Xinyangfeng announced that due to insufficient revenue recognition basis for some trade operations, the company and related personnel confirmed additional revenue of 153 million yuan, 111 million yuan, and 15 million yuan respectively from 2018 to 2020, in violation of the relevant provisions of the “Administrative Measures on Information Disclosure of Listed Companies”. The Hubei Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters against the company, then-chairman Yang Caixue, CEO Huang Bin, and financial director Yang Xiaohong, and include them in the securities and futures integrity file. The company and relevant personnel will carefully learn lessons, strengthen the study of securities laws and regulations, strengthen the management of information disclosure matters, and improve the quality of financial information disclosure.

Xinyangfeng announced that due to insufficient revenue recognition basis for some trade operations, the company and related personnel confirmed additional revenue of 153 million yuan, 111 million yuan, and 15 million yuan respectively from 2018 to 2020, in violation of the relevant provisions of the “Administrative Measures on Information Disclosure of Listed Companies”. The Hubei Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters against the company, then-chairman Yang Caixue, CEO Huang Bin, and financial director Yang Xiaohong, and include them in the securities and futures integrity file. The company and relevant personnel will carefully learn lessons, strengthen the study of securities laws and regulations, strengthen the management of information disclosure matters, and improve the quality of financial information disclosure.