Core Viewpoint - *ST Hengjiu has received a warning letter from the Jiangsu Securities Regulatory Bureau due to violations in insider information management, highlighting ongoing regulatory scrutiny and governance issues within the company [2][4]. Group 1: Regulatory Actions - The company has been issued a warning letter for non-compliance with the insider information registrant management regulations, specifically failing to maintain proper registration of insiders [4]. - Key executives, including the former chairman Yu Rongqing and board secretary Zhang Dongyun, are held primarily responsible for these violations [4]. - The Shenzhen Stock Exchange has also issued a regulatory letter to the company and its executives, urging strict adherence to securities laws and accurate information disclosure [4]. Group 2: Company Background and Financial Issues - *ST Hengjiu, officially known as Hengjiu Technology, operates in the imaging consumables and information security sectors, focusing on the development and sales of laser organic photoconductor products [6]. - The company has faced deteriorating management conditions, with a formal investigation initiated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [6]. - In June 2025, the company and its responsible parties were fined a total of 25.5 million yuan for false disclosures in multiple periodic reports from 2019 to 2021, with significant penalties imposed on key individuals [6]. - The company is at risk of delisting, having reported a net profit of -4,710.40 yuan and failing to meet revenue thresholds, leading to risk warnings on its stock [6]. Group 3: Market Performance - As of September 19, the stock price of *ST Hengjiu was 4.77 yuan per share, with a total market capitalization of approximately 1.282 billion yuan [7].

Core Viewpoint - The company received a warning letter from the China Securities Regulatory Commission regarding non-compliance in insider information management [1] Summary by Relevant Categories Company Compliance - The warning letter highlighted issues with the company's management of insider information, specifically regarding the registration of insider information and the completeness of the registration scope [1]

Core Points - *ST Zitian (300280.SZ) announced that its stock will resume trading on September 15, 2025, and enter a delisting preparation period lasting 15 trading days, with the expected last trading date being October 13, 2025 [1] - During the delisting preparation period, the company will not plan or implement any major asset restructuring [1] - Investors and market participants are advised to settle related business before the stock is delisted [1]

Core Viewpoint - *ST Zitian (300280) will resume trading on September 15 and enter a delisting transition period lasting 15 trading days, with the expected last trading date being October 13, 2025 [1] Summary by Relevant Sections Delisting Transition Period - Upon entering the delisting transition period, the stock's name will change to "Zitian Tui," while the stock code remains unchanged. The first trading day of the transition period will not have price fluctuation limits, but subsequent days will have a limit of 20% [4] Reasons for Delisting - The Shenzhen Stock Exchange (SZSE) decided to terminate the listing of *ST Zitian's shares due to the company's failure to rectify false financial reporting as mandated by the China Securities Regulatory Commission (CSRC) [4] - The termination decision was based on the company's inability to disclose corrected financial reports within the required timeframe, leading to a delisting risk warning [4] Financial Misconduct - The CSRC issued an administrative penalty on August 22, 2025, confirming that *ST Zitian inflated revenues by a total of 2.499 billion yuan over two years through various means [5] - In the 2022 annual report, the company inflated revenue by 778 million yuan and profit by 85 million yuan, accounting for 44.59% and 35.99% of total revenue and profit, respectively [5] - The 2023 semi-annual report showed an inflated revenue of 207 million yuan and profit of 79 million yuan, with the inflated profit representing 51.64% of total profit [5] - In the 2023 annual report, the company misreported revenue by 1.721 billion yuan, which constituted 78.63% of total revenue, due to improper accounting methods [5] Additional Violations - Besides financial fraud, *ST Zitian failed to disclose the 2024 annual report on time and obstructed law enforcement, leading to a total fine of 38.4 million yuan for the company and 12 management personnel [6] - The company's stock was suspended from trading on July 21, with the last recorded price at 2.74 yuan per share, resulting in a total market capitalization of 440 million yuan [6]

Core Viewpoint - *ST Zitian (300280) is entering a delisting arrangement period due to serious financial misconduct and will be delisted by the Shenzhen Stock Exchange after the arrangement period ends [3][6][8]. Group 1: Delisting Process - On September 15, *ST Zitian will resume trading and enter a delisting arrangement period lasting 15 trading days, with the last trading date expected to be October 13, 2025 [3]. - During the delisting arrangement period, the stock's name will change to "Zitian Tui," while the stock code remains unchanged. The first trading day will not have price limits, but subsequent days will have a 20% price limit [6]. - The Shenzhen Stock Exchange decided to terminate the company's stock listing due to failure to rectify false financial reporting within the required timeframe [6]. Group 2: Financial Misconduct - The China Securities Regulatory Commission (CSRC) found that *ST Zitian inflated its revenue by a total of 2.499 billion yuan over two years (2022-2023) through various means, including falsifying income in three periodic reports [7]. - In the 2022 annual report, the company inflated revenue by 778 million yuan and profit by 85 million yuan, accounting for 44.59% and 35.99% of total revenue and profit, respectively [7]. - The 2023 semi-annual report showed an early recognition of revenue amounting to 207 million yuan and profit of 79 million yuan, with inflated profit accounting for 51.64% of the total profit for that period [7]. - In the 2023 annual report, the company misclassified revenue from its subsidiary, leading to an inflated revenue of 1.721 billion yuan, which constituted 78.63% of the total revenue for that period [7]. Group 3: Regulatory Actions - In addition to financial fraud, *ST Zitian failed to disclose its 2024 annual report on time and obstructed law enforcement, resulting in a total fine of 38.4 million yuan for the company and 12 management personnel [8]. - The company's stock was suspended from trading on July 21, with the last recorded price at 2.74 yuan per share, giving it a total market value of 440 million yuan [8].

Core Viewpoint - *ST Zitian is entering a delisting adjustment period due to serious financial misconduct, with the last trading date expected to be October 13, 2025 [1][4]. Group 1: Delisting Process - *ST Zitian will change its stock name to "Zitian Tui" during the delisting adjustment period, which lasts for 15 trading days [4]. - The first trading day of the adjustment period will not have price limits, while subsequent days will have a 20% price fluctuation limit [4]. - The Shenzhen Stock Exchange decided to terminate the company's stock listing due to failure to rectify false financial reports within the required timeframe [4]. Group 2: Financial Misconduct - The China Securities Regulatory Commission (CSRC) found that *ST Zitian inflated its revenue by a total of 2.499 billion yuan over two years (2022-2023) through various fraudulent means [5]. - In the 2022 annual report, the company falsely reported 778 million yuan in revenue and 85 million yuan in profit, which constituted 44.59% and 35.99% of the total revenue and profit, respectively [5]. - The 2023 semi-annual report showed an early recognition of 207 million yuan in revenue and 79 million yuan in profit, with the inflated profit accounting for 51.64% of the total profit for that period [5]. - In the 2023 annual report, the company misclassified revenue from its subsidiary, leading to an inflated revenue of 1.721 billion yuan, which represented 78.63% of the total revenue for that period [5]. Group 3: Regulatory Actions - In addition to financial fraud, *ST Zitian failed to disclose its 2024 annual report on time and obstructed law enforcement, resulting in a total fine of 38.4 million yuan for the company and 12 management personnel [6]. - The company's stock was suspended from trading on July 21, with a closing price of 2.74 yuan per share and a total market value of 440 million yuan prior to suspension [6].

Core Viewpoint - The company *ST Hengjiu has elected Liu Rong as the chairman of the sixth board of directors, effective immediately, replacing Lan Shanying as the legal representative and chairman [1] Group 1 - The sixth board of directors' eleventh meeting approved the election of Liu Rong as the chairman [1] - Liu Rong's term will last until the end of the sixth board's term [1] - Lan Shanying will no longer serve as the legal representative and chairman from the date of this announcement [1] Group 2 - The chairman serves as the legal representative of the company according to the company's articles of association [1] - The board has authorized the management to designate personnel to handle the relevant business registration procedures [1]

Group 1 - The article provides a list of Hong Kong listed companies along with their upcoming shareholder meeting dates and earnings announcement dates [1][2][3] - Companies mentioned include Jiangnan Buyi, Zhongguancun Technology Leasing, Huatai Ruilin, and many others, indicating a diverse range of sectors represented [3][4] - Dividend distribution dates are highlighted for several companies, such as Beijing Waterworks Group and Evergrande Group, which may attract investor interest [3][4] Group 2 - The document outlines specific companies that will have their earnings announced or shareholder meetings scheduled, which is crucial for investors tracking performance [3][4] - The inclusion of dividend payment dates for companies like NetEase and Hong Kong Electric indicates potential income opportunities for shareholders [3][4] - The information serves as a resource for investors to plan their investment strategies based on upcoming corporate events [1][2][3]

Core Viewpoint - *ST Zitian has been delisted due to serious financial fraud and failure to rectify false disclosures in its periodic reports [2][4][10] Group 1: Delisting Announcement - On September 5, *ST Zitian announced that it received a decision from the Shenzhen Stock Exchange to terminate its stock listing [4] - The stock will resume trading on September 15 and enter a delisting preparation period lasting 15 trading days, with the expected last trading date on October 13 [4][8] Group 2: Regulatory Actions - On May 20, *ST Zitian was ordered by the China Securities Regulatory Commission (CSRC) to rectify its financial reports due to false disclosures but failed to comply within the required timeframe [7] - The company was subsequently placed under delisting risk warning and did not disclose corrected financial reports within the two-month period, leading to the termination of its listing [7][8] Group 3: Financial Penalties - On August 22, *ST Zitian received an administrative penalty from the Fujian Regulatory Bureau, which included a fine of 8.5 million yuan for false disclosures in its 2022 annual report and 2023 semi-annual report [10] - Key executives, including the chairman and general manager, faced individual fines and were subjected to market bans due to obstructing regulatory investigations [11] Group 4: Compliance Failures - The company failed to effectively compile and disclose its 2024 annual report, leading to further penalties of 3.5 million yuan and additional fines for its executives [11]

Core Viewpoint - The A-share market will see a significant unlock of restricted shares, totaling approximately 966.01 billion yuan, with 40 stocks experiencing share unlocks next week [2]. Group 1: Stock Unlock Details - 40 stocks will have their restricted shares unlocked from September 8 to 12, with a total unlock market value of 966.01 billion yuan [2]. - Among these, 12 stocks have an unlock market value exceeding 10 billion yuan, with notable mentions including Times Electric (278.23 billion yuan), Southern Network Storage (230.81 billion yuan), and BGI Genomics (133.82 billion yuan) [2][4]. - Southern Network Storage and Western Gold are among the stocks with restricted shares unlocked from directed placements, while the other three are from the initial public offering (IPO) original shareholders [2]. Group 2: Unlock Proportions - A total of 13 stocks have an unlock proportion exceeding 10%, indicating a potential impact on their stock prices [5]. - Stocks such as Minshida, Southern Network Storage, Sairun Bio, and Zhejiang Hengwei have unlock proportions above 50% [5]. - The detailed table lists various stocks, their unlock dates, market values, and the proportion of shares being unlocked [7]. Group 3: Company Performance Insights - Times Electric's largest shareholder, CRRC Zhuzhou Electric Locomotive Research Institute, will unlock approximately 590 million shares, accounting for 43.42% of the total share capital [4]. - Times Electric reported a revenue of 12.214 billion yuan for the first half of 2025, reflecting a year-on-year growth of 17.95%, with a net profit of 1.672 billion yuan, up 12.93% [4]. - Minshida, listed on the Beijing Stock Exchange, achieved a revenue of 237 million yuan in the first half of 2025, marking a year-on-year increase of 27.91%, with a net profit of 63.03 million yuan, up 42.28% [8]. Group 4: Institutional Investment Insights - Institutions that participated in the directed placements of stocks like Western Gold and Southern Network Storage are expected to see positive returns from the unlocks, with Western Gold's return exceeding 180% and Southern Network Storage's over 70% [8]. - Among the 40 stocks, 15 are categorized as general equity incentive shares or restricted shares, with companies like Sany Heavy Energy and Zhaoyi Innovation having unlock market values exceeding 1 billion yuan [8].