ST Jin Hua disclosed that its chairman, Xing Yajiang, has been ordered by the Shaanxi Securities Regulatory Bureau to make corrections, given a warning, and is proposed to be fined a total of 9 million yuan for suspected illegal information disclosure. The 2026 semi-annual report released the same day shows that net profit attributable to the parent company plunged 87.25% year on year to just 790,000 yuan. The Shaanxi bureau found that Xing Yajiang, through Juchanghe Trading, a company he actually controls, arranged for Xinyu Xingpeng to participate in the judicial auction of Jin Hua shares and to hold shares on its behalf while reducing its stake by 2.25%, and that he failed to fulfil the statutory notification and announcement obligation when the combined shareholding change with concert party Xing Boyue exceeded 1%, causing false records in shareholder information in the company's 2022 and 2023 periodic reports. A fine of 3.5 million yuan is proposed for failing to notify and announce the shareholding change, and a fine of 5.5 million yuan is proposed for causing false records in the periodic reports. ST Jin Hua said the penalty involves only the chairman personally, will not have a material impact on the company's daily production and operations, and does not trigger mandatory delisting for major violations. In April this year, Jin Hua shares had its stock abbreviation changed to ST Jin Hua after ShineWing Certified Public Accountants issued an adverse opinion on the company's internal control over financial reporting for 2025. Since being labelled on 30 April, the company's stock has hit four consecutive daily limit-downs, and the share price has continued to fall since then, closing at 4.79 yuan on 21 August, down about 36% for the year.
Ginwa Enterprise Group IncChairman fined for illegal disclosure and false records; net profit plunges 87%
