ST Huatong: Zhejiang Securities Regulatory Bureau issued a warning letter to relevant responsible persons due to inaccurate information disclosure, etc.

On May 12th, ST Huatong announced that the company's relevant personnel recently received a "Warning Letter" issued by the Zhejiang Securities Regulatory Bureau. The annual reports for the years 2018-2022 contained false information regarding goodwill, as well as fabricated software copyright transfer transactions or premature recognition of income, leading to false information in the annual reports and performance commitment explanations for the years 2020 and 2021. The Zhejiang Securities Regulatory Bureau has decided to take supervisory measures against the then Secretary of the Board of Directors and Deputy General Manager Yan Zhengshan, the then Director and Deputy General Manager Shao Heng, General Manager Xie Fei, the then Secretary of the Board of Directors and Deputy General Manager Li Bingjie, the then Deputy Chairman and General Manager Wang Yifeng, the then Secretary of the Board of Directors Zhou Mi, and the Secretary of the Board of Directors and Deputy General Manager Huang Yicai, and to record this in the securities and futures market integrity files.