Zhitong Finance App News, Xu Ji Electric (000400.SZ) issued an announcement. The company and relevant personnel recently received the Decision on Administrative Supervision Measures ([2024] No. 33) issued by the Henan Regulatory Bureau of the China Securities Regulatory Commission.

After investigation, Xuji Electric Co., Ltd. committed the following irregularities: 1. Information disclosure management was inadequate. The company's “Information Disclosure Management System” is incomplete, the internal reporting system for important information is not in place, and internal information reporting obligations have not been fulfilled in a timely manner for some sales projects. 2. Internal control management is not in place. The company's internal control system for contract management, seal management, etc. is inadequate, execution is not in place, some contract signing dates, contract numbers, etc. are incomplete, approval and signing procedures have not been strictly followed, and printing procedures for some contracts have not been strictly enforced. The accounting management system is not implemented in place.

According to section 52 of the “Administrative Measures on Information Disclosure of Listed Companies”, the Henan Securities Regulatory Bureau decided to take administrative supervision measures to order corrections against the company, take administrative supervision measures to issue warning letters against Sun Jiqiang, Xu Tao, Wang Fei, and Wan Guilin, and record them in the securities and futures market integrity file.