Zhitong Finance App News, Zhongbei Communications (603220.SH) announced that the company recently received the “Decision on Measures to Issue Warning Letters to Zhongbei Communications Group Co., Ltd., Li Liubing, and Lu Nianqing” from the Hubei Regulatory Bureau of the China Securities Regulatory Commission (“Hubei Securities Regulatory Bureau”). The contents of the warning letter are now announced as follows:

Zhongbei Communications Group Co., Ltd., Li Liubing, Lu Nianqing: After investigation, Zhongbei Communications Group Co., Ltd. (hereinafter referred to as Zhongbei Communications or Company) had the following illegal facts: 1. On August 14 and August 20, 2023, the company published articles on the company's official WeChat account, disclosing the company's investment in computing power construction, including the investment scale, computing power planning, and construction progress of the Hefei Intelligent Computing Center project. Until August 28, the company only reviewed and disclosed the above information on the stock exchange website. This action by China Bay Communications violates Article 8 (1) of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182).

2. According to the company's announcement on October 11, 2023, the company discussed the investment situation of the company's East China base project with the Hefei Shushan Economic Development Zone Management Committee on September 22 and reached a preliminary agreement. On the evening of the same day, the WeChat account Shushan published “5.5 billion! An article on “Sino-Bay Communications East China Base Officially Settles in Shushan District, Hefei”. While investment matters have already been leaked, the company disclosed the “Notice of Abnormal Stock Trading Fluctuations” on September 25, stating that “as of the disclosure date of this announcement, there were no important matters or important information that should be disclosed”. The company did not disclose that it signed an investment promotion agreement with the Hefei Shushan Economic Development Zone Management Committee until October 11, and held a board of directors meeting on December 6 and a shareholders' meeting on December 25 to further consider the matter. The company's act violated the provisions of Article 3 (1), Article 22 (2) (1), and Article 24 (2) (2) (2)) of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182).

Li Liubing, chairman and general manager of the company, and Lu Nianqing, secretary of the board of directors, failed to perform their duties of diligence and due diligence in accordance with the provisions of Article 51 (2) of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182), and are mainly responsible for the above facts about the company. According to the provisions of Article 52 (3) of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182), our bureau decided to take administrative supervision measures to issue warning letters against Zhongbei Communications Group Co., Ltd., Li Liubing, and Lu Nianqing, and record them in the securities and futures market integrity file. The company and relevant responsible persons should fully learn lessons, strengthen the study of securities laws and regulations, effectively improve internal governance, and ensure the truth, accuracy and completeness of information disclosure.