Xinyangfeng (000902.SZ) and related personnel received a warning letter from the Hubei Securities Regulatory Bureau

Zhitong Finance App News, Xinyangfeng (000902.SZ) issued an announcement. The company recently received the “Hubei Securities Regulatory Bureau's Decision on Issuing Warning Letter Administrative Supervision Measures against Xinyangfeng Agricultural Technology Co., Ltd., Yang Caixue, Huang Bin, and Yang Xiaohong” (“Warning Letter”) issued by the Hubei Regulatory Bureau of the China Securities Regulatory Commission (“Hubei Securities Regulatory Bureau”).

According to reports, due to insufficient revenue recognition basis for some trade operations, the company confirmed additional revenue of 153 million yuan, 111 million yuan, and 15 million yuan respectively from 2018 to 2020. The disclosure of the company's relevant annual financial information was inaccurate. The above acts are in violation of relevant regulations. Yang Caixue, then chairman of the company, Huang Bin, CEO, and Yang Xiaohong, financial director, failed to perform their duties of diligence and due diligence and are mainly responsible for the company's irregularities. The Hubei Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters against the company, Yang Caixue, Huang Bin, and Yang Xiaohong, and include them in the securities and futures integrity file.