LuoNiuShan received a regulatory letter from the Shenzhen Stock Exchange for failing to disclose the 40.54 million yuan tax payment matter in a timely manner; the chairman and the secretary of the board were named.

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Shenzhen Stock Exchange issued a regulatory letter on March 20, 2026, to Luoniushan Co., Ltd. (hereinafter referred to as “the Company”) and relevant responsible persons (Regulatory Letter of the Company Department [2026] No. 35), pointing out that the Company has violations in information disclosure related to tax matters. The Company’s chairman Xu Zili and board secretary Zhang Hui bear primary responsibility for the aforementioned violations.

The regulatory letter indicates that Luoniushan disclosed an announcement regarding tax matters on January 10, 2026, stating that the Haikou Meilan District Tax Bureau of the State Administration of Taxation had previously delivered a “Tax Matters Notice” (Haikou Meilan Tax Bureau Tong [2025] No. 1) to the Company, determining that the Company should make up for a corporate income tax of 40.5407 million yuan. However, after being informed of the aforementioned tax-related matters and their progress, the Company failed to timely fulfill its information disclosure obligations.

The Shenzhen Stock Exchange pointed out that Luoniushan’s behavior violates Articles 1.4, 2.1.1 (first paragraph), and 7.7.7 of the “Stock Listing Rules (2025 Revision).”

At the same time, the Company’s chairman Xu Zili failed to perform his duties diligently and fulfill his obligations of loyalty and diligence, violating Articles 1.4, 2.1.2 (first paragraph), and 4.3.1 (first paragraph) of the “Stock Listing Rules (2025 Revision),” and is primarily responsible for the Company’s aforementioned violations. The Company’s board secretary Zhang Hui also failed to perform his duties diligently and fulfill his obligations of loyalty and diligence, violating Articles 1.4, 2.1.2 (first paragraph), 4.3.1 (first paragraph), and 4.4.2 of the “Stock Listing Rules (2025 Revision),” and is primarily responsible for the Company’s aforementioned violations.

The Shenzhen Stock Exchange expressed hope that Luoniushan and all directors and senior management will seriously learn from this lesson, and reminds the Company and all directors and senior management to strictly comply with laws and regulations such as the “Securities Law” and “Company Law,” as well as the Shenzhen Stock Exchange’s “Stock Listing Rules” and related provisions, to fulfill information disclosure obligations truthfully, accurately, completely, timely, and fairly, and to prevent similar incidents from occurring.

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Editor: Xiao Lang Kuai Bao