On September 4, the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as "Jiangsu Securities Regulatory Bureau") issued the "Decision on the Measures of Issuing Warning Letters to Jiangsu Runda Photovoltaic Co., Ltd. (Hereinafter referred to as" Runda Photovoltaic "), Winter and Zhang Anle".
The content shows that the reason why Runda Photovoltaic was punished this time was that it did not disclose the annual report of 2025 as of April 30, 2026, which violated the Regulations on the Management of Information Disclosure of Non-listed Public Companies. Therefore, the Jiangsu Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters to Runda Photovoltaic and Zhang Anle, then chairman of the board of directors and then secretary of the board of directors. It shall be recorded in the credit archives of the securities and futures market.
as of the date of publication, Runda Photovoltaic still did not disclose its annual report for 2025.
Earlier, on April 17, Runda Photovoltaic announced that the company's annual report for 2025 was not expected to be disclosed before April 30 (inclusive). The company explained that the main reason was that it had not signed an audit engagement letter with the audit institution in 2025 and had not carried out substantive audit work . At the same time, Runda Photovoltaic also said that it was not expected to disclose the above periodic reports.
Due to the delay in disclosing the 2025 performance report, Runda Photovoltaic triggered the situation of suspension and laydown.
On April 30, Runda Photovoltaic announced that its shares had been suspended by the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd. (Hereinafter referred to as the "National Stock Transfer Company") since May 6 . However, the company still failed to disclose the above periodic report on June 30, which further triggered the termination of the stock listing. According to the relevant provisions, "the National Stock Transfer Company will make a decision on whether to terminate the listing of the company's shares within 20 trading days after the occurrence of the relevant circumstances, and the specific time of termination of the listing shall be subject to the decision of the National Stock Transfer Company."
Up to now, the official delisting decision of Runda shares has not yet landed .
On June 8, the National Stock Transfer Corporation issued a notice, deciding to downgrade Runda Photovoltaic from the innovation layer to the basic layer from June 16, and not to re-enter the innovation layer within 12 months from the date of adjustment to the basic layer.According to
the data, Runda Photovoltaic was founded in 2009 and listed on the new third board in 2015. Its business covers the development, construction and operation of high-efficiency solar cells , components and photovoltaic power plants.
This also means that Runda Photovoltaic, which has been listed for 11 years , is now one step away from the IPO.
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