Xintiandi Pharmaceutical Receives Regulatory Letter from Shenzhen Stock Exchange for Irregular Use of 187 Million Yuan in Funds to Purchase Financial Products

MaticHoleFiller · 2026-03-22T11:26:31+00:00

Xintiandi Pharmaceutical was issued a regulatory letter by the Shenzhen Stock Exchange for violations in using idle raised funds for cash management, involving an amount of 187 million yuan. The company conducted redemption of financial products outside the authorized period and failed to redeem financial products on time, but this did not affect the safety of the funds. The regulatory authorities require the company to promptly rectify the issues and pay attention to information disclosure responsibilities.

MaticHoleFiller

2026-03-22 11:26:31

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The Shenzhen Stock Exchange Growth Enterprise Market Company Management Department issued a regulatory letter (Growth Enterprise Market Regulatory Letter [2026] No. 30) to Xintiandi Pharmaceutical Co., Ltd. (hereinafter referred to as “the Company”) and related responsible persons on March 16, 2026, pointing out violations in the company’s cash management using idle raised funds and proprietary funds.

The regulatory letter shows that the authorization for Xintiandi Pharmaceutical to use part of its idle raised funds for cash management was valid from November 30, 2024, to November 30, 2025. However, outside this authorized period, the company purchased financial products with a total amount of 122 million yuan; additionally, some cash management financial products purchased within the board’s authorization period were not redeemed within the authorized period, involving an amount of 65 million yuan. Both of these violations involved financial products that have now been redeemed and did not adversely affect the safety of the raised funds.

The Shenzhen Stock Exchange believes that the company’s above-mentioned actions violate Article 1.4 and Article 5.1.1 of the Growth Enterprise Market Listing Rules, as well as Article 6.3.6 of the “Guidelines for Self-Regulation of Listed Companies No. 2 - Standard Operation of Growth Enterprise Market Listed Companies.” At the same time, Chairman Xie Jianzhong, General Manager Zhang Luwei, CFO Wang Qingkui, and Board Secretary Xie Yushan violated Article 1.4 and Article 5.1.2 of the Growth Enterprise Market Listing Rules.

The regulatory letter requires the company’s board of directors and relevant parties to fully recognize the above issues, learn lessons, make timely corrections, and prevent similar problems from happening again. The Shenzhen Stock Exchange also reminds that listed companies must diligently and promptly fulfill their information disclosure obligations in accordance with national laws, regulations, and the Growth Enterprise Market Listing Rules. All members of the board of directors must ensure that the disclosed information is true, accurate, complete, and free of false records, misleading statements, or major omissions, and they will bear individual and joint responsibility for their guarantees.

Type of Violation	Involved Amount (billion yuan)
Purchasing financial products outside authorized period	1.22
Purchasing within authorized period but not redeemed on time	0.65
Total	1.87

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