ST Perry and related parties have received an administrative penalty decision from the Shaanxi Securities Regulatory Bureau, with total fines amounting to RMB 10.2 million. An investigation found that the company, in order to smooth its performance, delayed the recognition of sales revenue by tampering with goods acceptance documents. The then chairman, Liu Qiang, was aware of and condoned the practice, while the then director and general manager, Bai Jie, and the then chief financial officer, Guo Wei, planned and organized its implementation. The Shaanxi Securities Regulatory Bureau issued warnings and fines to the company and the related parties, and also issued warning letters regarding violations in the use of raised funds and stock trading during the window period.
Xian Peri Power Semiconductor CondCompany fined RMB 10.2 million for delayed revenue recognition and other violations.