Zhitong Finance App News, Zitian Technology (300280.SZ) announced that the company received the “Advance Notice of Administrative Penalties” issued by the China Securities Regulatory Commission and the Fujian Regulatory Bureau on December 28, 2023. The details are now announced as follows:

Fujian Zitian Media Technology Co., Ltd., Fuzhou Anchang Investment Center (limited partnership), Yao Xiaoxin, Guo Min: After investigation, the facts that you are suspected of breaking the law are as follows: An Chang Investment holds 33.5 million shares of “Zitian Technology”, accounting for 20.67% of the company's total share capital, and is the controlling shareholder of Zitian Technology. On March 31, 2023, all 33.5 million shares of “Zitian Technology” held by Anchang Investment were frozen by the Nanjing Intermediate People's Court (33.1 million shares were frozen in the first round). On April 3, 2023, Zitian Technology and An Chang Investment learned that 33.1 million shares of “Zitian Technology” (20.42% of the company's total share capital) held by Anchang Investment were frozen as described above.

According to section 78 (1), section 80 (1) and (2) (12) of the “Securities Law” and the “Administrative Measures on Information Disclosure of Listed Companies” (Securities Regulatory Commission Order No. 182, hereinafter referred to as “Information Disclosure Management Measures”), Zitian Technology should promptly disclose the freezing of shares held by An Chang Investment, but the company issued the “Notice Concerning Judicial Freezing of Shares by Controlling Shareholders” and “Notice Concerning Response to the Letter of Concern on the Shenzhen Stock Exchange”. According to section 80 (3) of the Securities Law, An Chang Investment, as the controlling shareholder, should promptly notify Zitian Technology in writing of the 33.1 million shares of “Zitian Technology” it holds. However, An Chang Investment did not send a “Notice Letter” to the company for the first time until April 17, 2023, informing the company about the aforementioned share freeze. As a result, Zitian Technology did not promptly disclose the aforementioned share freeze situation. Our bureau believes that the above acts by Zitian Technology violate the provisions of section 78 (1), section 80 (1) and (2) (12) of the “Securities Law”, and are suspected of constituting acts described in section 197 (1) of the “Securities Law”; the above acts of Anchang Investment violate the provisions of section 80 (3) of the Securities Law and are suspected of constituting acts described in section 197 (1) of the Securities Law.

According to the facts, nature, circumstances and degree of social harm of the person concerned, according to the provisions of section 197 (1) of the Securities Law, our bureau proposes to decide: 1. Give a warning to Zitian Technology and impose a fine of 500,000 yuan; 2. Give a warning to Anchang Investment and impose a fine of 750,000 yuan; 3. Give a warning to Yao Xiaoxin and impose a fine of 500,000 yuan, of which the supervisors directly responsible for Zitian Technology's illegal acts will be fined 200,000 yuan; 4, to the shareholders directly responsible for the illegal acts controlling them; Guo Min gave a warning and was fined 200,000 yuan fines.