# China's Jinmei Technology Faces Warning for Debt Disclosure Delay

> China's Jinmei Technology and three executives get warning letter for delayed disclosure of 174 million yuan debt default.
- Title: China's Jinmei Technology Faces Warning for Debt Disclosure…
- Summary: China's Jinmei Technology and three executives get warning letter for delayed disclosure of 174 million yuan debt default.
- Keywords: china, jinmei technology, inner mongolia csrc, debt default, financial disclosure, executives, csrc warning letter, 174 million yuan, matured debt, loan grace period, danhuagroup, securities regulation
- Source: BigGo Finance — https://finance.biggo.com/news/9ea6d494-22e1-4810-8915-e025cf3a63fa
- Author: BigGo Finance
- Published: 2026-10-17T06:55:21+00:00
- Read time: 2 min
- Topics: china, jinmei technology, inner mongolia csrc, debt default, financial disclosure, executives, csrc warning letter, 174 million yuan, matured debt, loan grace period, danhuagroup, securities regulation
## Regulatory Warning Issued
China's Jinmei Technology received a warning letter from the Inner Mongolia Bureau of the China Securities Regulatory Commission for failing to promptly disclose a 174 million yuan debt default that occurred when the obligation matured…
## Three Executives Held Accountable
Then-chairman Jiang Tao, general manager Cheng Guojun, and board secretary Song Zhuo were also held accountable and had the violation recorded in their credit files.
## Debt Default Details
The debt consisted of financial assistance provided by Danhua Group, the company's second-largest shareholder, totaling 174 million yuan (approximately $26.0 million).
## Delayed Disclosure
Jinmei Technology first disclosed repayment arrangements only in its April 30 annual report and did not issue a standalone announcement on the grace period agreement until May 15.
## Regulatory Violation
The Inner Mongolia CSRC Bureau found the company violated Article 3, Paragraph 1 and Article 23, Paragraph 2, Item 1 of the Measures for the Administration of Information Disclosure by Listed Companies.
## Loan Background
Danhua Group provided seven tranches of financial assistance to Jinmei Technology starting in August 2023, with total principal of 151 million yuan (approximately $22.6 million) and annualized interest rates ranging from 6.5% to 7%.
## Grace Period Agreement
Following negotiations, Danhua Group agreed to extend the loan principal repayment deadline until the company receives proceeds from its private placement of shares, for a maximum period of 12 months.
## Financial Performance
Jinmei Technology reported first-half 2026 revenue of 478 million yuan (approximately $71.5 million) and net profit attributable to shareholders of 20.41 million yuan (approximately $3.1 million), swinging to profitability.
## Regulatory Action
The Inner Mongolia CSRC Bureau decided to issue warning letters to the company and the three individuals as an administrative regulatory measure and record the matter in the securities and futures market credit archives.
## Consequence
Jinmei Technology will submit a written report within the prescribed timeframe, strengthen its study of relevant laws and regulations, and improve internal control systems to fulfill information disclosure obligations.
## Key takeaway

China's Jinmei Technology and three executives received a warning letter from Inner Mongolia CSRC for failing to disclose a 174 million yuan debt default that matured on March 31, 2026.