Gelonghui, December 11 | The Zhejiang Securities Regulatory Bureau reported that after investigation, Zhou Jianyong, Zhang Limin, Chen Zhangwang, and Wu Jianjun acted as key managers at Startup Co., Ltd. (hereinafter referred to as Startup Co., Ltd.), the company committed the following illegal acts. There are false records and major omissions in the company's regular reports, and there is significant false content in publicly issued documents. The company inflated operating income, operating costs, and total profit by fictitious procurement and sales operations, etc., and there were false records and major omissions in regular reports. Among them, in 2018, there was an inflated operating income of 69 million yuan, inflated operating costs of 46 million yuan, and total inflated profit of 23 million yuan; in 2019, inflated operating income of 182 million yuan, inflated operating costs of 116 million yuan, and total inflated profit of 66 million yuan; and in 2020, inflated operating income of 111 million yuan, inflated operating costs of 70 million yuan, and total inflated profit of 41 million yuan. The company's stock brokerage was not disclosed to the public. In December 2016, four people, including Zhang Limin and Liang Jinjin, the then chairman of Start-up Co., Ltd. and the former actual controller, signed separate “Equity Brokerage Agreements”, agreeing that they would hold the shares of the four-person company on their behalf, and that no transfer will be processed for the time being. During the stock brokerage period, the company did not disclose stock brokerage conduct in the 2018 and 2019 annual reports. The Zhejiang Securities Regulatory Bureau decided to take supervisory and administrative measures to issue separate warning letters for start-up stocks and related personnel, and record them in the securities and futures market integrity file.