Tiantong Shares and five former executives received regulatory warnings: failure to disclose related parties and related transactions as required over a long period.

2026-04-05 15:09:54

Abstract generation in progress

On April 3, the Shanghai Stock Exchange issued a decision titled “Decision on Regulatory Warning for TongTing Holding Co., Ltd. and Relevant Responsible Persons,” as it was found that the company had long failed to disclose related parties and related-party transactions as required, and despite repeated regulatory urging, had not made corrections. As a result, TongTing shares (600330.SH) were given a regulatory warning.

At the same time, the then chairman of TongTing shares, Pan Jianqing and Zheng Xiaobin; the then general manager, Pan Zhengqiang; the then financial controller, Lu Jun; and the then secretary of the board of directors, Feng Yanjing, were also all issued regulatory warnings.

According to the regulatory decision issued by the SSE and the facts previously ascertained by the Zhejiang regulatory bureau of the China Securities Regulatory Commission, from 2021 to 2024, XuZhou TongXin Optoelectronic Technology Co., Ltd., XuZhou MeiXing Optoelectronic Technology Co., Ltd. (hereinafter referred to as “MeiXing Optoelectronic”), and JiaXing TianYing Technology Development Co., Ltd. should be recognized as related parties of TongTing shares, but the company did not disclose this.

In addition, from 2022 to 2024, the transaction amounts between TongTing shares and MeiXing Optoelectronic reached the standards for deliberation by the board of directors, but the company failed to fulfill the deliberation procedures and information disclosure obligations for related-party transactions.

The SSE pointed out that the company’s related-party transactions failed to fulfill the deliberation procedures and information disclosure obligations. The period during which the violations occurred was long, and even after multiple regulatory demands for rectification, there were still information disclosure violations. This violates relevant provisions of the Shanghai Stock Exchange Listing Rules (hereinafter referred to as the “Listing Rules”), including Article 1.4, Article 2.1.1, Article 6.3.1, Article 6.3.6, and other related provisions.

Regarding responsible persons: the then chairman Pan Jianqing, the then chairman Zheng Xiaobin, the then general manager Pan Zhengqiang, the then financial controller Lu Jun, and the then secretary of the board of directors Feng Yanjing failed to perform their duties diligently and bear primary responsibility for the above-mentioned violations. This violates relevant provisions of the Listing Rules, including Article 2.1.2, Article 4.3.1, Article 4.3.5, Article 4.4.2, and other related provisions, as well as the commitments they made in the “Statement and Undertaking of Directors (Senior Management Personnel).”

Based on the above facts and circumstances of the violations, in accordance with the provisions of Article 13.2.1 and Article 13.2.2 of the Listing Rules and the “Measures for Implementation of Disciplinary Sanctions and Regulatory Measures by the Shanghai Stock Exchange,” among other relevant provisions, the SSE made the following decision on regulatory measures: to issue regulatory warnings to TongTing shares’ then chairman Pan Jianqing, the then chairman Zheng Xiaobin, the then general manager Pan Zhengqiang, the then financial controller Lu Jun, and the then secretary of the board of directors Feng Yanjing.

The SSE requires that the company and its directors and senior management personnel take effective measures to rectify the relevant violations, conduct an in-depth investigation into compliance risks existing in information disclosure and standardized operations, and formulate targeted rectification measures. The company must, within one month after receiving this decision letter, submit to the SSE a rectification report confirmed by signatures of all directors and senior management personnel.

Pengpai News reporter Pang Jingtou

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