• CHI NEEQ investigated a disclosure violation by Gangbao, an innovation tier company.

Violation

• Nanjing Iron and Steel Company, the controlling shareholder of Gangbao, had disclosed its plans to carve out Gangbao's shares for listing on Beijing Stock exchange.
• Gangbao failed to disclose this on the NEEQ website, which was a disclosure violation.
• NEEQ implemented an emergency suspension on the trading of Gangbao shares, and required the companies to make relevant disclosures and explain the incident.
• Gangbao's primary broker Guotai Junan Securities also failed to ensure that the company performed its information disclosure obligations in a timely and fair manner.
• NEEQ took self-regulatory measures in the form of warning letters and interviews.