Guanghua Sci-Tech secretary censured for early disclosure of sensitive data

Guangdong Guanghua Sci-Tech and its board secretary, Yang Rongzheng, have been issued a warning letter by the China Securities Regulatory Commission's Guangdong Bureau. The regulatory action stems from a violation of information disclosure regulations.

The violation occurred on November 19, 2024, when Yang Rongzheng, during an online exchange meeting with a broker analyst, disclosed unreleased information regarding the company's lithium sulfide capacity and its estimated 2024 financial performance. This information, deemed to potentially significantly impact the company's stock trading prices, was not formally disclosed until December 6, 2024, after it had already circulated online.

The Guangdong Securities Regulatory Bureau has mandated the company and Yang Rongzheng to promptly rectify these issues within 30 days. They are required to submit a report detailing the corrective actions and internal accountability measures taken, with a copy to the Shenzhen Stock Exchange. The company has stated that this administrative measure will not disrupt its normal operations.