Core Viewpoint - Nine A-shares, including SMIC and Roadbridge Information, have had their financing and securities margin rates adjusted to zero due to their static price-to-earnings (P/E) ratios exceeding 300 or being negative, as part of a dynamic risk control measure by several securities firms [2][5][10]. Group 1: Adjustments and Impact - Multiple securities firms, including Dongfang Caifu Securities and Guorong Securities, confirmed the adjustment of financing and securities margin rates for nine stocks to zero, effective October 9 [2][3]. - Following the announcement, stocks such as SMIC and Roadbridge Information experienced significant declines, with SMIC's A-shares dropping by 0.87% and Roadbridge Information's shares falling by 17.24% [5][6]. - The adjustment means that these stocks temporarily lose their function as collateral for financing, significantly reducing investors' ability to leverage these stocks [5][6]. Group 2: Reasons for Adjustment - The adjustments are based on the rules of the Shanghai, Shenzhen, and Beijing Stock Exchanges, which state that stocks with a static P/E ratio above 300 or negative must have their financing margin rates set to zero [5][10]. - The highest static P/E ratio among the affected stocks was 947 for Roadbridge Information, while SMIC and Baiwei Storage had static P/E ratios of 303 and 301, respectively [7][8]. Group 3: Recovery Conditions - The financing margin rates can be restored if the static P/E ratios of the affected stocks fall below 300 in the future, as demonstrated by other stocks like Sifang Precision and Jikong Co., which had their rates restored after meeting this criterion [10].

Group 1 - The stock of Luqiao Information (920748) experienced a significant decline of 17.24% with a trading volume of 1.27 billion yuan and a price fluctuation of 30.82% on the day [1][2] - The stock was listed on the龙虎榜 due to its price fluctuation, with a net buying amount of 1.8172 million yuan from brokerage seats [2][3] - In the past six months, the stock has appeared on the龙虎榜 seven times, with an average price increase of 5.55% the day after being listed and an average increase of 35.20% over the following five days [3] Group 2 - The top buying brokerage was Guotai Junan Securities Co., Ltd. with a purchase amount of 7.9076 million yuan, while the top selling brokerage was Jianghai Securities Co., Ltd. with a selling amount of 3.8130 million yuan [3] - The total transaction amount of the top five buying and selling brokerages was 38.1543 million yuan, with buying transactions amounting to 19.9858 million yuan and selling transactions amounting to 18.1686 million yuan [2][3]

Core Viewpoint - The company, Luqiao Information, has reported significant financial discrepancies leading to a drastic reduction in its net profit for the fiscal years 2023 and 2024, raising concerns about its internal controls and potential regulatory actions [4][6][9]. Financial Performance - For the fiscal year 2023, the adjusted net profit decreased from 22.56 million to 9.546 million, a decline of 57.68%, while the non-recurring net profit fell from 17.706 million to 4.695 million, a drop of 73.48% [9]. - In 2024, the adjusted net profit plummeted by 83.69%, from 22.812 million to 3.722 million, and the non-recurring net profit saw a staggering decline of 97.82%, from 19.516 million to 0.425 million [10]. - The company reported a significant loss of 24.721 million in the first half of 2025, which is over a 300% increase in losses compared to the previous year [10]. Regulatory Actions - The Xiamen Securities Regulatory Bureau has mandated Luqiao Information to submit a written rectification plan within 30 days and to complete the rectification within 60 days due to major internal control deficiencies related to financial reporting [7][6]. - The company faces potential delisting risks if it fails to rectify the identified issues within the stipulated timeframe [7]. Management Changes - The chairman and general manager of Luqiao Information both resigned due to personal reasons, raising concerns about management stability amid financial turmoil [10][8]. Stock Performance - Despite the financial challenges and management changes, Luqiao Information's stock price has increased by approximately 152% year-to-date, ranking 13th among companies listed on the Beijing Stock Exchange [12].

Market Overview - On September 30, the total trading volume of individual stocks on the Beijing Stock Exchange reached 679 million shares, with a total transaction value of 16.142 billion yuan, a decrease of 0.793 billion yuan compared to the previous trading day [1] - Among the tradable stocks, 108 stocks closed higher, accounting for 39.13% of the total, with notable gainers including *ST Yun Chuang, Tongli Co., and Qifeng Precision, which rose by 13.11%, 5.79%, and 4.85% respectively [1] - Conversely, 162 stocks closed lower, with significant declines seen in Jinhua New Materials, Luqiao Information, and Wuxin Tunnel Equipment, which fell by 12.23%, 6.55%, and 5.91% respectively [1] Trading Activity - A total of 40 stocks had transaction values exceeding 100 million yuan, with Jinhua New Materials, Better Ray, and Wuxin Tunnel Equipment leading at 765.38 million yuan, 469.12 million yuan, and 405.34 million yuan respectively [1] - In terms of trading activity, 10 stocks had a turnover rate exceeding 10%, with one stock exceeding 20%. Additionally, 28 stocks had turnover rates between 5% and 10%, while 220 stocks had turnover rates between 1% and 5% [1] - The stocks with the highest turnover rates included Jinhua New Materials at 49.77%, Lingge Technology at 17.52%, and Tianhong Lithium at 16.39% [1] Notable Stocks - Jinhua New Materials closed at 46.52 yuan with a decline of 12.23% and a turnover rate of 49.77%, leading in transaction value at 765.38 million yuan [1] - Better Ray closed at 33.00 yuan, up by 0.95%, with a turnover rate of 1.28% and a transaction value of 469.12 million yuan [1] - Wuxin Tunnel Equipment closed at 62.05 yuan, down by 5.91%, with a turnover rate of 7.26% and a transaction value of 405.34 million yuan [1]

每经记者｜赵李南 每经编辑｜段炼 文多 路桥信息（BJ837748）近日上演了一场财报"变脸"。 9月29日，路桥信息发布公告称，厦门证监局现场检查发现其与财务报表相关的内部控制存在重大缺陷。 同日，路桥信息发布公告进行会计差错更正。其中，2024年的调整后净利润降幅高达84.91%。 9月30日，路桥信息股价大跌，截至中午收盘已跌超5%。值得注意的是，该公司股价年内经历大起大落，曾在5月末一周暴涨超90%，至6月下旬一度涨至 96.88元，较年初的19.42元涨幅近400%。随后震荡下滑至50元上下。即便如此，该公司年内股价涨幅仍超过130%。 | रेने | 48.38 | | 最高 | 49.10 | | 成交量 | 1.13万手 | | --- | --- | --- | --- | --- | --- | --- | --- | | 昨收 | 49.15 | | 最低 | 46.50 | | 成交额 | 5338万 | | 换手率 | 1.80% | | 市盈(TTM) | | | 总市值 | 35.68亿 | | 4481 | 开日 | 日K | 国K | 日K | 家 | 年K | 面名v | ...

Core Viewpoint - Road Bridge Information (路桥信息) has faced significant financial reporting issues, with a drastic reduction in net profit for 2024 by 84.91% due to major internal control deficiencies identified by the Xiamen Securities Regulatory Bureau [1][5][6]. Financial Adjustments - The company announced a correction of accounting errors, leading to a revised net profit for 2024 from 22.48 million to 3.39 million, a decrease of 19.09 million [2][7]. - The adjusted operating revenue for 2024 was reduced from 240 million to 215 million, a decline of 10.71% [6][7]. - For 2023, the operating revenue was adjusted from 238 million to 222 million, a reduction of 15.84 million, and net profit decreased from 21.58 million to 8.57 million, a drop of 60.29% [7]. Stock Performance - Despite the financial turmoil, the company's stock price has increased over 130% year-to-date, although it has experienced significant volatility, including a surge of over 90% in late May [2][3][6]. - Following the announcement of the financial corrections, the stock price fell by more than 5% on September 30 [2][3]. Regulatory Actions - The Xiamen Securities Regulatory Bureau mandated corrective measures due to the identified internal control deficiencies, which violate relevant securities laws [5][6]. - The company is required to hire a qualified accounting firm to provide a special verification report on the corrections made [7]. Company Response - The board of directors has acknowledged the issues raised by the regulatory body and has conducted a comprehensive self-examination, committing to improve internal controls and governance [6][7].

Core Viewpoint - Road and Bridge Information has faced significant financial reporting issues, leading to a drastic reduction in its projected net profit for 2024 by 84.91% due to major internal control deficiencies identified by the Xiamen Securities Regulatory Bureau [1][2][3]. Financial Adjustments - The company announced a correction of accounting errors, adjusting its 2024 revenue from 240 million yuan to 215 million yuan, a decrease of 25.76 million yuan, or 10.71% [3]. - The net profit for 2024 was revised from 22.48 million yuan to 3.39 million yuan, a reduction of 19.09 million yuan, equating to a decline of 84.91% [3]. - The adjusted net profit after deducting non-recurring items fell from 19.52 million yuan to 425,400 yuan, a staggering drop of 97.82% [3]. Previous Year Adjustments - For 2023, the company's revenue was adjusted from 238 million yuan to 222 million yuan, a decrease of 15.84 million yuan [4]. - The net profit for 2023 was revised from 21.58 million yuan to 8.57 million yuan, reflecting a decline of 60.29% [4]. Regulatory Actions - The Xiamen Securities Regulatory Bureau mandated the company to rectify its financial reporting practices due to violations of the Securities Law of the People's Republic of China and related disclosure regulations [2]. - The company is required to engage a qualified accounting firm to provide a special verification report on the corrections made [4].

证券代码：837748 证券简称：路桥信息 公告编号：2025-108 厦门路桥信息股份有限公司前期会计差错更正公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、更正概述 根据厦门证监局现场检查情况，经公司自查发现 2023 年度、2024 年度收入 利润核算不符合企业会计准则相关规定，导致公司 2023 年、2024 年年度报告披 露的有关财务信息不真实、不准确。公司根据《企业会计准则第 28 号——会计 政策、会计估计变更和差错更正》等有关规定对相关定期报告进行同步更正。 二、表决和审议情况 （一）审计委员会审议 四、审计委员会审议意见 董事会审计委员会认为：本次会计差错更正符合《企业会计准则第 28 号— —会计政策、会计估计变更和差错更正》等有关规定，更正后的财务数据能够更 加公允、准确地反映公司经营状况及财务状况。本次会计差错更正事项及董事会 对该议案的审议和表决程序符合法律法规以及《公司章程》等有关规定，不存在 损害公司及全体股东特别是中小股东利益的情况，同意对前期会计差错予以更 正 ...

金圆统一证券有限公司 关于厦门路桥信息股份有限公司的 2025 年半年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》《北京证券交易所股票上市规则》 等有关法律法规、规范性文件等的规定，金圆统一证券有限公司（以下简称"金 圆统一证券"或"保荐机构"）作为厦门路桥信息股份有限公司（以下简称"公司" 或"路桥信息"）的保荐机构，负责路桥信息的持续督导工作，并出具 2025 年半 年度持续督导跟踪报告。 | 项目 | 工作内容 | | --- | --- | | 1、公司信息披露文件审阅情况 | 保荐机构及时审阅了公司信息披露文件。 | | 2、督导公司建立健全并有效执行规则制度 | 保荐机构督导公司建立健全规则制度，包括但 | | 的情况 | 不限于根据新《公司法》及《上市规则》的规 | | | 定，修改完善公司治理制度。 | | 3、募集资金使用监督情况 | 保荐机构查阅了公司募集资金管理相关制度、 募集资金使用信息披露文件和决策程序文件、 募集资金使用明细账，并对募集资金使用情况 | | | 进行抽查。 | | 4、督导公司规范运作情况 | 保荐机构通过日常沟通、现场核查、访谈、查 | | | 阅资料 ...

金圆统一证券有限公司关于厦门路桥信息股份有限公司 2025 年半年报问询函回复的核查意见 北京证券交易所： 厦门路桥信息股份有限公司（以下简称"路桥信息"、"公司"）于 2025 年 9 月 15 日收到北京证券交易所上市公司监管部下发的《关于对厦门路桥信息股份有限 公司的定期报告问询函》（半年报问询函【2025】第 001 号），公司已披露《厦 门路桥信息股份有限公司前期会计差错更正公告》，对 2023 年和 2024 年定期报 告的财务数据进行了更正。公司根据更正后的财务数据回复了本问询函。保荐 机构基于更正后的数据进行核查，并发表核查意见。前期会计差错更正事项尚 未经会计师事务所鉴证，但该事项不影响保荐机构的核查意见。根据问询函要 求，金圆统一证券有限公司（以下简称 "保荐机构"）对路桥信息关于问询回复的 相关事项进行了审慎核查，具体核查意见如下： 问题 1. 关于营业收入及毛利率 2025 年上半年，你公司实现营业收入 3,044.33 万元，同比下降 53.64%。从细 分业务看，轨道交通、智慧停车、公路与城市交通业务收入分别为 202.88 万元、 1,852.42 万元、636.74 万元，分别 ...