Zhitong Finance App News, Tianyu Information (300205.SZ) announced that on December 26, 2023, the company received the administrative supervision measures decision “Hubei Securities Regulatory Bureau's Decision on Issuing Warning Letter Measures against Wuhan Tianyu Information Industry Co., Ltd., Yan Chunyu, Dan Mingbo, Wan Jun, and Zhang Yanju” (“Warning Letter”) issued by the Hubei Regulatory Bureau (“Hubei Securities Regulatory Bureau”).

After investigation, the Hubei Securities Regulatory Bureau discovered that the company had the following irregularities:

In 2021, the company and Zhongke Hongzhang Investment (Shenzhen) Co., Ltd. and Nanchang Shuitian Investment Group Co., Ltd. (“Nanchang Shuitian”) jointly invested in the establishment of Shenzhen Changyu Investment Partnership (Limited Partnership) (“Changyu Investment”). The capital of Changyu Investment was used to acquire 15% of Chongqing Qianbao Technology Co., Ltd. (“Chongqing Qianbao”) from Yizanpu (Beijing) Technology Co., Ltd. (“Yizanpu”). On April 26, 2023, the company disclosed that due to Chongqing Qianbao's failure to meet the agreement commitments, Yizanpu used 126 million yuan to buy back 2.1% of Chongqing Qianbao's shares held by Changyu Investment.

In October 2023, Nanchang Shuitian sued the Nanchang Intermediate People's Court due to Chongqing Qianbao's failure to complete the agreement, according to the property share reservation and acquisition agreement signed between Shenzhen Shenchuang Intelligent Group Co., Ltd. (“Shenchuang Intelligence”), Wuhan Tongyu Investment Partnership (“Wuhan Tongyu”) and Nanchang Shuitian, and the guarantee agreement signed between Nanchang Shuitian and the company, to fulfill joint and several guarantees for the repurchase. The Nanchang Intermediate People's Court ruled to freeze some bank account balances of Tianyu Information and part of Tianyu Information's shares held by Wuhan.

According to reports, the company was involved in major lawsuits and guarantees were given to related parties. The controlling shareholder's additional 5.788 million shares of the company were frozen, and the obligation to disclose information was not fulfilled in a timely manner; the above acts violated relevant regulations. Yan Chunyu is the chairman and actual controller of the company, Wan Jun as the secretary of the company's board of directors, Zhang Yanju as the company's financial director, and Dan Mingbo, as the company's general manager, should be aware of the company's lawsuits, the reasons for the freezing of bank accounts, and the freezing of the company's shares held by controlling shareholders. They have failed to fulfill relevant obligations, and have acted diligently and conscientiously, in violation of regulations. According to regulations, the Hubei Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters against Tianyu Information, Yan Chunyu, Dan Mingbo, Wan Jun, and Zhang Yanju.