Hainan Haide and controller probed by CSRC for disclosure violations

Hainan Haide Capital Management Co. (the "Company") announced on November 28, 2025, that it received "notices of case filing for investigation" from the China Securities Regulatory Commission (CSRC). The investigation concerns alleged violations of information disclosure laws and regulations. The CSRC has decided to investigate both the Company and its actual controller, Mr. Wang Guangxi.

The Company stated that a self-inspection revealed historical non-operational fund misappropriation, which was fully repaid by April 24, 2025. This issue had previously led to the Hainan Regulatory Bureau of the CSRC issuing a warning letter on April 28, 2025. Hainan Haide emphasized its commitment to rectifying the situation, having organized training sessions for relevant parties and personnel on corporate governance and information disclosure compliance.

Hainan Haide confirmed that its current production and operational activities remain normal and that the investigation is not expected to have a significant impact on its operations or management. The Company pledged full cooperation with the CSRC's investigation and committed to fulfilling its information disclosure obligations.