Bestsun Energy(SH:600681) Shang Hai Zheng Quan Bao·2025-11-14 20:42Core Viewpoint - Baichuan Energy has received an administrative regulatory measure from the Hubei Securities Regulatory Bureau due to violations related to undisclosed related party transactions involving its chairman Wang Donghai [1][2]. Group 1: Regulatory Measures - The Hubei Securities Regulatory Bureau issued a warning letter to Baichuan Energy and Wang Donghai for failing to disclose related party relationships and transactions, specifically regarding the acquisition of Zhuolu Dadi Gas Co., Ltd. and Suizhong Dadi Natural Gas Pipeline Co., Ltd. for 220 million yuan in October 2019 [1][2]. - The company is required to learn from this incident and enhance its compliance with securities laws and regulations to prevent similar occurrences in the future [2][3]. Group 2: Company Response - Baichuan Energy acknowledges the issues raised in the warning letter and commits to improving its identification of related parties and management of related transactions, as well as enhancing its information disclosure practices [3]. - The administrative measures will not affect the company's normal operations, and it will continue to fulfill its disclosure obligations in accordance with relevant laws and regulations [3]. Group 3: Board Meeting - The 12th Board of Directors of Baichuan Energy held its fifth meeting on November 13, 2025, where all seven directors attended, and the meeting complied with legal and regulatory requirements [7]. - The board approved a resolution to recognize the related party transactions that occurred in October 2019, ensuring compliance with relevant regulations [8][9]. - The resolution was passed with four votes in favor, no opposition, and three abstentions from related directors [11].