On 1 July 2020, BaFin imposed administrative fines totaling 672,000 euros on United Power Technology AG.
The sanction related to breaches of section 115 (1) sentence 1 and sentence 2 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG).
United Power Technology AG failed to make its half-yearly financial report for the financial year 2019 publicly available.
United Power Technology AG failed to publish an announcement, stating the date and the website on which the half-yearly financial report for the financial year 2019 were made publicly available in addition to its availability in the Company Register (Unternehmensregister).
The company may lodge an appeal against the administrative fine order.