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China National Machinery Industry Corporation Jinggong: Violations in Fundraising Management, Company and Multiple Executives Receive Warning Letter from the CSRC
China National Machinery Industry Corporation Jinggong Announcement: The company received a “Warning Letter” from the Henan Securities Regulatory Bureau on April 8. Upon investigation, the company was found to have violations such as not managing raised funds through dedicated accounts, using idle raised funds for cash management with a maximum balance exceeding the board’s approval limit, and depositing non-raising funds into the dedicated accounts for raised funds. The Henan Securities Regulatory Bureau decided to take administrative regulatory measures by issuing warning letters to the company and responsible personnel including Chairman Jiang Wei, former Chairman Zhu Feng, and General Manager Yan Ning, and these actions will be recorded in the securities and futures market integrity archive.