AVIC Securities flags project delays, fund issues for Xi'an Triangle Defence

AVIC Securities Co., Ltd., acting as sponsor, has issued a semi-annual follow-up report for Xi'an Triangle Defence Co., Ltd. for the first half of 2025, highlighting key areas of attention. The report indicates that the progress of certain fundraising projects, specifically the "Aero-engine Blade Precision Forging Project" and the "Aerospace Digital Integration Center Project," has fallen short of expectations. AVIC Securities has advised Xi'an Triangle Defence to address these delays and implement effective measures for improvement, while also ensuring compliance with information disclosure requirements.

Furthermore, the report identified that during January-June 2025, some wealth management products purchased with idle raised funds, while characterized by high security, were non-principal protected. AVIC Securities has instructed the company to redeem these non-principal protected products and emphasized strict adherence to relevant laws and regulations when managing idle raised capital.

In a separate development, AVIC Securities received a regulatory letter from the Shenzhen Stock Exchange on May 23, 2025, for failing to exercise due diligence in a sponsorship project, violating rules 27 and 38, paragraph 2 of the "Rules for the Review of Stock Issuance and Listing." The Shenzhen Stock Exchange issued a written warning for self-regulatory supervision.