On June 17th, the Shenzhen Stock Exchange issued a regulatory letter to ST Hongtao, and on June 17th, 2024, the company announced the "Announcement on Resignation of Company Directors and Senior Management Personnel," which showed that the company's board of directors received Hou Chunwei's written resignation report on May 13th, 2024. Hou Chunwei applied to resign from all positions in the company's board of directors, including director, vice chairman, CEO, and all committee members such as the board of directors' global strategy and information disclosure committee members, for personal reasons. However, the company did not disclose the relevant announcement until June 17th. At the same time, it is noted that on May 27th, 2024, the company submitted a "Shareholding Reduction Plan Notice Letter" for Hou Chunwei to the Shenzhen Stock Exchange. The letter shows that Hou Chunwei plans to reduce his shares in the company by 19,696,911 shares. The company deliberately concealed the relevant situation and submitted his shareholding reduction application to the Shenzhen Stock Exchange, despite being aware that Hou Chunwei had resigned from his director and senior executive positions and was not allowed to reduce his shares within six months of leaving the company, as required by law.