SEC targets SYQH and LZGI over years of missing filings

The SEC opened administrative proceedings September 3 against Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. (SYQH) and LZG International, Inc. (LZGI), alleging failures to file required periodic reports. The SYQH proceeding and LZGI proceeding were brought under Section 12(j) of the Securities Exchange Act of 1934.

The filings put the cases in the disclosure-compliance lane. The SEC alleges both companies failed to meet Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13, which require timely and accurate periodic reporting.

SYQH, CIK No. 710782, is a Delaware corporation located in Shanghai, China. Its last periodic report was a Form 10-Q for the period ending October 31, 2022. As of the proceedings on September 3, 2026, that is about 46 months and three days without another periodic filing.

LZGI, CIK No. 1126115, is a Florida corporation located in New York, New York. It last filed a Form 10-Q for the period ending February 28, 2023. The gap to September 3, 2026 was about 42 months and six days.

The arithmetic matters for holders: both companies went more than three years from their last cited Form 10-Q to the SEC’s action. Those inputs come directly from the filing dates and the September 3 proceeding date; the SEC did not state the elapsed-month figures.

Neither case is framed by the documents as a trading halt already imposed. Unsolicited quotations for SYQH common stock, symbol SYQH, are submitted on OTC Link ATS. The same is true for LZGI common stock, symbol LZGI. The proceedings will determine whether the SEC should suspend, for a period of no more than 12 months, or revoke the registration of each class of securities for either respondent.

That is the direct market consequence. If registration is suspended or revoked, holders and counterparties connected to those registered classes face a regulatory action against the securities’ registration; the filings do not state the current quotation status after the proceedings began.

The desk’s read is narrower: the agency’s September 3 filings show that prolonged reporting gaps remain sufficient to trigger formal proceedings even where the fact sheet identifies only unsolicited OTC Link ATS quotations.

The final outcome remains open. The proceedings will determine whether either company keeps its registration, receives a suspension of up to 12 months, or has registration revoked.