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CSRC Orders Four Century Huatong Entities to Rectify Unfulfilled Restructuring Commitments

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The China Securities Regulatory Commission has ordered four entities tied to Zhejiang Century Huatong (SHE:002602) to rectify unfulfilled compensation and guarantee obligations linked to a 2019 asset restructuring, according to a Wednesday Shenzhen bourse filing.

The entities, including former controlling shareholder Zhejiang Huatong Holding Group, failed to execute agreements triggered after an acquired subsidiary missed its 2020 performance targets following a downward profit adjustment.

Century Huatong's shares fell more than 2% in recent trade.

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