Hainan Huatie: potential administrative penalty of 8 million yuan due to violation of disclosure regulations

Hainan Huatie announced that the company received a notice of filing from the China Securities Regulatory Commission in 2025 for suspected violations of laws and regulations on information disclosure. Recently, the company and relevant responsible persons received a "Notice of Administrative Penalty Decision". It was found that the company had issues with incomplete disclosure of major contract temporary announcements, and untimely disclosure of significant developments or changes. The then general manager Hu Danfeng, chairman Zhang Qiaoao, and board secretary Guo Haibin failed to fulfill their duties diligently, and were directly responsible as senior management. The Zhejiang Regulatory Bureau of the China Securities Regulatory Commission intends to order the company to make corrections, issue a warning, and impose a fine of 8 million yuan; and impose fines of 4 million, 2.6 million, and 2.6 million yuan on Hu Danfeng, Zhang Qiaoao, and Guo Haibin respectively. The company does not involve any risk warnings or delisting situations, and is currently operating normally.