Netac Technology (300042.SZ) announced that the company recently received the "Shenzhen Securities Regulatory Bureau's Decision on Ordering Shenzhen Netac Technology Co., Ltd. to Correct Its Conduct" issued by the Shenzhen Securities Regulatory Bureau.
According to a report from Zhitong Finance APP, Netac Technology (300042.SZ) announced that the company recently received the "Decision on Ordering Shenzhen Netac Technology Co., Ltd. to Correct Its Conduct" and the "Decision on Issuing a Warning Letter to Zhou Fuchi and Others" issued by the Shenzhen Securities Regulatory Bureau. The Shenzhen Securities Regulatory Bureau pointed out that the company has multiple issues, including:
The company has irregular governance, mainly characterized by: irregular operations of the board of directors, incomplete registration of related parties; inadequate internal controls, primarily involving: irregular internal controls for major contracts, inadequate inventory management internal controls; irregular financial accounting practices, mainly concerning: irregular accounting for trade revenue, inaccurate accounting for advance payments.
