Jiawei Renewable Energy: Shareholder fails to uphold pledge

Jiawei Renewable Energy [SZSE:300317] announced that its controlling shareholder, Fuyang Quanfu Enterprise Management, received a warning letter from the Shenzhen Securities Regulatory Bureau for failing to fulfill its shareholding increase plan. In September 2024, Fuyang Quanfu pledged to increase its holdings in Jiawei Renewable Energy by no less than CNY 60 million within six months. The stated intent was a demonstration of confidence in the company's future and its value. However, as of the March 6, 2025 deadline, the promised increase had not materialized. Jiawei Renewable Energy reports that Fuyang Quanfu failed to procure the necessary funding, despite initially making an effort. This failure constitutes a breach of commitment under regulatory guidelines. Fuyang Quanfu has expressed its regret. The company also assures investors that the warning will not affect Jiawei Renewable Energy's operations.