Zhitong Finance App News, Yibin Paper (600793.SH) announced that on January 3, 2024, the company received the “Decision on Administrative Supervision Measures” ([2023] No. 80) and “Decision on Issuing Warning Letter Measures against Yibin Paper Co., Ltd., Chen Hong and Xing Zhimin” issued by the Sichuan Regulatory Bureau of the China Securities Regulatory Commission. The “Decision on Administrative Supervision Measures” is now announced as follows:

“Yibin Paper Co., Ltd., Chen Hong, Xing Zhimin: After investigation, on April 20, 2023, Yibin Paper disclosed the “Notice on Confirming Daily Related Transactions in 2022 and Expected Daily Related Transactions in 2023", confirming that the bamboo procurement business with Yibin Shenghexing Trading Co., Ltd. in 2022 was a related transaction, amounting to 39.3811 million yuan, accounting for 6.27% of the company's audited net assets at the end of 2021. The above related transactions should be reviewed, approved and disclosed by the shareholders' meeting, but the company failed to comply with the relevant review procedures and promptly disclosed. On August 30, 2023, the company disclosed the “Notice on Adding Related Parties and Increasing the 2023 Daily Related Transaction Forecast”, which recognized the bamboo procurement business with Sichuan Putian Packaging Co., Ltd. from January to June 2023 as a related transaction, with an amount of 5.7573 million yuan, and added related parties and increased the estimated amount of daily related transactions for 2023, accounting for 0.87% of the company's audited net assets at the end of 2022. The above related transactions failed to comply with board review procedures in accordance with regulations and were promptly disclosed.

The above acts violate the relevant provisions of Article 3 (1) and Article 41 of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182). Chen Hong, as the chairman of the company and general manager at the time, and Xing Zhimin, as the secretary of the board of directors and the financial director at the time, failed to act diligently and conscientiously in accordance with the provisions of Article 4 of the “Administrative Measures on Information Disclosure of Listed Companies”, and bears the main responsibility for these irregularities. According to the relevant provisions of Articles 51 and 52 of the “Administrative Measures on Information Disclosure of Listed Companies”, our bureau decided to take administrative supervision measures to issue warning letters against Yibin Paper, Chen Hong, and Xing Zhimin, and record them in the securities and futures market integrity files. The company and relevant personnel should carefully learn the lessons, effectively strengthen the study of securities market laws and regulations as well as the company's internal management, standardize the implementation of related transactions, and prevent such incidents from happening again. Please submit a rectification report to our bureau and copy it to the Shanghai Stock Exchange within 30 days from the date of receipt of this decision.