Core Points - The Shenzhen Stock Exchange issued a regulatory letter to Weili Transmission, citing violations related to incomplete information disclosure and inadequate internal controls [3][4] - The company failed to disclose key terms in an investment agreement with the Yinchuan Economic Development Zone, violating the completeness requirement for information disclosure [3] - The company’s management, including the chairman and general manager, were found responsible for these violations due to their failure to fulfill their duties [3] Summary by Category Regulatory Actions - The Shenzhen Stock Exchange's regulatory letter was based on previous administrative measures taken by the Ningxia Securities Regulatory Bureau against Weili Transmission and its executives [3] - The regulatory letter emphasizes the need for the company and involved parties to take these issues seriously and implement timely corrections to prevent recurrence [4] Company Violations - Weili Transmission's first violation involved incomplete disclosure in a public announcement regarding an investment agreement made on September 23, 2023 [3] - The second violation pertained to the company's internal control deficiencies and insufficient provision for bad debts related to accounts receivable [3] Management Accountability - The actions of the company's chairman, general manager, and board secretary were highlighted as significant contributors to the violations, indicating a lack of diligence in their responsibilities [3]

Core Viewpoint - The company, 威力传动, has been subjected to administrative regulatory measures by the Ningxia Securities Regulatory Bureau due to incomplete information disclosure and other internal control issues [1][2] Group 1: Regulatory Actions - The Ningxia Securities Regulatory Bureau issued a decision to impose corrective administrative measures on 威力传动, citing incomplete information disclosure in a public announcement made on September 23, 2023 [1][2] - The company failed to disclose key terms in the investment agreement with the Yinchuan Economic Development Zone Management Committee, violating the regulations of the Information Disclosure Management Measures for Listed Companies [1] - The regulatory measures also include conversations with the former chairman, general manager, and board secretary, who are held primarily responsible for the issues identified [2] Group 2: Identified Issues - The company has been found to have inadequate internal controls and insufficient provisions for bad debts related to accounts receivable [1] - The issues reflect a lack of compliance in information disclosure, internal control, and financial accounting practices [1]