Shanghai Sinyang Semiconductor Materials (300236.SZ) and related personnel received a warning letter from the Shanghai Securities Regulatory Bureau.

Shanghai Sinyang Semiconductor Materials (300236.SZ) announced that on September 18, 2024, the company received an administrative supervision decision from the Shanghai Regulatory Bureau of the China Securities Regulatory Commission ("Shanghai Securities Regulatory Bureau") titled "Decision on Issuing Warning Letters to Shanghai Sinyang Semiconductor Materials Semiconductor Materials Co., Ltd., Wang Fuxiang, and Zhou Hongxiao". On August 17, 2024, Shanghai Sinyang Semiconductor Materials disclosed a correction announcement regarding the company's first quarter report for 2024. The company purchased off-exchange options linked to the CSI 1000 Index through off-the-counter pledge credit in the amount of 100 million yuan on November 3, 2023. The company failed to confirm the value of the derivative and its fair value change profit and loss of 15.9159 million yuan in the first quarter report of 2024, resulting in an overstatement of net profit attributable to the company's shareholders of 13.5285 million yuan. It was reported that the information disclosure in the company's first quarter report for 2024, as previously announced, was inaccurate and in violation of relevant regulations. Wang Fuxiang, as the chairman of the company, and Zhou Hongxiao, as the company's chief financial officer, are mainly responsible for the above violations. The Shanghai Securities Regulatory Bureau decided to issue a warning letter to the company, Wang Fuxiang, and Zhou Hongxiao as an administrative supervision measure.