Suzhou Goldengreen Technologies (002808.SZ) and related personnel are expected to be fined a total of more than 20 million yuan by the Jiangsu Securities Regulatory Bureau.

Suzhou Goldengreen Technologies (002808.SZ) announced that on December 27, 2024, the company and related responsible individuals received the "Notice of Administrative Penalty Pre-notification" (Su Securities Regulatory Commission Penalty No. [2024] 16) issued by the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission. The Jiangsu Securities Regulatory Bureau intends to: 1. Give a warning to Golden Green Technologies Corporation and impose a fine of eight million yuan; 2. Give a warning to Yu Rongqing and impose a fine of ten million yuan, of which four million yuan is in the capacity of chairman and general manager, and six million yuan is in the capacity of actual controller; 3. Give a warning to Lin Zhangwei and impose a fine of four million yuan; 4. Give a warning to Feng Fenlan and impose a fine of three million five hundred thousand yuan. Individual Yu Rongqing, as the chairman, general manager, and actual controller of Hengjiu Technology, was aware of the financial fraud of Minbao Information in 2020 and 2021, and concealed relevant matters leading to illegal disclosure of information by the company. Due to the seriousness of the illegal behavior, based on Article 221 of the Securities Law, Article 3, 4, and 5 of the "Provisions on Prohibition of Market Entry in the Securities Market" (CSRC Order No. 115), and Article 3, 4, 5, and 7 of the "Provisions on Prohibition of Market Entry in the Securities Market" (CSRC Order No. 185), it is proposed to take a 5-year ban on the securities market against Yu Rongqing. Individual Lin Zhangwei, as the then general manager of Minbao Information, led, planned, commanded, and implemented systematic financial fraud of Minbao Information, leading to illegal disclosure of information by the company. Due to the seriousness of the illegal behavior, based on Article 221 of the Securities Law, Article 7 of the "Provisions on Prohibition of Market Entry in the Securities Market" (CSRC Order No. 115), and Article 3, 4, 5, and 7 of the "Provisions on Prohibition of Market Entry in the Securities Market" (CSRC Order No. 185), it is proposed to take a 3-year ban on the securities market against Lin Zhangwei.