Halo Microelectronics (688173.SH) and related personnel have received a warning letter from the Guangdong Securities Regulatory Bureau.

Halo Microelectronics (688173.SH) Announcement: The company and related personnel recently received the decision of the Guangdong Regulatory Bureau of the China Securities Regulatory Commission (referred to as "Guangdong Regulatory Bureau") to issue a warning letter to Halo Microelectronics Electronic Group Co., Ltd., Tao Hai, NAM DAVID INGYUN, and Tang Yacai. The relevant situation is hereby announced as follows: "Halo Microelectronics Electronic Group Co., Ltd., Tao Hai, NAM DAVID INGYUN, Tang Yacai: According to the "On-Site Inspection Rules for Listed Companies" (CSRC Announcement [2022] No. 21) and other regulations, our bureau recently conducted an on-site inspection of Halo Microelectronics Electronic Group Co., Ltd. (hereinafter referred to as Halo Microelectronics or the company), and found the following issues: 1. Inaccurate disclosure of information: On February 26, 2024, Halo Microelectronics disclosed the "Announcement on Correction of Prior Accounting Errors and Correction of Financial Reports." The company adjusted the accounting method of the revenue of the new product line voice coil motor drive chip business in the first three quarters of 2023 from total value to net value method, thereby correcting accounting errors in the semi-annual report and third quarter report of 2023. The company's adjustment of revenue, operating costs, and other items in the semi-annual report and third quarter report of 2023 before the adjustment was inaccurate, in violation of Article 3, Paragraph 1 of the "Administrative Measures for Information Disclosure of Listed Companies" (CSRC Order No. 182, hereinafter referred to as the same). 2. Irregular use of raised funds: In April 2023, Halo Microelectronics disclosed the resolution of the board of directors to increase capital to its wholly-owned subsidiary, Halo Microelectronics (Hong Kong) Co., Ltd. (referred to as Hong Kong Halo Microelectronics) with its own funds of 30 million US dollars. Due to work errors, the company transferred 35.548 million yuan and 72.110 million yuan from the over-raised fund account to the account of Hong Kong Halo Microelectronics on December 15, 2023 and February 28, 2024 respectively. The above situation does not comply with the provisions of Article 32 of the "Regulations on Continuous Supervision of Listed Companies on the Science and Technology Innovation Board" (CSRC Order No. 154) and Article 4 of the "Guidelines for Supervision of Listed Companies No. 2 - Supervision Requirements for Management and Use of Raised Funds by Listed Companies" (CSRC Announcement [2022] No. 15). Halo Microelectronics has returned all the funds of 107.658 million yuan and interest of 1.084 million yuan generated during the period to the over-raised fund account through its own fund account on April 12 and April 18, 2024. According to the provisions of Article 51, Paragraph 3 and Article 52 of the "Administrative Measures for Information Disclosure of Listed Companies", our bureau has decided to issue a warning letter to Halo Microelectronics, Tao Hai, NAM DAVID INGYUN, and Tang Yacai as an administrative supervision measure. Your company and related personnel should seriously learn from this lesson, strengthen the study of securities laws and regulations, and fulfill information disclosure obligations truthfully, accurately, completely, timely, and fairly in accordance with the law. At the same time, the company should hold accountable the relevant responsible personnel, submit a rectification report and internal accountability situation to our bureau within 30 days of receiving this decision, and copy it to the Shanghai Stock Exchange.