Zhengping Road & Bridge Construction (603843.SH) has received a warning letter from the Qinghai Securities Regulatory Bureau.

Zhengping Road & Bridge Construction (603843.SH) issued an announcement stating that on November 12, 2024, the company received a decision from the Qinghai Regulatory Bureau of the China Securities Regulatory Commission on administrative supervision measures, titled "Decision on Issuing a Warning Letter to Zhengping Road & Bridge Construction Co., Ltd. and Related Individuals" numbered Qing20249. Investigations revealed that a disclosure made by the company on August 30, 2024, titled "Announcement on Temporary Inability to Repay Raised Funds for Supplementary Working Capital on Time," showed that the company temporarily could not repay the 190 million yuan raised for supplementary working capital on time. The Qinghai Regulatory Bureau issued a regulatory warning letter to the company on September 3, 2024, urging them to take effective measures to promptly repay the temporarily raised funds for working capital and disclose the progress of related matters in a timely manner. As of November 11, 2024, the 190 million yuan temporarily raised for working capital has not been repaid to the raised funds account, and there has been no disclosure of progress on the matter. The above actions of the company violate the regulatory requirements of the "Guidelines for Regulation of Listed Companies on the Management and Use of Raised Funds" (CSRC Announcement [2022] No. 15), article nine, and the "Measures for the Administration of Information Disclosure by Listed Companies" (CSRC Order No. 182), article three. Former Chairman and CEO of the company, Peng Youhong, and former CFO Yan Wenwen, violated articles four and fifty-one of the "Measures for the Administration of Information Disclosure by Listed Companies" (CSRC Order No. 182) and bear primary responsibility for the aforementioned violations. In accordance with article fifty-two of the "Measures for the Administration of Information Disclosure by Listed Companies" (CSRC Order No. 182), the Qinghai Regulatory Bureau has decided to issue a warning letter for supervision to the company and related individuals, and record it in the integrity file of the securities and futures market.