Sayyas Windows announced that the company, its actual controller Bian Shuping, chairman and general manager Bian Keren, and board secretary Xing Youwei have been issued a warning letter by the Heilongjiang Securities Regulatory Bureau and had the matter recorded in their integrity files for failing to disclose a control transfer agreement as required. In August 2025, Bian Shuping signed a strategic cooperation agreement and supplementary memorandum with Shenzhen Jin'ao Haokun Enterprise Management involving share transfers and control transfer, which constituted a material event. However, Bian Shuping did not inform the company or cooperate in fulfilling information disclosure obligations, the company also failed to perform its disclosure duties, and Bian Keren and Xing Youwei did not fulfill their responsibilities diligently. Regarding the agreement dispute, Jin'ao Haokun has applied for arbitration with the Shanghai International Economic and Trade Arbitration Commission, and Bian Shuping has engaged a law firm to respond and filed a counterclaim. The company is not a party to the agreement or the arbitration and will continue to monitor developments and fulfill its information disclosure obligations.
Harbin Sayyas Windows Co. Ltd. ACompany and executives received warning letter for failing to disclose control transfer agreement, violating securities regulations.