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IDT Int'l (00167) INED gets administrative penalties by CSRC
IDT International (00167) said the China
Securities Regulatory Committee (CSRC) has issued a formal decision of administrative
penalties against Shenji Group Kunming Machine Tool Company (00300) and its directors and
senior management, including Yang Xiongsheng, an independent non-executive Director and
the chairman of the audit committee of IDT International, regarding information disclosure
irregularities and breach of securities laws and regulations.
  Yang was at the material time an independent non-executive director and chairman of the
audit committee of Shenji. From 2013 to 2015, Shenji falsely increased its revenue and
profit and made false disclosure in its 2013 to 2015 annual reports. The CSRC decided,
among other decisions, to give a warning to and imposed a fine of Rmb30,000 on Yang.

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