ST Jiaao's financial chief and board secretary Wu Yimin has stepped down from the role of financial chief due to work adjustments, and will continue to serve as board secretary after the resignation. Wu Yimin's original term was set to run until August 16, 2026, making this an early departure. Previously, the Zhejiang Securities Regulatory Bureau issued a warning to Wu Yimin and imposed a fine of 2 million yuan, after the company's 2022 and 2023 annual reports were found to contain false records. On the same day, ST Jiaao's board appointed Zhao Ning as the company's new financial chief.
Zhejiang Jiaao EnprotechCompany's 2022 and 2023 annual reports contained false records, leading to regulatory warning and fine for the departing financial chief.