Hengbang Stock received a regulatory letter from the Shenzhen Stock Exchange: Information disclosure on safety accidents and production suspension rectification is not timely.

The Management Department of Shenzhen Stock Exchange issued a regulatory letter to Shandong Hengbang Smelting Co., Ltd., Zhang Fan, Qu Shengli, and Xia Xiaobo. The regulatory letter pointed out that after investigation, the company and related parties were found to have the following violations: On August 3, 2024, a sudden splashing of molten copper occurred at Company Smelting A, causing casualties on site. After the accident, Company Smelting A involved in the incident stopped production and rectified. The company did not announce the aforementioned safety accident and the suspension of production and rectification of Company Smelting A until August 13. The disclosure of information related to the safety accident and suspension of production and rectification by the company was untimely. The then Chairman Zhang Fan, General Manager Qu Shengli, and Board Secretary Xia Xiaobo failed to fulfill their duties and obligations of honesty and diligence, violating relevant regulations and bearing responsibility for the above violations.