*ST Quanwei has been fined 10.6 million yuan by the China Securities Regulatory Commission for illegal information disclosure. The company announced that it received an administrative penalty decision from the Guangdong Securities Regulatory Bureau. For failing to disclose related-party transactions and the sealing of major assets as required, the company was ordered to correct the violations, given a warning, and fined 10.6 million yuan. Actual controller Chu Yifan was given a warning and fined 15.5 million yuan. Other responsible persons Lei Xinyue, Zhang Qingfeng, and Li Hui were fined 2.8 million yuan, 1.6 million yuan, and 200,000 yuan respectively. The company stated that the violations do not trigger mandatory delisting for major offenses, but there is uncertainty over whether its restructuring application will be accepted.
Guangdong Guoli Sci&Tech Co Ltd Class ACSRC fined the company for information disclosure violations, which may affect restructuring application.
