Zhongjian Technology announced on the evening of August 31 that the company and three senior executives were fined a total of 3.9 million yuan by the Zhejiang Securities Regulatory Bureau for illegal information disclosure. The announcement showed that the company disclosed the signing of a cooperation memorandum with a leading company, but as of April 24, 2025, the memorandum had not been completed, constituting a false record. The Zhejiang Securities Regulatory Bureau ordered the company to correct the issue, issued a warning, and fined it 1.5 million yuan, while Wu Minggen, Dai Yongbin, and Bao Jialong were fined 1 million yuan, 800,000 yuan, and 600,000 yuan respectively. On the same day, the Shenzhen Stock Exchange issued a notice of criticism to the company and relevant parties, and recorded it in their integrity files. The company's previously disclosed 2026 semi-annual report showed that first-half operating revenue was 701 million yuan, up 39.50 percent year on year, while net profit was a loss of 7.61 million yuan, turning from profit to loss. As of the close on August 31, the company's stock price was 77.81 yuan per share, with a total market value of 14.4 billion yuan, down more than 41 percent from its high on September 17, 2025.
Zhejiang Zhongjian Technology Co LtdFined 3.9 million yuan for false information disclosure, with regulatory warnings and criticism.
