Winall Hi tech Seed

Anhui Quanyin High-Tech Seed Industry Co., Ltd. and three senior executives have been fined a total of 7.3 million yuan for inflating profit by 18.715 million yuan in the company's 2024 annual report. The Anhui Bureau of the China Securities Regulatory Commission found that the 2024 annual report failed to truthfully reflect the debt-credit relationship between the controlled subsidiary Quanyin Bio and a Guizhou-based company. Despite being aware of the counterparty's credit risk, the company did not make an individual provision for bad debts, resulting in an under-provision of 18.7151 million yuan for credit impairment losses and an overstatement of total profit by the same amount, accounting for 10.86 percent of the reported total profit for the period. The Anhui Bureau issued a warning to the company and imposed a fine of 3 million yuan. It also issued warnings and fines of 1.5 million yuan each to then-chairman Ying Minjie and vice-chairman and general manager Zhang Qin, and a warning and fine of 1.3 million yuan to board secretary and chief financial officer Zhang Qingyi. The company corrected the relevant matters on January 30, 2026, triggering other risk warnings but not meeting the criteria for mandatory delisting due to major violations.