Longping Hi-Tech ordered to rectify disclosure failures by Hunan regulator

Yuan Longping High-Tech Agriculture (Longping Hi-Tech) and its related personnel received a decision from the Hunan Securities Regulatory Bureau on November 28, 2025, ordering rectification and supervisory interviews. The decision highlighted that Longping Hi-Tech failed to disclose performance commitments and their fulfillment status in its annual reports from 2021 to 2024 related to a supplementary agreement for the equity transfer of Hunan Longping Hi-Tech Farmland Development Co., Additionally, similar omissions were found in its 2023 and 2024 annual reports concerning an equity transfer agreement for Fujian Keli Seed Industry Co.

The Hunan Securities Regulatory Bureau determined that these omissions violate several regulations, including the "Administrative Measures for Information Disclosure by Listed Companies" (2021 Revision) and "Regulatory Guidance No. 4 for Listed Companies—Commitments by Listed Companies and Related Parties" (2022 and 2025 versions). The company's chairman Liu Zhiyong and board secretary Hu Bo are primarily responsible.

Longping Hi-Tech is required to submit a rectification plan within 30 days and complete the rectification within three months. A written rectification report must be submitted to the Hunan Securities Regulatory Bureau within 15 working days after completion. The individuals responsible must attend supervisory interviews within 10 working days. The company stated these issues stem from historical problems identified during its efforts to streamline operations and enhance corporate governance, and it will take effective measures to address them.