Maxscend shareholder warned for late disclosure by Jiangsu securities regulator

Wuxi Huizhi United Investment Partnership, a shareholder of Jiangsu Maxscend Microelectronics Co., Ltd., has received a warning letter from the China Securities Regulatory Commission's Jiangsu Bureau. The penalty, issued on September 12, 2025, stems from the shareholder's failure to disclose a 1% change in its stake in Maxscend Microelectronics between September 28, 2022, and December 6, 2024. The disclosure was delayed until August 8, 2025.

This lapse violates Article 13, Paragraph 3 of the "Measures for the Administration of the Takeover of Listed Companies." As a result, Wuxi Huizhi has been issued a warning letter and its actions will be recorded in the securities and futures market's integrity file, as per Article 75 of the same measures.

The shareholder attributed the oversight to a misunderstanding of the relevant rules concerning listed company acquisitions. Maxscend Microelectronics stated that this regulatory action is not directed at the company itself and will not impact its normal operations. The company will continue to ensure compliance with disclosure obligations.