The China Securities Regulatory Commission imposed a 1 million yuan fine on Jinyuan EP (SHE:000546) for failure to disclose information promptly, according to a Shenzhen Stock Exchange disclosure on Saturday.
The building materials manufacturer did not disclose that Chairman Zhao Hui and Chief Financial Officer Fang Guangquan issued 406.6 million yuan worth of shares in the company, or 8.4% of shares, to purchase goods from suppliers in October 2023.
The regulator imposed a fine of 1.5 million yuan on Zhao and 400,000 yuan on Fang, the disclosure added.
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