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Giant Network: Received the Administrative Supervision Decision Letter from Chongqing Securities Regulatory Bureau
Giant Network Announcement, the company received the “Administrative Supervision Measures Decision” issued by the Chongqing Regulatory Bureau of the China Securities Regulatory Commission on April 29, 2026.
Upon investigation, the company was found to have violated regulations, and in September 2020, the company’s wholly-owned subsidiary transferred 100% equity of Hefei Lingxi Interactive Network Technology Co., Ltd. to Shanghai Zhuoxian Interactive Network Technology Co., Ltd., and the funds for the equity transfer paid by Shanghai Zhuoxian were sourced through the company’s related parties.
Related parties provided funding loans to facilitate the completion of this transaction, and they were co-participants in this transaction.
The company did not follow the required procedures for related-party transaction review and information disclosure regarding the above transaction.