Changhong Technology receives regulatory warning from Shenzhen regulator

Shenzhen Changhong Technology (SZSE:300151) announced that it has received an administrative regulatory measure decision from the Shenzhen Securities Regulatory Bureau. The decision, a warning letter, was issued due to inaccuracies in the company's accounting practices, including share-based payment expense calculations, misaligned revenue and expense recognition, and inadequate impairment provisions for individual accounts receivable. The Shenzhen Securities Regulatory Bureau has determined that these accounting issues affected the accuracy of the company's related information disclosures, violating regulations. Key individuals, including Chairman and General Manager Li Huanchang, and Financial Director Zhou Guoquan, bear primary responsibility for these issues. The company stated that it is taking the matter seriously, will learn from the experience, and will strengthen its financial accounting practices and internal controls to ensure compliance and accurate information disclosure in the future.