Chuhai Vision has learned that Xiamen's leading seller, Jihong Shares, received a warning letter from the Xiamen Securities Regulatory Bureau for failing to disclose a related-party transaction of 156 million yuan in a timely manner!

According to the announcement, in the fiscal year 2025, Jihong Shares had a related-party transaction of 1.56 billion yuan with the related party AJT Printing and Packing FZ-LLC, accounting for 7.06% of the absolute value of the company's most recent audited net assets. However, Jihong Shares did not fulfill the related-party transaction review procedures and information disclosure obligations as required.

The above behavior violates the provisions of Article 3, Paragraph 1, and Article 42 of the "Administrative Measures for Information Disclosure of Listed Companies" (CSRC Order No. 226).

As Chuhai Vision understands, AJT Printing and Packing FZ-LLC is an overseas enterprise established by Jihong Shares through a joint venture (AJT HOLDING INTERNATIONAL LIMITED) in the United Arab Emirates to expand its packaging business in the Middle East.

In April last year, the Xiamen Development and Reform Commission publicly disclosed the filing information of Jihong Shares' establishment of the AJT Printing & Packaging FZ-LLC project in the United Arab Emirates on its official website.

In response, Jihong Shares stated that after receiving the aforementioned administrative supervision measures decision, the company and relevant responsible personnel attached great importance to the issues pointed out in the decision and would strictly follow the requirements of the Xiamen Securities Regulatory Bureau to take effective measures to rectify the relevant matters and submit a written rectification report to the Xiamen Securities Regulatory Bureau within the prescribed time.

Jihong Shares is a leading listed seller in Xiamen's cross-border e-commerce industry. The 2025 financial report shows that its operating income was approximately 6.722 billion yuan, a year-on-year increase of 21.56%; it realized a net profit attributable to shareholders of the listed company of approximately 277 million yuan, a year-on-year increase of 52.16%.

In addition to its traditional main business of packaging, its cross-border social e-commerce business has also developed rapidly. In 2025, Jihong Shares' e-commerce business revenue reached 3.36 billion yuan, accounting for 60.87%.

Seller's Home Review

Jihong Shares was warned for violating information disclosure regulations regarding a 156 million yuan related-party transaction, sounding the alarm for compliance again. Sellers should take this as a lesson, strictly sort out internal related-party transactions and information disclosure processes, and avoid regulatory risks and brand reputation losses due to internal control negligence.

Source: Chuhai Vision
Original Link: http://chsynews.com/?news_16/784.html