Zhitong Finance App News, Yicheng Xinneng (300080.SZ) announced that the company received the “Decision on Administrative Supervision Measures” ([2024] No. 37) issued by the Henan Regulatory Bureau of the China Securities Regulatory Commission (“Henan Securities Regulatory Bureau”) on May 10, 2024. The details are as follows:

“Henan Yicheng New Energy Co., Ltd., Wang Anle, Cao Deyu, Chang Xinghua, Wang Shangfeng, Yang Fan: After investigation, our bureau discovered that Henan Yicheng New Energy Co., Ltd. (hereinafter referred to as the company) had the following problems: 1. The subsidiary Kaifeng Pingmei New Carbon Material Technology Co., Ltd. (hereinafter referred to as Kaifeng Carbon) was not accurate in disclosing the implementation of its 2022 performance commitments. In April 2024, the company announced a correction to Kaifeng Carbon's implementation of its 2022 performance promise. The implementation of Kaifeng Carbon's 2022 performance promise disclosed by the company before the correction was inaccurate, in violation of the provisions of Article 3 (1) of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182). 2. Related transactions failed to comply with information disclosure obligations in a timely manner. In November 2023, Henan Zhongyu Materials Trading Co., Ltd. signed an all-vanadium liquid flow equipment procurement contract with the company's subsidiary Kaifeng Times New Energy Technology Co., Ltd., with a contract amount of 404 million yuan. The actual purchaser of the above equipment was an enterprise controlled by China Pingmei Shenma Holding Group Co., Ltd., and the related transaction constituted a related transaction. The company failed to comply with the shareholders' meeting review procedures and information disclosure obligations in a timely manner, in violation of the provisions of Article 3 (1) and Article 41 of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182). 3. The disclosure of performance forecast information is inaccurate. The net profit after deducting non-recurring profit and loss disclosed in the company's 2023 performance forecast is quite different from the information reported in the 2023 fiscal year, and the direction of profit and loss has changed. The disclosure of the company's 2023 performance forecast information is inaccurate, in violation of the provisions of Article 3 (1) of the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182).

Wang Anle, chairman of the company, Cao Deyu, general manager at the time, Chang Xinghua, secretary of the board of directors, Wang Shangfeng, financial director, and Yang Fan, then financial director, bear the main responsibility for the company's irregularities within the scope of their responsibilities. According to Article 52 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 the company and Wang Anle, Cao Deyu, Chang Xinghua, Wang Shangfeng, and Yang Fan, and record them in the securities and futures market integrity file. You should fully learn lessons, strengthen your study of securities laws and regulations, effectively improve the company's standardized operation level and quality of information disclosure, urge controlling shareholders to fulfill their performance compensation obligations in accordance with the law, and submit written rectification reports to our bureau within 30 days from the date of receipt of this decision.