YUNNEI POWER(SZ:000903) Zheng Quan Zhi Xing·2025-08-08 11:14Core Viewpoint - Kunming Yunnei Power Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, leading to administrative penalties against the company and its executives [1][2]. Summary by Sections Basic Information - The company received a notice from the CSRC on January 10, 2025, regarding the initiation of an investigation for alleged violations of information disclosure laws [1]. - The company disclosed the receipt of the notice on January 11, 2025, and further details were provided in subsequent announcements [1]. Administrative Penalty Decision - The CSRC's administrative penalty decision includes fines and warnings for the company and several key executives, including the chairman and general managers [2][18]. - The company is required to correct financial statements and fulfill information disclosure obligations [15]. Violations Identified - The company was found to have false records in its 2021 and 2022 annual reports, including inaccuracies in accounting for sales rebates, supplier compensation, and expense recognition [5][6][7]. - Specific financial impacts include a reduction of reported revenue by CNY 16.29 million in 2021 and an increase in reported revenue by CNY 22.58 million in 2022, affecting profit totals significantly [10][11]. Responsibilities of Executives - Key executives, including the chairman and general managers, failed to ensure proper internal controls and accurate financial reporting, leading to their direct responsibility for the violations [11][12][14]. - The penalties imposed on executives range from CNY 60,000 to CNY 200,000, depending on their roles and responsibilities [18]. Future Actions - The company plans to apply for the removal of risk warnings from its stock trading status after fulfilling specific conditions related to financial statement corrections and a waiting period of twelve months [15][16].