Shanxi Xishan Coal independent director fined for past disclosure breaches

Shanxi Xishan Coal & Electricity Power Co., Ltd. recently announced that its independent director, Li Yumin, received an advance notice of administrative penalty from the China Securities Regulatory Commission (CSRC) Shanxi Regulatory Bureau. The penalty stems from alleged illegal information disclosure during Li's tenure as an independent director at Taiyuan Heavy Industry Co., Ltd.

According to the announcement, the CSRC Shanxi Regulatory Bureau issued an "Advance Notice of Administrative Penalty" to Taiyuan Heavy Industry. Concurrently, the Bureau proposes to issue a warning to Li Yumin and impose a fine of yuan 100,000.

Shanxi Xishan Coal & Electricity Power clarified that the administrative penalty against Li Yumin is unrelated to the company and will not impact its daily operations. The company and its board of directors affirm that the information disclosed is true, accurate, and complete, without any false records, misleading statements, or major omissions. The announcement was issued by the board of directors of Shanxi Xishan Coal & Electricity Power Co., Ltd. on October 31, 2025.