Zhejiang Yongan Rongtong Holdings Co. Ltd. is facing an accounting issue related to non-compliance with disclosure and approval requirements under Chapter 20 of the GEM Listing Rules. The issue concerns three advance payments totaling RMB111,726,664 made to Guizhou Yongli Enterprise Management Co., Ltd. and one advance payment of RMB56,000,000 to Zhejiang Yongli Industry Group Co., Ltd. for working capital purposes. As a result, the company's auditor, SHINEWING, has resigned, and trading of the company's shares remains suspended pending full compliance with the GEM Listing Rules and resolution of the issues.

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