Listed Enterprise: Start Up Co., Ltd., Received The Warning Letter From Zhejiang Securities Regulatory Bureau

On May 29, the domestic children's wear listed enterprise Start-ups Co., Ltd. issued a notice on the warning letter received by the company and relevant personnel from Zhejiang Securities Regulatory Bureau. The content of the notice showed that:

Start-ups Co., Ltd. (hereinafter referred to as "the Company") has recently received the Decision on Issuing Warning Letter Measures for Start-ups Co., Ltd. and Relevant Responsible Personnel ([2024] No. 91) (hereinafter referred to as "the Warning Letter") issued by Zhejiang Regulatory Bureau of the China Securities Regulatory Commission. The relevant contents are hereby announced as follows:

On January 31, 2024, Start-ups Co., Ltd. (hereinafter referred to as "the Company") disclosed the Forecast of Annual Performance Loss in 2023. It is estimated that in 2023, the net amount attributable to shareholders of the listed company will be between RMB 110 million and RMB 460 million. On April 24, 2024, the Company disclosed the Announcement on Correction and Apology of Annual Performance Forecast for 2023. It is estimated that the net amount of * * * attributable to shareholders of the listed company in 2023 will be about - 660 million yuan. Inaccurate disclosure and untimely correction of the Company's performance forecast related information.

Main business of Qibu Co., Ltd.: Since its establishment in 2009, it has been focusing on the design, research and development, production organization and sales of children's shoes, children's clothing and children's clothing accessories, and its main business has not changed significantly. The product is mainly positioned in the mid market, targeting children aged 3-13 years. In terms of children's shoes, children's clothing and children's clothing accessories, the company adopts the outsourcing production mode, and its main products are children's leather shoes, sports shoes and various children's clothing and clothing accessories.

Business data in 2023: In 2023, the main business of the company has not changed significantly. The company realized an operating revenue of 267702900 yuan, down 23.84% from the previous year; Net amount of * * * - 655842400 yuan attributable to shareholders of the Company; Net cash flow from operating activities was -31.353 million yuan, a decrease of 208.133 million yuan over the previous year; By the end of 2023, the owner * * * belonging to the shareholders of the parent company was RMB 61.2931 million, down - 90.23% from the end of the previous year.

Warning letter processing results

The above behavior of the Company violates Article 3 of the Administrative Measures for Information Disclosure of Listed Companies (CSRC Order No. 182). Chen Lihong, the chairman of the board of directors, Sun Bing, the general manager, Rao Congmei, the chief financial officer, and Zhang Shengwang, the secretary of the board of directors, have violated Articles 4 and 51 of the Administrative Measures for Information Disclosure of Listed Companies (CSRC Order No. 182) and are mainly responsible for the above violations. In accordance with Article 52 of the Administrative Measures for Information Disclosure of Listed Companies (CSRC Order No. 182), our bureau has decided to take the supervisory and administrative measures of issuing warning letters to you and record them in the integrity file of the securities and futures market. You should carefully learn lessons, strengthen the study of securities laws and regulations, strictly implement the financial and accounting management system, improve the standard operation level and information disclosure quality of the company, and submit a written rectification report to our bureau within 10 working days from the date of receiving this decision.

If you are not satisfied with the supervision and management measures, you can apply for administrative reconsideration to the China Securities Regulatory Commission within 60 days from the date of receiving this decision, or you can file a lawsuit to the people's court with jurisdiction within 6 months from the date of receiving this decision. During the period of reconsideration and litigation, the above supervision and management measures shall not be suspended.

Content source: ST Start: Announcement on the receipt of warning letter from Zhejiang Securities Regulatory Bureau by the company and relevant personnel (Announcement No.: 2024-071)

Content source: ST start: 2023 annual report