ST Berry announced that the company and actual controller Wang Hairong received an “Advance Notice of Administrative Penalties” issued by the Hunan Regulatory Bureau of the China Securities Regulatory Commission due to suspected illegal disclosure of information. From June 2022 to September 2023, the company signed contracts with seven suppliers and paid a total of 192 million yuan in advance payments for equipment procurement. The actual controller, Wang Hairong, used advance payments to repay personal debts or lend to third parties, and is suspected of taking up a total of 192 million yuan of funds. There are major omissions in the company's 2022 annual report, 2023 semi-annual report, and 2023 annual report. The China Securities Regulatory Commission plans to order the company to make corrections, give a warning, and fine 4 million yuan; give a warning to Wang Hairong and fine 6 million yuan; give a warning and fine of 800,000 yuan to Wang Wei; give a warning and fine of 500,000 yuan to Yu Lanjian. Wang Hairong will also be banned from entering the securities market for 3 years.

ST Berry announced that the company and actual controller Wang Hairong received an “Advance Notice of Administrative Penalties” issued by the Hunan Regulatory Bureau of the China Securities Regulatory Commission due to suspected illegal disclosure of information. From June 2022 to September 2023, the company signed contracts with seven suppliers and paid a total of 192 million yuan in advance payments for equipment procurement. The actual controller, Wang Hairong, used advance payments to repay personal debts or lend to third parties, and is suspected of taking up a total of 192 million yuan of funds. There are major omissions in the company's 2022 annual report, 2023 semi-annual report, and 2023 annual report. The China Securities Regulatory Commission plans to order the company to make corrections, give a warning, and fine 4 million yuan; give a warning to Wang Hairong and fine 6 million yuan; give a warning and fine of 800,000 yuan to Wang Wei; give a warning and fine of 500,000 yuan to Yu Lanjian. Wang Hairong will also be banned from entering the securities market for 3 years.