Willing New Energy's controlling shareholder received a warning letter from the Hunan regulatory bureau of the China Securities Regulatory Commission.

Willing New Energy (002667.SZ) announced that its controlling shareholder, Shanghai Lingyi New Materials Co., Ltd., recently received a decision from the Hunan Regulatory Bureau of China Securities Regulatory Commission on issuing a warning letter for administrative supervision. It was found that the equity held by Shanghai Lingyi New Materials Co., Ltd. in Weiling New Energy Co., Ltd. changed from 23.93% to 17.54% between November 4, 2022 and August 14, 2024, exceeding a 5% threshold. Shanghai Lingyi, as the controlling shareholder of Willing New Energy, failed to fulfill its reporting and announcement obligations and cease trading the company's shares when the cumulative change in its shareholding exceeded 5%, violating Article 63(2) of the Securities Law of the People's Republic of China, Article 14(2) and (3) of the Measures for the Administration of Listed Companies' Acquisitions (CSRC Order No. 166). In accordance with Article 170(2) of the Securities Law of the People's Republic of China and Article 75 of the Measures for the Administration of Listed Companies' Acquisitions (CSRC Order No. 166), the Hunan Regulatory Bureau decided to issue a warning letter for administrative supervision to Shanghai Lingyi and record it in the integrity file of the securities and futures market.