GAD Environmental Technology (300854.SZ) shareholder Liu Qingsong received a warning letter from the Shenzhen Securities Regulatory Bureau.

GAD Environmental Technology (300854.SZ) Announcement: On September 19, 2025, the company received an administrative supervision decision from the Shenzhen Regulatory Bureau of the China Securities Regulatory Commission regarding the issuance of a warning letter to Liu Qingsong. Liu Qingsong, who holds more than 5% of the company's shares, failed to fulfill reporting and disclosure obligations in a timely manner when his shareholding was reduced to exactly 5% on July 21, 2025, and did not legally halt trading.