Yuanwang Technology (002291.SZ) issued an announcement. The company recently received the “On Foshan...” issued by the Guangdong Securities Regulatory Bureau
According to the Zhitong Finance App, Yuanwang Technology (002291.SZ) issued an announcement. The company recently received the “Decision on Measures to Issue Warning Letters against Foshan Yuanwang Technology Co., Ltd., Yu Hongtao, Xie Rudong, Li Gang, He Jianfeng, and Ma Chao” ([2023] No. 164) issued by the Guangdong Securities Regulatory Bureau. After investigation, the company had irregularities: the book value of the company's inventory from 2021 to 2022 did not match reality; improper recognition of some income from 2019 to 2020; inflated revenue, profit and accounts receivable; untimely disclosure of foreign financial support; failure to promptly disclose guarantees for the company and subsidiaries; and failure to promptly disclose joint investments with professional investment institutions.