Yunnan Energy New Material ordered to rectify fund management
Yunnan Energy New Material (SZSE:002812) announced that it has received an administrative regulatory measure decision from the Yunnan Regulatory Bureau of the China Securities Regulatory Commission (CSRC). The decision follows an investigation that revealed deficiencies in the company’s management and use of raised capital, including inadequate internal controls, improper use of non-designated accounts for payments, and a failure to properly disclose information regarding the replacement of self-raised funds in investment projects. The Yunnan Regulatory Bureau has ordered the company to rectify these issues and submit a written report within 30 days. Yunnan Energy New Material stated it would take the decision seriously, improve its governance, and enhance its compliance with relevant laws and regulations. The company affirmed that its normal production and operations remain unaffected.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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