CNOOHAIDA (300177.SZ) and related personnel received a warning letter from the Guangdong Securities Regulatory Bureau

According to the Zhitong Finance App, Zhonghaida (300177.SZ) issued an announcement. Today, the company received the “Decision on Issuing Warning Letter Measures against Guangzhou Zhonghaida Satellite Navigation Technology Co., Ltd., Liao Dinghai, Liao Jianping, and Zeng Jiacheng” (“Warning Letter”) issued by the Guangdong Regulatory Bureau of the China Securities Regulatory Commission (“Guangdong Securities Regulatory Bureau”).

According to reports, the Guangdong Securities Regulatory Bureau carried out an on-site inspection of the company and found that the company had the following problems: 1. The company underestimated bad debt preparation by 2,511,800 yuan and 945,000 yuan in 2024 and 2025, respectively, due to the inaccurate age division of accounts receivable accounts receivable from individual customers. 2. In 2025, when a customer has not completed contract acceptance, the risk of equipment damage and loss as agreed in the contract has not been transferred, and revenue recognition conditions have not been met, the company confirmed revenue based on the customer having signed the equipment and paid most of the payment, resulting in early confirmation of revenue of 2.4565 million yuan in 2025. 3. Two of the top five customers disclosed in the company's 2025 annual report, as well as one of the non-top five customers, are controlled by the same person. The company did not merge and was disclosed as the same customer, resulting in inaccurate information on the top five customers disclosed in the annual report. In addition, there were minor errors in the amounts of items such as “Lease Debt Payment” and “Plus: Rental Liabilities Due Within One Year” in the Company's 2025 Annual Report Financial Statement.

The above situation did not comply with the relevant regulations. Liao Dinghai is the chairman of the company, Liao Jianping as the company's president, and Zeng Jiacheng, as the company's financial director, failed to perform diligent and conscientious duties in accordance with regulations, and bears the main responsibility for the company's irregularities. The Guangdong Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters against the company, Liao Dinghai, Liao Jianping, and Zeng Jiacheng.