Shenzhen Stock Exchange has issued a regulatory letter to Zhejiang Lanyu Digital
Technology Co., Ltd. and related parties for failing to follow required board
review procedures on cash management of idle raised funds from Jan. 15, 2026.
The company only convened a board meeting on April 27, 2026 to perform a
supplementary review and disclosed that chairman and general manager Guo
Zhenrong and financial director and board secretary Tu Ning failed to fulfill
their duties, in breach of applicable regulations.
