Yuan Shang Co., Ltd. (603813.SH) and relevant persons in charge received a warning letter from the Guangdong Securities Regulatory Bureau.

Yuan Shang Holdings (603813.SH) announced that the company recently received a decision from the Guangdong Regulatory Bureau of the China Securities Regulatory Commission on the issuance of a warning letter to Guangdong Yuanshang Logistics Co., Ltd., Yu Jun, and Huang Qiuna. The company has the following issues: in the first half of 2025 and the third quarter, the company improperly accounted for some of its revenue using the full amount method instead of the net amount method, leading to an overstatement of revenue by 20 million yuan and 91 million yuan in the first half of 2025 and the third quarter, respectively. Additionally, there was an overstatement of operating costs by 20 million yuan and 91 million yuan in the same periods, although this did not affect the total profit. This resulted in inaccurate disclosure in the company's interim and quarterly reports for 2025, violating relevant regulations. Yu Jun, as the chairman and general manager of the company, and Huang Qiuna, as the financial officer, failed to fulfill their duties diligently and are primarily responsible for the company's violations. The company corrected the accounting errors in its 2025 annual report and made retrospective adjustments.