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Anhui Securities Regulatory Bureau official website

August 16,The official website of the Anhui Securities Regulatory Bureau announced a decision to order Anhui Bosch Environmental Protection Technology Co., Ltd. (300422) (hereinafter referred to as the "Company") to correct its mistakes and issue a warning letter.

In accordance with the "Rules for On-site Inspection of Listed Companies" (CSRC Announcement [2022] No. 21) and other regulations, the Anhui Securities Regulatory Bureau conducted an on-site inspection of the company and found that the company had the following violations:

First, the provision for bad debts was not prudent.In the third quarter report of 2023, the company failed to carefully evaluate the actual ability of customers to collect payments, and adjusted the bad debt provision of related projects from single-item provision to normal provision according to contract terms based solely on customer replies, which was not in compliance with Article 46 of "Enterprise Accounting Standard No. 22 - Recognition and Measurement of Financial Instruments" (Accounting [2017] No. 7) and Article 3 of the "Regulations on Information Disclosure of Listed Companies" (CSRC Order No. 182).

Second, the classification of accounts receivable and contract assets is inaccurate.In the third quarter report of 2023, the company reclassified the funds originally included in accounts receivable of the relevant projects as contract assets simply based on the agreement with the customer not to urge payment for the time being, which is not in compliance with Article 41 of "Enterprise Accounting Standard No. 14 - Revenue" (Accounting [2017] No. 22) and Article 3 of the "Regulations on Information Disclosure of Listed Companies".

Third, the freezing of the raised funds account was not disclosed in a timely manner.On February 28, 2022, the special account for the raised funds of its subsidiary Hunan Bosch Environmental Protection Technology Co., Ltd. was frozen by the court for RMB 25.6 million. The company did not disclose it until April 20, 2023, which was not in compliance with Article 3 and Article 22 of the Measures for the Administration of Information Disclosure of Listed Companies.

According to Article 52 of the “Administrative Measures for Information Disclosure of Listed Companies”,The Anhui Securities Regulatory Bureau decided to take administrative supervision measures against the company, ordering it to make corrections and issuing a warning letter, and record it in the securities and futures market integrity file.

Source | Anhui Securities Regulatory Bureau official website