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Agriculture

China Securities Regulatory Commission Issues Warning Letter to Xilingol League Yangyang Animal Husbandry Co. Ltd.

Strategic Insights

— 1 min read

The China Securities Regulatory Commission (CSRC) has issued a warning letter to Xilingol League Yangyang Animal Husbandry Co. Ltd. and its executives, Zhou Yong and Wu Nen, for violating regulatory requirements. The company failed to disclose its 2024 annual report, material debt defaults, and bank account freezing in a timely manner, violating relevant regulations. This move serves as a reminder to companies to comply with information disclosure requirements and to take their obligations seriously.

Key Takeaways:

  • Xilingol League Yangyang Animal Husbandry Co. Ltd. was found to have failed to disclose its 2024 annual report, material debt defaults, and bank account freezing in a timely manner, violating relevant regulations.
  • The company's chairman and secretary of the board of directors, Zhou Yong, failed to perform his duties faithfully and diligently, and is responsible for the violations.
  • The company's former secretary of the board of directors, Wu Nen, failed to perform his duties faithfully and diligently, and is responsible for the second violation.
  • The CSRC has decided to issue a warning letter to the company and its executives, and record the warning in the securities and futures market integrity file.
  • The company must submit a written rectification report to the CSRC within 15 days of receipt of the decision.
  • The relevant responsible parties should seriously learn from the lessons, strengthen their study of laws and regulations, and fulfill their information disclosure obligations in accordance with the law.

Statistics:

  • The company's audited net assets for 2023 were RMB 185 million.
  • The company defaulted on multiple debts from 2024 to 2025, amounting to RMB 75 million.
  • The company's basic deposit account and special deposit account were frozen by judicial authorities on April 1, 2025.

Sources:

  • China Securities Regulatory Commission (CSRC). (2021). Xilin Gol League Yangyang Animal Husbandry Co., Ltd., Zhou Yong and Wu Nen: Upon investigation, your company has the following problems.
  • CSRC Order No. 227 (Measures for the Supervision and Administration of Unlisted Public Companies)
  • CSRC Order No. 212 (Regulations on the Supervision and Administration of Unlisted Public Companies)
  • CSRC Order No. 191 (Measures for the Administration of Information Disclosure by Unlisted Public Companies)

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