Horace and several executives have been issued a warning letter by the Beijing Securities Regulatory Bureau for failing to comply with information disclosure regulations. The arrest of the company's controlling shareholder, Dai Baolin, on suspicion of bribery triggered an investigation into the company itself. However, this critical information was not disclosed promptly. Both the company and the responsible individuals have acknowledged receipt of the "Warning Letter" and are committed to submitting a comprehensive rectification report. Furthermore, the company's revenue for the first half of the year experienced a significant decline of 46.6% compared to the previous year, resulting in a net profit loss of 33.7149 million yuan.
