Huayang Group (600348.SH) received a notice of investigation from the China Securities Regulatory Commission.

The Zhijing Finance and Economics APP news, Huayang shares (600348.SH) announced that the company has learned from its controlling shareholder, Huayang New Materials Technology Group Co., Ltd. (referred to as "Huayang Group"), that Huayang Group recently received a " Case Filing Notice" (number: CSRC Case Filing Letter 0172025002) from the China Securities Regulatory Commission. Due to Huayang Group's use of funds from Yangmei Chemical Co., Ltd. (referred to as "Yangmei Chemical") in 2021, Yangmei Chemical is suspected of not disclosing non-operational fund transactions in accordance with regulations. According to the laws and regulations of the Securities Law of the People's Republic of China and the Administrative Penalty Law of the People's Republic of China, the China Securities Regulatory Commission has decided to file a case against Huayang Group.