Starlight Agricultural Machinery has received a regulatory warning from the Shanghai Stock Exchange and a warning letter from the Zhejiang Securities Regulatory Bureau due to inaccurate information disclosures in its first-quarter, semi-annual, and third-quarter reports for 2025. The company previously changed the revenue recognition method for its structural parts and project-based businesses from the gross method to the net method, resulting in a reduction of both operating revenue and operating costs by 21.5635 million yuan in the first quarter of 2025, by 46.4888 million yuan in the first half, and by 68.1812 million yuan in the first three quarters. The Zhejiang Securities Regulatory Bureau and the Shanghai Stock Exchange determined that the company and the responsible individuals violated information disclosure regulations, and issued warning letters or regulatory warnings to then-chairman He Dejun, general manager Zheng Bin, and chief financial officer Wu Haijuan. The company is still subject to other risk warnings due to false records in its 2023 annual report.
Xingguang Agricultural MachRegulatory warnings for inaccurate disclosures in financial reports
