Shanghai Stock Exchange: Issue regulatory warning to publishing media, affiliated Kuandian Xinhua Bookstore, and relevant responsible persons.

On January 23, the Shanghai Stock Exchange issued a decision to give regulatory warnings to Northern United Publishing Media Co., Ltd., its related party Kuandian Manchu Autonomous County Xinhua Bookstore Co., Ltd., and relevant responsible persons. According to the facts investigated by the Liaoning Regulatory Bureau of the China Securities Regulatory Commission, the company and its related party Kuandian Manchu Autonomous County Xinhua Bookstore Co., Ltd. have engaged in the misappropriation of part of the company's funds. Additionally, the company's self-made straw trading business, inaccurate revenue recognition methods for coal trading business, and inaccurate provision for bad debts related to the special credit risk combination of accounts receivable from related parties have led to inaccurate financial information disclosed in the company's 2022 and 2024 annual reports. The Shanghai Stock Exchange has decided on the following regulatory measures: to give regulatory warnings to Northern United Publishing Media Co., Ltd., its related party Kuandian Manchu Autonomous County Xinhua Bookstore Co., Ltd., and the former Chairman Zhang Dongping, former General Manager Chen Chuang, former General Manager and Secretary of the Board of Directors Fei Hongwei, former Chief Accountant Ding Yuanxin, and former Secretary of the Board of Directors Wen Qufei.