The announcement clearly stated that the relevant matters of the "Administrative Penalty Decision" only involve Tang Xiuqing and Xiao Yonglin personally, and will not have a significant impact on the company's production, operation and financial status. As of the date of disclosure of the announcement, the company's production and operation are normal.
The cause of this incident can be traced back to , when the "private equity champion" Ye Fei publicly reported that many listed companies had violated regulations in market value management, and Haozhi Mechanical and Electrical was among them.
On September of that year, Tang Xiuqing received a "Notice of Case turkey phone number list Filing" from the China Securities Regulatory Commission for suspected manipulation of the securities market, and Xiao Yonglin was investigated for the same reason on August , . It was not until September this year that the two received the "Preliminary Notice of Administrative Penalty".
It is reported that Tang Xiuqing has served as vice chairman and general manager of Haozhi Mechanical and Electrical from its establishment in to April , and was later elected as chairman by the board of directors. And has become the company's controlling shareholder and actual controller since .