Eastern Pioneer Driving School Slapped With 1.8 Million Yuan Fine for Incorrect Earnings Information

MT Newswires Live

May 21

Eastern Pioneer Driving School (SHA:603377) was ordered to pay a fine of 1.8 million yuan for incorrect information in its 2022 earnings profit, according to a Shanghai bourse filing on Thursday.

The China Securities Regulatory Commission found that the automobile driving school company posted an incorrect profit in 2022 after failing to properly account the land leasing business of its subsidiary, Chongqing Dongfang Shishang.

Some of the company's directors were also fined from 800,000 yuan to 1 million yuan.

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