Zhitong Finance App News, Weichuang Co., Ltd. (002308.SZ) issued an announcement. On March 27, 2024, the company announced the “Notice Concerning the Company's Receipt of a Letter of Supervision and Risk Reminder from Independent Directors” (Notice Number: 2024-006), and on April 20, it disclosed the “Second Risk Warning Notice Concerning the 2023 Annual Report May Not Be Disclosed within the Legal Period and an Audit Report Unable to Express an Opinion” (Notice Number: 2024-007). On April 24, it disclosed the “Notice Concerning the 2023 Annual Report May Not Be Within the Legal Period” Third Risk Warning Notice on Disclosure and Possible Issuance of Audit Reports Where No Opinion Can Be Expressed” (Notice No.: 2024-008).

According to the “Supervisory Letter on Promoting the Rectification of Irregular Matters of Weichuang Group Co., Ltd.” submitted by three independent directors: the 2023 financial report and internal control audit report must first be reviewed and approved by the Audit Committee (more than half of the independent board members) before they can be submitted to the board of directors for review. During the audit committee review, independent directors are likely to express objections to the 2023 financial report and internal control audit report, so the 2023 report and audit report cannot be submitted to the board of directors for consideration, resulting in the company not being able to disclose the annual report as scheduled. Furthermore, the three independent directors probably cannot guarantee the truth, accuracy, and completeness of the 2023 report, and cannot guarantee that there are no false records, misleading statements, or major omissions.

If the company is unable to disclose the 2023 annual report as scheduled, it may also be unable to disclose the 2024 first quarter report as scheduled.

According to the “Supervisory Letter on Promoting the Rectification of Irregularities of Weichuang Group Co., Ltd. and Related Matters” submitted by three independent directors, the company's 2023 annual report may be issued with an audit report where no opinion can be expressed, and an internal control audit report with negative opinions may also be issued.