锦盛新材关联交易事项处罚落定

Core Points - Zhejiang Jinsong New Materials Co., Ltd. received an administrative penalty from the China Securities Regulatory Commission for failing to disclose related party transactions in a project worth 1.2 billion yuan, which accounted for 18.6% of the company's audited net assets [2] - The company was fined 1.5 million yuan, while responsible individuals faced fines ranging from 500,000 to 1.5 million yuan [2] - The company had previously initiated a recognition process to classify the related transactions as such, which was approved by the board and shareholders [2] Summary by Sections - Administrative Penalty: The company was penalized for not disclosing related party transactions in a project involving Zhejiang Hongxiang Construction Engineering Co., Ltd., which was actually contracted by the nephew of the company's actual controller [2] - Project Pricing and Review: The project pricing was reviewed by professional institutions, confirming that the final settlement amount of approximately 1.53 billion yuan was reasonable and aligned with market prices, indicating no harm to the company's or minority shareholders' interests [3] - Internal Governance Improvement: Following the penalty, the company aims to strengthen internal controls and governance standards, ensuring future disclosures are accurate and timely [3]