Luo Wenxia, Vice President of Yonghui Superstores, Receives the Warning Letter for Not Disclosing the Reduction Plan Before the Reduction
The recent decision on administrative supervision measures (〔2020〕 No. 21) published on the website of the China Securities Regulatory Commission shows that Luo Wenxia, as a shareholder and deputy general manager of Yonghui Superstores, reduced 2,000 shares through centralized auction transactions on September 12, 2019. The shareholding reduction plan was not disclosed before the shareholding reduction. The Fujian Securities Regulatory Bureau adopted the decision to issue a warning letter.
1) The CSRC website decided to take administrative supervision measures to issue warning letters to Luo Wenxia and record them in the integrity file database of the securities and futures market. He should strengthen the study of relevant securities laws and regulations, effectively raise the awareness of information disclosure, strictly cooperate with listed companies in performing information disclosure obligations in accordance with regulations, and prevent such acts from happening again.