Henan Yicheng warned by regulator; shareholder plans to sell

Henan Yicheng New Energy (SZSE:300080) has received a warning letter from the Henan Regulatory Bureau of the China Securities Regulatory Commission (CSRC) for violations related to inaccurate information disclosure in its 2024 third-quarter report and its 2024 earnings forecast. The regulator cited inaccuracies in accounting treatment related to a significant asset restructuring involving the sale of its stake in Pingmei Longji New Energy and the purchase of assets from Henan Pingmei Longji Photovoltaic Materials. The company's initial 2024 profit forecast also significantly deviated from actual results, with the final net loss being wider than originally projected.