Due to violations of disclosure regulations, Fujian Snowman Group (002639.SZ) and related personnel have been subjected to administrative supervision measures.

Fujian Snowman Group (002639.SZ) announced that the company and related personnel recently received an administrative supervision decision from the Fujian Regulatory Bureau of the China Securities Regulatory Commission, entitled "Decision on Imposing Corrective Measures on Fujian Snowman Group Co., Ltd. and Conducting Regulatory Talks with Lin Rujie and Xu Huizong." The specific details are as follows: In the impairment test of goodwill-related assets of its subsidiary Sichuan Jiayun Oil and Gas Technology Service Co., Ltd. in the 2023 annual report, there were issues with the evaluation work of the relevant assessment agency, including not using market value to calculate the debt-equity ratio, inconsistency between the forecasted basis of future cash flows and the determined book value of goodwill assets, and incorrect calculation of working capital, leading to an overestimation of the goodwill-related asset group's assessment value. Fujian Snowman Group directly adopted the assessment results of the evaluation agency, resulting in inappropriate recognition of the impairment of goodwill in 2023. The above situation does not comply with the provisions of Article 9, 10, and 23 of "Enterprise Accounting Standards No. 8 - Impairment of Assets (2006)." The above situation of Fujian Snowman Group violates the relevant provisions of Article 3(1) of the "Regulations on the Management of Information Disclosure by Listed Companies" (CSRC Order No. 182, hereinafter referred to as the "Disclosure Regulations"). Lin Rujie, as Chairman and General Manager, and Xu Huizong, as CFO, failed to fulfill their duties diligently, violating Article 4 of the Disclosure Regulations. In accordance with the relevant provisions of Article 51(3) of the Disclosure Regulations, Lin Rujie and Xu Huizong bear primary responsibility for the company's aforementioned violations. In accordance with the relevant provisions of Article 52 of the Disclosure Regulations, the Fujian Regulatory Bureau has decided to impose corrective measures on Fujian Snowman Group and conduct regulatory talks with Lin Rujie and Xu Huizong as administrative supervision measures, which will be recorded in the integrity archives of the securities and futures markets.