ST received an emergency administrative penalty decision, with multiple violations resulting in a million yuan fine.

On October 18, 2024, ST Emergency was investigated by the China Securities Regulatory Commission for suspected violations of laws and regulations on information disclosure. On September 16, 2025, the company and relevant parties received the "Administrative Penalty Decision" from the Hubei Regulatory Bureau. It was found that there were accounting errors in the company's 2022 annual report, with inaccuracies in revenue recognition and bad debt provision, leading to an overstatement of operating income by 31.3724 million yuan and total profit by 7.1403 million yuan for that year. The company was given a warning and fined 4 million yuan; former chairman Tang Yong and three others were also warned and fined. The company stated that it does not meet the criteria for mandatory delisting due to major violations, has completed rectification, and will apply to have other risk warnings removed 12 months after the penalty decision, and its operations are currently normal.