ST Huawen and Three Responsible Persons Receive Warning Letters Over Fund Occupation and Undisclosed Related-Party Transaction

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ST Huawen and three responsible persons have been issued warning letters by the Hainan Securities Regulatory Bureau over non-operating fund occupation and failure to disclose a related-party transaction as required. An investigation found that in November 2020, a company representative surnamed Lin signed a strategic cooperation framework agreement, and 47 million yuan of the equity transfer payment made by Lin was ultimately used by the company's related party Beijing Xingying Stone Automobile Company Limited, constituting non-operating fund occupation by a related party. The funds were not returned until December 5, 2025. In addition, in August 2021, the company's subsidiary Hainan Huawen Minxiang Investment Company Limited purchased 15 Guoguang bonds through the Guomin Trust Qihang No. 15 trust plan at a price of 69.9636 yuan per bond, with a total amount of 30.01 million yuan. The issuer was the company's former controlling shareholder Guoguang Global Media Holding Company Limited, and the company failed to disclose this related-party transaction as required, only making a supplementary disclosure on July 30, 2026. The Hainan Securities Regulatory Bureau decided to take administrative regulatory measures by issuing warning letters against Huawen Group, then chairman and president Wang Fanghuai, then vice president Zhang Xiaoyong, then board secretary Jin Ri, and Xingying Stone Automobile, and to record this in the capital market integrity archive database. On the same evening, ST Huawen disclosed its semi-annual report, showing that in the first half of 2026 it achieved total operating revenue of 154 million yuan, up 13.39 percent year on year, and net profit attributable to shareholders of the listed company of 58.2815 million yuan, compared with a loss of 76.4088 million yuan in the same period last year, turning from loss to profit year on year.

Impact on assets 1

Others▼ · 1 stocks

Off-coverage companies 3

北京新蓥石汽车有限公司Private▼ Negative
Regulationrelevance

Related party received funds constituting non-operating fund occupation.

国广环球传媒控股有限公司Private▼ Negative
Regulationrelevance

Former controlling shareholder involved in undisclosed related-party transaction.

海南华闻民享投资有限公司Private▼ Negative
Regulationrelevance

Subsidiary involved in undisclosed related-party transaction.

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