Hezong Science & Technology (300477.SZ) and related parties have received an administrative penalty decision.

Hezong Sience & Technology (300477.SZ) announced that the company and related parties (Liu Zegang, Wei Qiang, Zhang Xiaoyi) have received an "Administrative Penalty Decision" issued by the Beijing Regulatory Bureau of the China Securities Regulatory Commission. In accordance with Article 197, Paragraph 2 of the Securities Law, the Beijing Regulatory Bureau has decided to order Hezong Sience & Technology Co., Ltd. to correct its actions, issue a warning, and impose a fine of 4 million RMB; issue a warning and impose a fine of 3 million RMB on Liu Zegang; issue a warning and impose a fine of 1.5 million RMB on Wei Qiang; issue a warning and impose a fine of 1 million RMB on Zhang Xiaoyi.