COFCO Science and Industry announced that on October 15, 2024, the company received the “Decision on Administrative Supervision Measures” issued by the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission. According to the decision, the company had the following irregularities: first, it used idle raised funds for cash management and failed to re-fulfill review procedures and information disclosure obligations; second, the fund-raising project “Intelligent Manufacturing of Customized Grain and Oil Equipment and Complete Integrated Core Technology Innovation Platform Project” had no capital investment for three consecutive years. There was a difference between the actual investment progress of the fund-raising project and the investment plan, and the reason for the difference was not explained in the relevant report. According to relevant regulations, the Jiangsu Regulatory Bureau decided to take administrative supervision measures to issue warning letters against the company and relevant responsible persons, and record them in the securities and futures market integrity file.

COFCO Science and Industry announced that on October 15, 2024, the company received the “Decision on Administrative Supervision Measures” issued by the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission. According to the decision, the company had the following irregularities: first, it used idle raised funds for cash management and failed to re-fulfill review procedures and information disclosure obligations; second, the fund-raising project “Intelligent Manufacturing of Customized Grain and Oil Equipment and Complete Integrated Core Technology Innovation Platform Project” had no capital investment for three consecutive years. There was a difference between the actual investment progress of the fund-raising project and the investment plan, and the reason for the difference was not explained in the relevant report. According to relevant regulations, the Jiangsu Regulatory Bureau decided to take administrative supervision measures to issue warning letters against the company and relevant responsible persons, and record them in the securities and futures market integrity file.