Zhong Guo Jing Ji Wang·2026-01-07 07:03Core Viewpoint - The Shanghai Stock Exchange has issued a regulatory warning to Ningbo Tianpu Rubber Technology Co., Ltd. due to its misleading information disclosure regarding its business operations related to artificial intelligence, which led to abnormal stock price fluctuations [1][2]. Group 1: Company Actions and Announcements - On December 29 and 30, 2025, Tianpu's stock price hit the daily limit up for two consecutive trading days, triggering abnormal fluctuation standards [1]. - The company announced that it had no plans to engage in artificial intelligence-related business and that there were no undisclosed significant information [1]. - On December 26, 2025, the company established a wholly-owned subsidiary, Hangzhou Tianpu Xincai Technology Co., Ltd., with a business scope that included integrated circuit chip design and artificial intelligence software development [1]. - Following media reports about the subsidiary, the company changed the subsidiary's business scope to rubber product manufacturing and automotive parts manufacturing on December 31, 2025 [1]. Group 2: Regulatory Findings - The Shanghai Stock Exchange noted that the term "artificial intelligence" is a market hotspot, and the company's previous control transfer plans involved AI-related market entities, leading to multiple instances of abnormal stock price fluctuations [2]. - The company failed to adequately clarify its lack of plans for AI-related business after the establishment of the subsidiary, which could mislead investors [2]. - The company's actions were found to violate several articles of the Shanghai Stock Exchange's listing rules, including inadequate risk disclosure and incomplete information [2]. Group 3: Accountability of Individuals - The then-director Shen Weiyi (acting chairman) and the then-secretary of the board Wu Pinyan were held responsible for the company's violations due to their failure to fulfill their duties regarding information disclosure [3]. - Their actions were found to contravene multiple articles of the listing rules and their commitments made in the declaration and commitment letter [3]. - As a result of these violations, the Shanghai Stock Exchange issued a regulatory warning to both the company and the responsible individuals [3].