Guangdong Guoli Sci&Tech Co Ltd Class A

Guangdong Quanwei Technology Co., Ltd. researches, develops, produces, sells, and provides technical services for polymer materials and products in China and internationally. Its offerings include EVA/TPR environmentally friendly materials, modified engineering plastics, and RB rubber and plastic materials, as well as finished shoes, smart electronic products, and new materials for new energy vehicles. These products are used in sports and leisure shoes, sports equipment, electronic components, home appliances, automotive parts, smart homes, and smart education, among other fields. The company was formerly known as Guangdong Guoli Sci and Tech Co., Ltd. and changed its name to Guangdong Quanwei Technology Co., Ltd. in March 2023. It was incorporated in 2002 and is headquartered in Shanghai, China.

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*ST Quanwei Fined 10.6 Million Yuan by CSRC for Information Disclosure Violations

*ST Quanwei has been fined 10.6 million yuan by the China Securities Regulatory Commission for illegal information disclosure. The company announced that it received an administrative penalty decision from the Guangdong Securities Regulatory Bureau. For failing to disclose related-party transactions and the sealing of major assets as required, the company was ordered to correct the violations, given a warning, and fined 10.6 million yuan. Actual controller Chu Yifan was given a warning and fined 15.5 million yuan. Other responsible persons Lei Xinyue, Zhang Qingfeng, and Li Hui were fined 2.8 million yuan, 1.6 million yuan, and 200,000 yuan respectively. The company stated that the violations do not trigger mandatory delisting for major offenses, but there is uncertainty over whether its restructuring application will be accepted.

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