Century Huatong: Update on 'other risk warning' status

Zhejiang Century Huatong Group (SZSE:002602) issued an update regarding the "other risk warning" applied to its stock on November 8, 2024, due to administrative penalties received from the China Securities Regulatory Commission (CSRC) relating to false records in its financial reports from 2018-2022. The company is currently working with its auditors to restate relevant financial statements and will seek to have the "other risk warning" removed 12 months after the penalty decision if it meets regulatory requirements. The company stated it would improve internal governance and enhance compliance. Century Huatong's operations remain normal and it will continue to disclose monthly progress reports on the financial restatement until the issue is resolved and an audit report is issued. The company is offering investor consultation via phone, email, and online platforms.