Juheshun and relevant responsible persons received a warning letter from the Zhejiang Securities Regulatory Bureau
Juheshun recently received a warning letter from the Zhejiang Securities Regulatory Bureau for failing to timely fulfill the review procedures and information disclosure obligations regarding the use of raised funds. The company used CNY 90 million of idle raised funds for cash management in September 2024, and only supplemented the review and disclosure in April 2025. Chairman Fu Changbao, General Manager Mao Xinhua, and former Secretary of the Board Yao Shuangyan failed to perform their duties, violating relevant management regulations, and received warnings that will be recorded in their integrity files
According to the Zhitong Finance APP, Juheshun (605166.SH) announced that the company recently received a warning letter from the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission regarding the decision to take supervisory measures against Juheshun New Materials Co., Ltd. and related personnel. The relevant situation is as follows:
On September 20, 2024, and September 26, 2024, the company used part of its idle raised funds for cash management, totaling 90 million yuan. The company did not timely fulfill the review procedures and information disclosure obligations regarding the above matters, and only convened a board meeting for supplementary review and disclosure in April 2025.
The company's above actions violated Article 8 of the "Guidance No. 2 on the Regulation of Listed Companies - Regulatory Requirements for the Management and Use of Raised Funds" (CSRC Announcement [2022] No. 15) and Article 3 of the "Administrative Measures for Information Disclosure of Listed Companies" (CSRC Order No. 182). The company's chairman Fu Changbao, general manager Mao Xinhua, and the then secretary of the board and financial director Yao Shuangyan failed to diligently fulfill their responsibilities, urging the listed company to standardize the use of raised funds and fulfill information disclosure obligations, violating Articles 4 and 51 of the "Administrative Measures for Information Disclosure of Listed Companies" (CSRC Order No. 182).
According to Article 52 of the "Administrative Measures for Information Disclosure of Listed Companies" (CSRC Order No. 182), the Zhejiang Securities Regulatory Bureau decided to issue warning letters as supervisory measures against the company, Fu Changbao, Mao Xinhua, and Yao Shuangyan, and to record this in the integrity archives of the securities and futures market
