As announced by Shandong Ruyi Woolen Garment Group (002193.SZ), the company recently received the decision from the Shandong Regulatory Bureau of the China Securities Regulatory Commission on issuing a warning letter to Shandong Ruyi Woolen Garment Group Co., Ltd., Qin Chenran, Meng Xia, and Xu Nacai (No. [2024]66).

According to reports, Shandong Regulatory Bureau found the company to be in violation of regulations during their supervision: on January 31, 2024, the company disclosed the "2023 Performance Forecast", expecting a net income loss of ¥190-285 million for the year 2023 belonging to the shareholders of the listed company; on April 27, 2024, the company disclosed the "2023 Performance Forecast Revision Announcement", which revised the net profit attributable to shareholders of the listed company for the reporting period to an expected loss of ¥580-650 million. On April 30, 2024, the company disclosed the "2023 Annual Report", the audited net income belonging to shareholders of the listed company for 2023 was a loss of ¥625 million. The significant difference between the first performance forecast and the audited results suggests inaccurate disclosure of information.

The above actions of the company violated Article 3, Paragraph 1 of the "Regulation on the Disclosure of Information of Listed Companies". According to Article 51 of the "Disclosure Regulation", Qin Chenran, as the company's Chairman, Meng Xia, as the company's General Manager, Xu Nacai, as the company's Chief Financial Officer, failed to fulfill their duties loyally and diligently, and are primarily responsible for the above-mentioned violation, which is a violation of Article 4 of the "Disclosure Regulation". According to Article 52 of the "Disclosure Regulation", Shandong Regulatory Bureau has decided to issue a warning letter as an administrative supervisory measure and record it in the securities and futures market integrity file database.