National Business Wire (Dec 8) -- Chinese battery giant Gotion High-tech Co. Ltd (002074.SZ) has received warnings from a securities regulator and a stock exchange for failing to timely disclose its investment in the U.S.

The Shenzhen Stock Exchange (SZSE) on Friday issued a regulatory letter to Gotion High-tech, criticizing the company for failing to disclose a U.S. subsidy agreement in a timely manner.

On Sept. 7, the company signed a Reimagining Energy and Vehicles (REV) subsidy agreement with the U.S. state government of Illinois.

However, Gotion High-tech did not disclose this major transaction until Oct. 12, which violated the timeliness requirements for information disclosure by Chinese listed companies.

The SZSE said, "The Exchange hopes that the company and all of its directors, supervisors and senior management will seriously learn a lesson …… to fulfill your disclosure obligations in a truthful, accurate, complete, timely and fair manner, and to prevent the occurrence of this kind of incident."

A day earlier, for the same reason, Anhui Regulatory Bureau of the China Securities Regulatory Commission (CSRC) issued the same warning to Gotion High-tech.

The Anhui branch also announced an administrative measure, summoning Gotion High-tech's chairman, Li Zhen, and vice president, Pan Wang.