YONFER Agricultural Technology (000902.SZ) and related personnel received a warning letter from the Hubei Securities Regulatory Bureau.

YONFER Agricultural Technology (000902.SZ) announced that the company recently received a decision from the Hubei Regulatory Bureau of the China Securities Regulatory Commission (referred to as the "Hubei Regulatory Bureau") to issue a warning letter and take administrative regulatory measures against YONFER Agricultural Technology Co., Ltd., Yang Caixue, Huang Bin, and Yang Xiaohong. It is reported that the company overstated its trade business revenue in 2018, 2019, and 2020 by RMB 153 million, RMB 111 million, and RMB 15 million, respectively, due to insufficient basis for revenue recognition. The company's financial disclosures for the relevant years were found to be inaccurate. These actions violated relevant regulations. Yang Caixue, the former chairman of the company, Huang Bin, the CEO, and Yang Xiaohong, the CFO, failed to fulfill their duties diligently and responsibly, and are primarily responsible for the company's violations. The Hubei Regulatory Bureau decided to issue a warning letter and administrative regulatory measures against the company, Yang Caixue, Huang Bin, and Yang Xiaohong, and record it in the securities and futures integrity file.