ST Huawen announced that the company and related parties, Beijing Xinying Shi Automobile Co., Ltd., then-chairman and president Wang Fanghuai, then-vice president Zhang Xiaoyong, and then-board secretary Jin Ri received a warning letter from the Hainan Securities Regulatory Bureau. The irregularities include: the 47 million yuan equity transfer was eventually used by the relevant Fangying Shi Auto, which constituted a non-operating capital occupation and was not returned until December 5, 2025; the subsidiary purchased 15 CBC bonds issued by the original controlling shareholder involving a related transaction of 30.14,400 yuan, which was not disclosed in accordance with regulations, and was not further disclosed until July 30, 2026. The relevant parties were taken to issue a warning letter and recorded in the capital market integrity file. A written rectification report was required within 30 working days. Currently, the use of capital has been rectified, related transactions have been traced, and the underlying bonds have been transferred.

ST Huawen announced that the company and related parties, Beijing Xinying Shi Automobile Co., Ltd., then-chairman and president Wang Fanghuai, then-vice president Zhang Xiaoyong, and then-board secretary Jin Ri received a warning letter from the Hainan Securities Regulatory Bureau. The irregularities include: the 47 million yuan equity transfer was eventually used by the relevant Fangying Shi Auto, which constituted a non-operating capital occupation and was not returned until December 5, 2025; the subsidiary purchased 15 CBC bonds issued by the original controlling shareholder involving a related transaction of 30.14,400 yuan, which was not disclosed in accordance with regulations, and was not further disclosed until July 30, 2026. The relevant parties were taken to issue a warning letter and recorded in the capital market integrity file. A written rectification report was required within 30 working days. Currently, the use of capital has been rectified, related transactions have been traced, and the underlying bonds have been transferred.