Sinomach's Related Company Fined for Information Inaccuracies

MT Newswires Live

Aug 18

Sinomach Heavy Equipment (SHA:601399) and Sinomach Precision Industry (SHE:002046) received notice that a related company was fined due to inaccuracies in information, according to Shanghai bourse filings on Tuesday.

The National Financial Regulatory Administration's Beijing branch fined Sinomach Finance 400,000 yuan because of its risk classification of loans was inaccurate and it failed to accurately disclose the quality of its assets.

Sinomach Heavy Equipment's shares fell 2% and Sinomach Precision Industry's rose 2% at the close.

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