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Sunflower: Fined 3 million yuan by the CSRC for disclosure violations
Sunflower Announcement, the company has received the “Administrative Penalty Decision” issued by the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission.
After investigation, the company’s major asset restructuring plan disclosed in September 2025 contained misleading statements regarding the profit model of the target asset, Zhu Pu Materials, leading to abnormal stock price fluctuations.
The CSRC has decided to issue a warning to the company and impose a fine of 3 million yuan;
to warn Wu Shaoqin, the then Chairman, and impose a fine of 1.5 million yuan;
to warn Li Lan, the then Secretary of the Board, and impose a fine of 600k yuan.
The company stated that this penalty does not involve any major illegal violations that would force delisting, and current production and operations are normal.