Zhongxin Group: Independent director Liu Yong received an administrative penalty decision due to non-company matters.

China News Group announced that independent director Liu Yong was warned and fined 400,000 yuan by the China Securities Regulatory Commission for illegal practices in the practice of accounting firm Tianye. Liu Yong has been serving as an independent director of the company since June 2020. The administrative penalty does not relate to the company and will not affect its daily operations.