First venture announcement. A venture capital bank, a wholly-owned subsidiary, received an “Administrative Penalty Decision” from the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission due to failure to diligently and conscientiously supervise the Hongda Industrial Convertible Bond Project. A venture capital bank was confiscated from the sponsorship business revenue of RMB 4.245,800 and fined RMB 127.35,800. Sponsor representatives Song Yao and Fan Benyuan were each warned and fined 1.5 million yuan.

First venture announcement. A venture capital bank, a wholly-owned subsidiary, received an “Administrative Penalty Decision” from the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission due to failure to diligently and conscientiously supervise the Hongda Industrial Convertible Bond Project. A venture capital bank was confiscated from the sponsorship business revenue of RMB 4.245,800 and fined RMB 127.35,800. Sponsor representatives Song Yao and Fan Benyuan were each warned and fined 1.5 million yuan.