Asiainfo Security Technologies (688225.SH) received a warning letter from the Jiangsu Securities Regulatory Bureau.

Announcement from Asiainfo Security Technologies (688225.SH): The company recently received the Administrative Supervision Measure Decision No. 214 of 2024 from the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission - "Decision of Jiangsu Securities Regulatory Bureau on Issuing a Warning Letter to Asiainfo Security Technologies Co., Ltd. and Tang Xugu". The main contents of the decision are now announced as follows: Asiainfo Security Technologies Co., Ltd. and Tang Xugu: On February 25, 2022, the Board of Directors of Asiainfo Security Technologies Co., Ltd. (hereinafter referred to as the Company) approved the "Proposal on the Use of Partial Temporarily Idle Raised Funds for Cash Management," agreeing to use a maximum of RMB 1.01 billion (including the principal) of temporarily idle raised funds for cash management, with a duration not exceeding 12 months from the date of the Board's approval. When the Board's decision period expired on February 25, 2023, the Company failed to timely redeem RMB 565 million of idle raised funds used to purchase financial products, and only convened a Board meeting on April 7, 2023, to discuss the cash management quota for the next 12 months. For the cash management situation between February 25, 2023, and April 6, 2023, the Company did not fulfill the approval procedures and disclosure obligations. In accordance with Article 52 of the Measures for the Administration of Information Disclosure by Listed Companies (CSRC Order No. 182), our bureau has decided to issue a warning letter as an administrative supervision measure and record it in the integrity file of the securities and futures market. You should strengthen your awareness of legality and compliance, enhance your understanding of securities laws and regulations, prevent such violations from happening again, and submit a written report to our bureau within 10 working days from the date of receiving this decision.