RegulatoryApr 29, 2026, 06:13 AM
UCFI Subsidiaries Fined $660K by CSRC for Listing Violation
AI Summary
CN Healthy Food Tech Group Corp. (UCFI) announced that its subsidiaries, Zhong Guo Liang Tou Group Limited and Heilongjiang Zhongneng Liangke Agricultural Technology Co., Ltd., received an Advance Notice of Administrative Penalty from the CSRC. The penalty stems from the company's failure to complete mandatory offshore listing filing procedures before its Nasdaq listing in September 2025. The CSRC intends to impose fines totaling approximately $660,000 on Zhongneng Liangke and CEO Mr. Zhenjun Jiang for violating trial administrative measures. The company and Mr. Jiang are reviewing the notice and considering their next steps.
Key Highlights
- UCFI subsidiaries received an Advance Notice of Administrative Penalty from the CSRC.
- Penalty for failing to complete mandatory offshore listing filing procedures before Nasdaq listing in September 2025.
- CSRC determined violations of Articles 13 and 19(1) of Trial Administrative Measures.
- Zhongneng Liangke faces a fine of RMB3,000,000 (approximately $440,000).
- CEO Mr. Zhenjun Jiang faces a fine of RMB1,500,000 (approximately $220,000).
- Total fines amount to approximately $660,000.
- Zhongneng Liangke and Mr. Jiang have five working days to present a defense or request a hearing.
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