Zhong Guo Jing Ji Wang·2025-09-29 09:39Core Viewpoint - The China Securities Regulatory Commission (CSRC) issued a warning letter to Yonghui Supermarket Co., Ltd. for failing to timely disclose changes in shareholding after reducing its stake in Hongqi Chain Co., Ltd. from 11% to 10% [1][5][6] Group 1: Company Actions - Yonghui Supermarket acquired over 5% of Hongqi Chain shares in 2017 through a transfer agreement [1][5] - From April 21 to April 24, 2025, Yonghui Supermarket reduced its holdings by 13.6 million shares, resulting in a decrease in ownership from 11% to 10% [1][5] - The company did not disclose the change in shareholding until July 21, 2025, violating the regulations [1][6] Group 2: Regulatory Framework - According to the "Measures for the Administration of the Acquisition of Listed Companies," investors must report changes in shareholding when reaching or crossing the 5% threshold within three days [3][4] - The CSRC can impose administrative measures, including issuing warning letters, for non-compliance with disclosure obligations [4][6] - Yonghui Supermarket's actions were recorded in the securities and futures market integrity database as part of the regulatory measures [1][6]