Hunan TV & Broadcast Intermediary (000917.SZ) received a decision on administrative regulatory measures from the Hunan Securities Regulatory Bureau.

Hunan TV & Broadcast Intermediary (000917.SZ) Announcement: the company and relevant responsible persons recently received a decision from the Hunan Securities Regulatory Bureau to take administrative supervision measures to correct Hunan TV & Broadcast Intermediary and issue a warning letter to related responsible persons. The announcement shows that during the on-site inspection of the company by the Hunan Securities Regulatory Bureau, the following issues were found: first, undisclosed related-party transactions. The company did not disclose the joint investment behavior with the controlling shareholder Hunan Broadcasting and Television Group Co., Ltd. towards Shenzhen Dacheng Chuanghong Private Equity Investment Fund Enterprise (Limited Partnership) and Shenzhen Dacheng Chuangcheng Private Equity Investment Fund Enterprise (Limited Partnership) from 2021 to 2024. Second, the provision for inventory impairment was not made prudently. The subsidiary Huafengda Cable Network Holdings Co., Ltd. did not prudently make provision for impairment of part of the film inventory at the end of 2021.