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Zhejiang Huatie Emergency Equipment Faces China Administrative Penalties for Information Disclosure Violations

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China's securities regulator penalized Zhejiang Huatie Emergency Equipment Science & Technology (SHA:603300) and its officials for information disclosure violations, according to a Wednesday filing with the Shanghai bourse.

The administrative penalty stems from the failure of subsidiary Hainan Huatie Bumblebee Construction Machinery Equipment to deliver on a computing power service contract for 3.69 billion yuan.

The subsidiary signed two extension agreements to move the deadline but failed to disclose the contract extension to regulators, the company said in its filing.

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