tax assets, resulting in inaccurate disclosure of information related to the company's 2024 semi-annual report and three quarterly report. The company's chairman Wang Qingkai, general manager Li Zhiqiang, then-deputy general manager, and Gao Bo, then financial director, are mainly responsible for the company's irregularities. The Shandong Securities 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.

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