Royal Group and executives fined for disclosure violations

Royal Group (SZSE:002329) and several of its executives have been penalized by the China Securities Regulatory Commission (CSRC) Guangxi Bureau for violating information disclosure regulations. The CSRC found that Royal Group failed to disclose a supplementary agreement related to a CNY 310 million fund investment in its 2019, 2020, 2021, and 2022 annual reports. As a result, the CSRC has issued a warning and a CNY 4 million fine to Royal Group. Additionally, Chairman Huang Jiadi was fined CNY 2.5 million, Secretary of the Board Wang Wanfang was fined CNY 2 million, former Director Yang Hongjun was fined CNY 1.5 million, and Chairman of the Supervisory Board Shi Aiping was fined CNY 500,000. Royal Group has stated that it does not believe the violations will trigger a delisting. The company says it will improve its compliance and information disclosure practices.