CN Healthy Food faces proposed CSRC fines over unfiled offshore listing procedures
Subsidiaries of CN Healthy Food Tech Group received an Advance Notice of Administrative Penalty from a China Securities Regulatory Commission bureau, which found the company did not complete mandatory offshore listing filings before its September 2025 Nasdaq listing via merger with Iron Horse Acquisition Company. The proposed fines would hit the subsidiary and the chief executive, and the filing does not state how the company's operations or finances are affected beyond these amounts.
- CSRC Heilongjiang bureau intends to fine Zhongneng Liangke RMB3,000,000 (approximately $440,000)
- Intended fine of RMB1,500,000 (approximately $220,000) on CEO and chairman Zhenjun Jiang as directly responsible executive
- Notice dated April 24, 2026; subsidiaries have five working days to present a defense and request a hearing