*ST Power: Receives Administrative Penalty Decision from Hebei Regulatory Bureau

*ST Power announced that the company and relevant personnel received an administrative penalty decision from the Hebei Regulatory Bureau. An investigation found that from 2020 to 2021, the company failed to truthfully disclose its related-party relationship and related-party transactions with Lion Fund, the relevant interim reports contained false records, and the periodic reports had major omissions. The Hebei Regulatory Bureau decided to order the company to make corrections, issue a warning, and impose a fine of 5 million yuan; impose a fine of 8 million yuan on then actual controller Mao Fengli; issue warnings to then chairman Mao Junliang, then general manager and board secretary Cheng Fangfang, then chief financial officer Zhang Meng, and then board secretary Zong Ran, and impose fines of 4 million yuan, 3.6 million yuan, 3.2 million yuan, and 2 million yuan respectively; and impose a 4-year securities market ban on Mao Junliang and Cheng Fangfang. The company stated that this penalty does not trigger the circumstances for compulsory delisting due to major violations, and its production and operations are currently normal.