Shandong Mining Machinery Group's share placement review suspended by SZSE

Shandong Mining Machinery Group Co., Ltd. (SZSE:002526) announced on December 22, 2025, that the Shenzhen Stock Exchange (SZSE) has suspended its review of the company's private placement of shares. The application, initially accepted on March 21, 2025, was put on hold due to an administrative penalty issued by the China Securities Regulatory Commission's Jiangsu Regulatory Bureau against Yongtu Certified Public Accountants (Special General Partnership). This penalty prohibits the accounting firm from engaging in securities service activities.

According to the "Shenzhen Stock Exchange Listing and Review Rules for Listed Companies," Article 20, the SZSE consequently suspended the review of Shandong Mining Machinery Group's share issuance. The company clarified that this suspension is unrelated to its own operations and does not affect its normal production.

Shandong Mining Machinery Group plans to appoint a new accounting firm and will apply to resume the review once the conditions for reinstatement are met. The company emphasized that the final approval of the private placement, including the registration decision from the China Securities Regulatory Commission, remains uncertain. It will continue to disclose progress to investors.