Zhizhi Retreat received a pre-notification of administrative penalty from the Shenzhen Stock Exchange due to violations such as failure to timely disclose material company events.

Securities Star News, on March 17, Gongzhi issued an announcement stating that Jiangsu Harbin Intelligent Robotics Co., Ltd., non-independent directors Eddie, Wang Xueqing, Wang Yan, Qiao Hui, Chen Pei, Zhao Liang, and Wang Fei were issued an administrative penalty notice by the Shenzhen Stock Exchange for failing to disclose major company events in a timely manner and for not fulfilling other responsibilities according to law.

Detailed violations are as follows:

1. Failure to truthfully disclose the actual controller. From 2017 to 2023, the annual reports contained false records. From 2017 to June 2023, Wang Fei led the acquisition of your company, recommended and arranged multiple directors and senior executives, and influenced major business decisions and personnel appointments through establishing the “Strategic Committee,” thereby controlling your company’s actions. During this period, Wang Fei was also the actual controller of your company. Your company’s 2017-2023 annual reports did not disclose that Wang Fei was one of the actual controllers, and these reports contained false records.

2. Failure to disclose non-operational related-party funds. From 2017 to 2024, there were significant omissions in the annual reports regarding this. Eddie served as your company’s chairman from February 2017 to September 2025 and was one of the then-actual controllers. He controlled Beijing Mi Zi Xing Venture Capital Management Co., Ltd. (hereinafter referred to as Beijing From Xing), a related legal entity. Your company transferred funds under the guise of investment, which after multiple transfers, were provided to Beijing From Xing to repay debts or to repay debts on behalf of Beijing From Xing, constituting non-operational related-party fund usage. From 2017 to 2024, the ending balances of these funds were RMB 75 million, RMB 349.9978 million, RMB 349.9978 million, RMB 371.9978 million, RMB 371.9978 million, RMB 371.9978 million, RMB 269.9978 million, and RMB 199.8978 million, respectively, accounting for 4.45%, 19.46%, 18.77%, 14.60%, 19.03%, 33.35%, 49.19%, and 61.05% of your company’s net assets in those periods. As of July 2025, the balance was RMB 198.3978 million. Your company failed to disclose these fund usages timely and did not include them in the annual reports from 2017 to 2024, resulting in significant omissions.

3. Failure to disclose progress of major events. The 2022 annual report contained major omissions. In May 2021, your company signed the “Share Purchase Agreement” with all shareholders of Jilin Jiangji Minke Industrial Co., Ltd. (hereinafter referred to as Jiangji Minke), including shareholder Liu Yanzhong, to acquire 70% of Jiangji Minke’s equity for RMB 840 million. In July 2022, your company and the shareholders signed a “Supplementary Agreement,” stipulating that if your company failed to pay 70% of the total transaction price by August 31, 2022, the shareholders could terminate the transaction. Your company disclosed the above agreements lawfully. However, because your company did not pay the purchase price as agreed, on December 29, 2022, Liu Yanzhong sent an electronic “Termination Notice” to your then-General Manager Zhao Liang. On January 3, 2023, your company received the paper version of the termination notice, which stated that all shareholders of Jiangji Minke proposed to terminate the transaction. The acquisition of Jiangji Minke’s equity was a major event under the Securities Law, and receiving the termination notice was a significant development. Your company should have disclosed this promptly and included it in the annual report, but failed to do so, and the 2022 annual report also did not disclose this termination, resulting in major omissions.

4. Failure to truthfully disclose the use of raised funds. The 2023-2024 annual reports and related special reports on the deposit and use of funds contained false records. From June to August 2021, your company paid a total of RMB 289.9999 million to Liu Yanzhong and others, of which RMB 269.9999 million came from raised funds. Although your company signed the “Termination Notice” on January 3, 2023, and the acquisition was canceled, the funds used for the acquisition have not been returned to the dedicated fund account. Your company failed to truthfully disclose this in the 2023-2024 annual reports and related special reports, did not fully reveal the risks associated with the use of raised funds, and contained false records.

Decisions on penalties are as follows:

• Publicly disqualify Wang Fei, then Vice Chairman, Director, and actual controller of Jiangsu Harbin Intelligent Robotics, from serving as a director or senior management of listed companies for life. From the date of this decision, Wang Fei shall not serve as a director or senior management during the disqualification period.

• Publicly criticize Jiangsu Harbin Intelligent Robotics.

• Publicly disclose the penalties to Jiangsu Harbin Intelligent Robotics, including Wang Fei, Eddie, Qiao Hui, Wang Yan, Chen Pei, and Zhao Liang, who served as Vice General Manager, General Manager, or other senior roles.

• Issue a notice of criticism to Wang Xueqing, then Vice General Manager.

The above content is compiled from public information by Securities Star, generated by AI algorithm (Network Credit Record 310104345710301240019), and does not constitute investment advice.