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Beijing Lanxum faces penalty for disclosure violations

June 30, 2025 at 05:25 PM UTCBy FilingReader AI

Beijing Lanxum Technology (SZSE:300010) has received an "Administrative Penalty Advance Notice" from the Beijing Regulatory Bureau of the CSRC, concerning violations related to information disclosure. The notice alleges that between July 2022 and March 2023, the company failed to disclose five legal proceedings involving Lanxum Technology and its subsidiaries, including the "Chabuchaer Xibo case" and "Defeng Advertising case" with a total of CNY12.042 million. Additionally, the company failed to disclose the "Zhang Ying case", "Yue Le Wan case" and "Zhangjiakou case", with a total of CNY123.616 million, leading to a material omission in the 2023 semi-annual report. The CSRC intends to fine the company CNY2.3 million and impose penalties on relevant executives, including then-Chairman Dou Xin and then-Board Secretary Chen Zhao. The company asserts that current operations remain normal and it doesn't face delisting risks.

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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