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LUXSHARE PRECISION (002475.SZ) Fined RMB0.9M by State Administration for Market Regulation
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The State Administration for Market Regulation has issued an administrative penalty decision against LUXSHARE PRECISION (002475.SZ) for illegally implementing a concentration of undertakings in its acquisition of part of the businesses of *ST WINGTECH (600745.SH). LUXSHARE PRECISION was legally obligated to file a prior notification for the concentration of undertakings but failed to do so before implementation, in violation of Article 26 of the Anti-Monopoly Law, thereby constituting an illegal implementation of a concentration of undertakings. Pursuant to Article 33 of the Anti-Monopoly Law, the assessment concluded that the transaction does not have the effect of eliminating or restricting competition. In accordance with Articles 58 and 59 of the Anti-Monopoly Law and Articles 5, 6, 7 and 9 of the Benchmark for Discretion in Administrative Penalties for Illegal Implementation of Concentration of Undertakings (Trial), the authority comprehensively considered the nature, extent and duration of the violation, as well as the circumstances relating to the elimination of the consequences of the illegal conduct. LUXSHARE PRECISION voluntarily reported the illegal concentration before the authority became aware of the conduct, which constituted grounds for a lighter penalty. In addition, after discovering the violation, the company actively rectified the issue, improved its anti-monopoly compliance management system and effectively implemented relevant measures. The authority therefore decided to impose an administrative fine of RMB900,000 on LUXSHARE PRECISION. (jl/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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