Rainbow Co., Ltd. received a warning letter: due to the known signs of significant impairment of the base plate glass production line, but failed to fulfill the letter Phi obligation in time
Financial Associated Press, Dec. 17 (Xinhua) -- rainbow shares announced that Shaanxi regulatory bureau of China Securities Regulatory Commission decided to take regulatory measures to issue warning letters to the company and Chen Zhongguo, Li Miao and long Tao. On August 28, 2020, the company disclosed an announcement to explain the provision for impairment of 771 million yuan for substrate glass production lines with signs of impairment. In June 2020, the company learned that significant impairment of substrate glass production line would lead to significant impairment loss of assets, but failed to fulfill the obligation of information disclosure in time.
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