Shenzhen Strongteam Decoration Engineering (002989.SZ) and related personnel received warning letters and regulatory letters.

Shenzhen Strongteam Decoration Engineering (002989.SZ) announced that on February 13, 2025, the company and related responsible parties received a decision from the Shenzhen Regulatory Bureau of the China Securities Regulatory Commission, issued a warning letter to Shenzhen Strongteam Decoration Engineering Co., Ltd., Qiao Rongjian, Zhang An, and Mao Aijun (No. 29 of 2025), as well as a regulatory letter from the Shenzhen Stock Exchange to Shenzhen Strongteam Decoration Engineering Co., Ltd. (Regulatory Letter No. 20 of 2025). Upon investigation, it was found that during the period from 2020 to 2023, the company had issues with the management and utilization of raised funds, specifically: not setting up a special account for managing raised funds, transferring idle raised funds into a general account for cash management; overspending raised funds on certain investment projects; and not promptly fulfilling the approval procedures and disclosure obligations for the substitution of raised funds with pre-invested self-raised funds.