Baiyin Nonferrous(SH:601212) Zhong Guo Jing Ying Bao·2025-10-27 06:17Core Points - Baiyin Nonferrous Metals (601212.SH) received an administrative penalty from the Gansu Securities Regulatory Bureau for failing to disclose overdue financial products amounting to 3 billion yuan, resulting in a total fine of 8.8 million yuan for the company and its executives [2] - The company purchased 30 billion yuan in financial products between August 2017 and March 2018, which were not recovered on time in 2019 and only fully recovered by December 2024, leading to a significant delay of six years [2] - The Gansu Securities Regulatory Bureau found that Baiyin Nonferrous Metals violated the Securities Law and the Management Measures for Information Disclosure of Listed Companies, resulting in a warning and a fine of 4 million yuan for the company [2] Executive Penalties - The chairman Wang Pugong was fined 1.5 million yuan, while former general manager Wang Bin and former secretary Sun Long were each fined 1 million yuan [2] - The former financial director Wu Guiyi was fined 800,000 yuan, and the current financial director Xu Dongyang was fined 500,000 yuan, totaling 4.8 million yuan in penalties for the five executives [2] - All executives were aware of the overdue funds but failed to disclose this information and signed off on the annual reports as being true and complete [2] Recent Regulatory Actions - This incident marks the second time Baiyin Nonferrous Metals has faced regulatory scrutiny recently, as the company and some executives received a warning from the Gansu Securities Regulatory Bureau on October 1 for prior accounting errors in financial statements [3] - Financial data indicates that Baiyin Nonferrous Metals experienced a 15.28% year-on-year decline in revenue in the first half of 2025, resulting in a net loss of 217 million yuan [3]