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Hualai Stock Receives Warning Letter from Guangdong Securities Bureau for Q3 2025 Financial Disclosure Error

GateNews

2026-05-26 08:09:04

According to Guangdong Securities Regulatory Bureau, Hualai Stock Co. received a warning letter on May 26 for inaccurate financial disclosure in Q3 2025. The company incorrectly accounted for municipal water project revenue, resulting in operating income overstatement of 96.19 million yuan and net profit attributable to parent overstatement of 14.65 million yuan. Chairman and CEO Dong Jiangang and Finance Chief Sun Yuanyuan were cited for failing to fulfill fiduciary duties. The company corrected the accounting error in April 2026.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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