Zhitong Finance App News, *ST Zhongli (002309.SZ) announced that the controlling shareholder of the company, Mr. Wang Baixing, and Jiangsu Zhongli Holding Group Co., Ltd. (“Zhongli Holdings”) received the “Jiangsu Securities Regulatory Bureau's Decision on Ordering Corrective Measures against Jiangsu Zhongli Group Co., Ltd., Jiangsu Zhongli Holding Group Co., Ltd., and Wang Baixing” from the China Securities Regulatory Commission on May 10, 2024.

According to Chapter 9, Section 4, of the “Shenzhen Stock Exchange Stock Listing Rules (2024 Revision)”, if the company fails to clear up 1,805 billion yuan (including 112 million yuan of illegal guarantees) of the occupied capital within six months in accordance with the correction order, the Shenzhen Stock Exchange will suspend trading of the company's stock. If the rectification is not completed within two months after the suspension, the Shenzhen Stock Exchange will issue a delisting risk warning for the company's stock trading. If the rectification has not been completed within two months thereafter, the Shenzhen Stock Exchange will decide to terminate the company's stock listing transaction.