Jinghua Micro and Chairman Lv Hanquan were issued warning letters due to multiple violations

On October 14, www.china.com.cn (reporter Zhang Zengyan), Jinghua Micro announced that due to a number of violations, the company and its chairman Lu Hanquan, general manager Luo Weishao, then chief financial officer and secretary Zhou Rongxin and other responsible persons were issued a warning letter by Zhejiang Securities Regulatory Bureau.

During the on-site inspection, Zhejiang Securities Regulatory Bureau found that Jinghua Microenterprise had the following problems: First, the company's business income, profit and other related information disclosure in the 2022 semi annual report and the third quarterly report was inaccurate; Second, the disclosure of capital transactions between the company and its related parties and Jinyun Zhihe Electronic Technology Co., Ltd. in the prospectus of the company's initial public offering was inaccurate; Third, the review procedure of cash management of raised funds of the Company was not standardized, and after review, cash management exceeded the approved limit; Fourth, the company's financial seal was not used in accordance with the company's system.

To sum up, the above behaviors violate Article 3 of the Administrative Measures for Information Disclosure of Listed Companies (CSRC Order No. 182), Article 8 of the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds of Listed Companies (CSRC Announcement [2022] No. 15), and Article 2 of the Corporate Governance Standards for Listed Companies (CSRC Announcement [2018] No. 29). At the same time, Lu Hanquan, the chairman of Jinghua Micro, Luo Weishao, the general manager, and Zhou Rongxin, the then chief financial officer and secretary of the board of directors, also violated the relevant regulations and were mainly responsible for the corresponding violations.

According to Article 52 of the Administrative Measures for Information Disclosure of Listed Companies (CSRC Order No. 182), Zhejiang Securities Regulatory Bureau decided to issue warning letters to Jinghuawei, Lv Hanquan, Luo Weishao and Zhou Rongxin respectively and record them in the integrity file of the securities and futures market. At the same time, it is required to learn lessons carefully, strengthen the study of securities laws and regulations, improve the standard operation level of the company and the quality of information disclosure, and submit a written rectification report within 10 working days from the date of receiving the letter of decision to prevent such violations in the future.

key word: Jinghua Luo Wei company listed company