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Tianyuan Group Receives Warning Letter from Sichuan Securities Regulator for Delayed Disclosure on May 22

GateNews

2026-05-22 11:38:32

Tianyuan Group received a warning letter from China Securities Regulatory Commission's Sichuan bureau on May 22 for failing to promptly disclose investment gains. The company's joint venture, Guangzhou Libao New Materials, lost control of Yibin Libao New Materials on September 21, 2023, generating significant investment income that should have been disclosed immediately. However, the disclosure was delayed until October 31, 2023, when it appeared in the third-quarter report. Former Chairman Luo Yun, President Liao Zhoukong, and Board Secretary He Bo bear primary responsibility. The regulator imposed a warning letter against the company and the three executives, with records entered into the securities and futures market integrity database.

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