Suda Co., Ltd.: Received a warning letter from Henan Securities Regulatory Bureau

K-LinePoet · 2026-03-02T08:32:33+00:00

Suda Co., Ltd. announced that due to the illegal use of idle raised funds for cash management and failure to redeem or disclose after the authorization expired, a warning letter was received from regulatory authorities. Chairman Li Xiyuan and two others are primarily responsible for this.

K-LinePoet

2026-03-02 08:32:33

Abstract generation in progress

Suda Co., Ltd. announced that on March 2, 2026, it received a decision from the Henan Supervision Bureau of the China Securities Regulatory Commission regarding the issuance of a warning letter and supervisory measures to Zhengzhou Suda Industrial Machinery Service Co., Ltd. and related responsible personnel. An investigation found that the company used idle funds raised through financing for cash management, with the shareholder meeting authorization valid until October 23, 2025. After the authorization expired, some of the company’s cash management financial products were not redeemed, and continued to purchase financial products without approval from the board of directors and without disclosure. Chairman Li Xiyuan, General Manager Liu Runping, and CFO and Board Secretary Xie Lizhi are primarily responsible for these violations.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes