Zhitong Finance App News, Innote (688253.SH) announced that the company recently received the “Decision on Measures Issuing Warning Letters against Beijing Inuote Biotechnology Co., Ltd. and Zhao Xiujuan” (“Warning Letter”) issued by the Beijing Supervisory Authority of the China Securities Regulatory Commission (“Beijing Securities Regulatory Bureau”).
After investigation, the company had the following irregularities: 1. Irregular management of funds raised. The cash management balance of the company's fund-raising special account from September 2022 to March 2023 repeatedly exceeded the authorized usage limit by 29,196 million yuan. 2. The establishment of a fund-raising system is not standardized. The company's “Administrative Measures on the Use of Raised Funds” only stipulate the use of raised funds in principle, and there is no clear authority for hierarchical approval.
According to the announcement, the above actions of the company violated relevant regulations; as the company's financial director, Zhao Xiujuan failed to be diligent and conscientious, urged listed companies to regulate the use of funds raised, and violated relevant regulations. The Beijing Securities Regulatory Bureau decided to take administrative supervision measures to issue a warning letter against the company and the above personnel.