TRIUMPH NEW EN (01108.HK): Issues Rectification Report over Untimely Disclosure of Accumulated Litigation and Arbitration, Involving RMB 333 Million or 10.73% of Net Assets
NewTimeSpace News: Triumph New Energy Company Limited (stock code: 01108) announced on August 7 that the Company has published a rectification report in response to the administrative supervision measure decision letter (warning letter) issued by the Henan Regulatory Bureau of the China Securities Regulatory Commission (CSRC). The Company had previously disclosed receipt of the warning letter (Document No. [2026] No. 37).
According to the announcement, the issue identified in the warning letter was the untimely disclosure of the Company's accumulated litigation and arbitration cases within a rolling 12-month period. As of May 8, 2026, the accumulated amount of litigation and arbitration of the Company within 12 consecutive months was RMB 333 million, representing 10.73% of the absolute value of the most recently audited net assets, and the Company made supplementary disclosure only on June 29, 2026. The Company and the responsible persons attached great importance to the issues identified in the warning letter and have conducted a comprehensive self-inspection and rectification of the internal control processes and information disclosure management involved.
In terms of rectification measures, the Company has further standardized the management of litigation and arbitration cases, held special meetings, and formulated and issued the Notice on Regulating the Reporting of the Company's Litigation and Arbitration Case Information, under which the Company's Legal and Compliance Department will carry out regular review and supervision of case reporting by all units, and serious accountability will be pursued in accordance with the Company's rules and regulations for failure to report within the prescribed time limit, omission or concealment of case information, or submission of false, erroneous or incomplete information. Meanwhile, the Company has strengthened training on securities laws and regulations, and formulated and issued a Checklist for Internal Reporting of Major Information in accordance with the Company's Internal Reporting System for Major Information, providing special training for members of the management teams of the Company and its subsidiaries, principals of business departments and relevant personnel in financial, investment, procurement, sales and legal management positions.
The Company stated that, after a comprehensive review and in-depth analysis, it recognizes that there are still deficiencies in internal management, the quality of basic information needs to be further consolidated, and inter-departmental coordination needs to be further strengthened. Taking this rectification as an opportunity, the Company will strengthen the study of securities laws and regulations, enhance internal control and information disclosure management, and improve the standard of compliant operation and the quality of information disclosure.
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