ST Baoli: Received the "Administrative Penalty Pre-notification Letter" from the Hunan Securities Regulatory Bureau.

ST Baoli announced on the evening of May 30 that on May 29, the company received a "Notice of Administrative Penalty Notification" issued by the Hunan Securities Regulatory Bureau. The notice stated that the company failed to disclose non-operational fund use as required. The Hunan Securities Regulatory Bureau intends to make the following decisions: order the company to make corrections, give a warning, and impose a fine of 4 million yuan. The former chairman and CEO, Wang Hairong, will be warned and fined 6 million yuan. Due to the serious nature of Wang Hairong's violation, he will be banned from the securities market for 3 years. The vice president, Wang Wei, will receive a warning and a fine of 800,000 yuan. The vice president, Yu Lanjian, will receive a warning and a fine of 500,000 yuan.