ST Xingnong has received a warning letter from the Zhejiang Securities Regulatory Bureau and a regulatory warning from the Shanghai Stock Exchange after accounting error corrections in its first-quarter, half-year, and third-quarter reports for 2025 led to inaccurate information disclosures. The company previously changed the revenue recognition method for its structural parts business and project-based business from the gross method to the net method, reducing operating revenue and operating costs in the three periodic reports by 21.56 million yuan, 46.49 million yuan, and 68.18 million yuan respectively. The Zhejiang Securities Regulatory Bureau decided to issue warning letters to the company and its chairman He Dejun, general manager Zheng Bin, and chief financial officer Wu Haijuan, and record the matter in their integrity files. The Shanghai Stock Exchange also issued regulatory warnings to the same parties. The company has reported losses for six consecutive years and expects a net loss attributable to the parent company of 65 million to 95 million yuan in the first half of 2026, with the loss widening year-on-year.
Xingguang Agricultural MachReceived regulatory warnings for inaccurate financial disclosures and accounting errors.
