ST Jinhua Chairman Xing Yajiang has been fined a total of 9 million yuan by the Shaanxi Regulatory Bureau of the China Securities Regulatory Commission for failing to disclose changes in shareholding as required by law and causing false records in periodic reports. After the market close on September 4, the company announced that Xing Yajiang received the administrative penalty decision on September 3, in which the regulatory bureau ordered him to make corrections, issued a warning, and imposed a fine. The investigation showed that Xing Yajiang, through a company under his actual control, entrusted Xinyu Xingpeng to participate in a judicial auction, held shares on his behalf, and reduced a stake equivalent to 2.25 percent of the company's total share capital, while failing to fulfill information disclosure obligations as required. This caused false records in the company's 2022 semi-annual report, 2022 annual report, 2023 semi-annual report, and 2023 annual report. Previously, Xing Yajiang was fined 3.5 million yuan in December 2025 for failing to report in a timely manner that he had been released on bail pending trial. On the same day, the company also announced plans to reduce its holdings of repurchased shares by no more than approximately 7.47 million shares, accounting for 2 percent of the total share capital. In the first half of 2026, ST Jinhua reported operating revenue of 246 million yuan, up 1.81 percent year on year, and net profit after deducting non-recurring items of approximately 9.19 million yuan, up 35.29 percent year on year.
Ginwa Enterprise Group IncChairman fined for disclosure violations causing false records in periodic reports.
