Zhejiang Xiantong (603239.SH) shareholder Li Qifu received a warning letter from the Zhejiang Securities Regulatory Bureau

Zhitongcaijing · 10/25 12:09

Zhitong Finance App News, Zhejiang Xiantong (603239.SH) issued an announcement. The company recently received the Administrative Supervision Measures Decision ([2024] No. 227) “Zhejiang Securities Regulatory Bureau's Decision on Taking Measures to Issue a Warning Letter against Li Qifu” (hereinafter referred to as the “Warning Letter”) issued by the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as the “Zhejiang Securities Regulatory Bureau”).

After investigation, Li Qifu, as a shareholder holding more than 5% of the company's shares, reduced his holdings of Zhejiang Xiantong shares through centralized bidding and bulk transactions from August 1, 2024 to August 7, 2024. The shareholding ratio was reduced from 26.55% to 23.69%, with a cumulative reduction of 2.86%. During this period, the total change in the shareholding ratio reached 1% on August 1, 2024 and August 5, 2024, respectively. Li Qifu did not promptly inform Zhejiang Xiantong the day after the change in shareholding ratio reached 1%. As a result, Zhejiang Xiantong did not disclose the “Indicative Supplementary Notice on Changes in Shareholders' Equity by More than 1%” until September 4, 2024, which constituted untimely disclosure of information. This act violates the provisions of Article 13 (3) of the “Administrative Measures on Takeovers of Listed Companies” (Securities Regulatory Commission Order No. 166).