A-shares unusual movement | Zhongli Group drops more than 8%, the company and related personnel issued a warning letter

Zhongli Group (002309.SZ) fell 8.3%, trading at 4.53 yuan, with a total market value of 13.625 billion yuan. Zhongli Group announced that the company and relevant personnel recently received a decision issued by the Jiangsu Securities Regulatory Bureau regarding the measures taken against Jiangsu Zhongli Group Co., Ltd. and related personnel, including the issuance of a warning letter. According to the investigation, in an accounting error correction announcement for the first three quarters of 2024 disclosed in 2025, the company corrected the method of recognizing revenue from its photovoltaic business from the gross method to the net method, resulting in reductions to operating revenue in the 2024 Q1, interim report, and Q3 reports of 281 million yuan, 558 million yuan, and 658 million yuan, respectively, and the information disclosure was inaccurate. The Jiangsu Securities Regulatory Bureau decided to take regulatory measures by issuing warning letters to the company’s then-current chairman, Wang Weifeng, and its then-current chief financial officer, Xu Juncheng, and to record the matter in the integrity file for the securities and futures market. (Gelunhui)