TRIUMPH NEW EN (01108.HK): Receives Regulatory Warning Letter from CSRC Henan Bureau over Untimely Disclosure of Litigation and Arbitration; Chairman and Two Senior Executives Held Primarily Responsible
NewTimeSpace News: Triumph New Energy Co., Ltd. (stock code: 01108) issued an announcement stating that the Company has recently received the "Decision Letter on Administrative Supervisory Measures" (Document No. [2026]37), namely a warning letter, issued by the Henan Bureau of the China Securities Regulatory Commission (CSRC). The Henan Bureau found that the cumulative amount of litigation and arbitration over a rolling 12-month period reached RMB 333 million, representing 10.73% of the absolute value of the latest audited net assets, yet the Company did not make supplementary disclosure until 29 June 2026, resulting in untimely information disclosure in violation of Article 80, paragraph 2, item 10 of the Securities Law of the People's Republic of China, and Article 3, paragraph 1 and Article 23, paragraph 2, item 1 of the Administrative Measures for Information Disclosure by Listed Companies (CSRC Order No. 226).
The announcement disclosed that the Henan Bureau considered that Mr. Xie Jun, as the Chairman of the Company, Mr. Chen Peng, as the General Manager, and Mr. Chen Hongzhao, as the Secretary to the Board of Directors, failed to perform their duties diligently and bore primary responsibility for the matters concerned, in violation of Article 4 and Article 52, paragraph 2 of the Administrative Measures for Information Disclosure by Listed Companies. Pursuant to Article 53 of the said Measures, the Henan Bureau decided to impose the supervisory measure of issuing a warning letter on the Company and Mr. Xie Jun, Mr. Chen Peng and Mr. Chen Hongzhao, and to record the matter in the integrity files of the securities and futures market.
In addition, the Henan Bureau reminded the relevant persons to fully draw lessons from the incident, strengthen the study of securities laws and regulations, and take effective measures to enhance internal control and information disclosure management, and to submit a written rectification report to the Henan Bureau within 15 working days from the receipt of the decision letter. If dissatisfied with the above supervisory measures, the Company may apply for administrative reconsideration to the CSRC within 60 days from the receipt of the decision letter, or initiate legal proceedings at a competent people's court within 6 months from the receipt of the decision letter; during the reconsideration and litigation period, the above supervisory measures will not be suspended.
The Board considers that the supervisory measures set out in the warning letter will not affect the Company's normal operations and management activities. The Company and relevant personnel will attach great importance to the issues identified in the warning letter, earnestly draw lessons and adopt effective measures to strengthen internal control and information disclosure management, strictly performing information disclosure obligations in accordance with regulations.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
