Core Points - The stock price of Shanghai Fudan Fuhua Technology Co., Ltd. experienced an abnormal fluctuation, with a cumulative decline exceeding 12% over three consecutive trading days [1] - The company conducted a self-examination and consulted with its controlling shareholder and actual controller, confirming that there are no undisclosed significant information as of the announcement date [1] - The company reported that there are no major changes in daily operations or external environment, and no clarifications are needed regarding media reports, market rumors, or hot concepts [1] Risk Factors - The company highlighted multiple risks, including market trading risks and operational risks, noting that the net profit for the first half of 2025 was negative [1] - The company received a notice of punishment on September 19, leading to the implementation of additional risk warnings on its stock [1] - The company advised investors to make rational investment decisions and to be aware of the associated risks [1]

Group 1 - ST Fuhua experienced a limit down, marking its sixth consecutive trading day of decline, with a total drop of 26.5% over these six days [2]

Core Viewpoint - ST Fuhua has faced significant challenges leading to a stock price drop and a halt in trading, primarily due to continuous losses, financial violations, and a decline in its pharmaceutical segment [2]. Group 1: Company Performance - As of the first half of 2025, ST Fuhua reported a net profit of -7.12 million and a non-recurring net profit of -11.64 million, indicating ongoing financial struggles [2]. - The pharmaceutical segment experienced a revenue decline of 7.57%, heavily impacted by centralized procurement policies, with Jiangsu Fuhua Pharmaceuticals incurring a loss of 13.48 million [2]. Group 2: Regulatory and Market Impact - The company disclosed violations in its annual reports from 2019 to 2023 on September 20, 2025, which severely damaged its reputation and investor trust [2]. - On September 23, 2025, the stock was designated as ST, reflecting the company's regulatory issues and operational problems, leading to increased downward pressure on the stock price [2]. Group 3: Market Sentiment and Technical Analysis - On September 25, 2025, a new "low-price" concept was introduced, but it did not lead to any substantial improvement in the company's fundamentals, making it difficult to boost the stock price [2]. - The stock was included in the "Dragon and Tiger List" on the same day, but given its ST status, this was likely a result of short-term speculative trading rather than a sustainable positive outlook [2]. - Recent negative events have raised investor concerns, leading to a potential outflow of funds, and there is caution regarding the upcoming quarterly report, which could further pressure the stock price if fund flows remain poor [2].

New Stock Issuance - New stock issuance for Daoshengtianhe (Code: 780026) priced at 5.98 RMB on September 29, 2025[1] - Offer period for the acquisition of Shangwei New Materials (Code: 688585) is from September 29, 2025, to October 28, 2025[1] Delisting and Trading Alerts - Zitian Tui (Code: 300280) is in the delisting preparation period with 4 trading days remaining until the last trading day[1] - Significant abnormal fluctuations reported for Kaipu Cloud (Code: 688228) on September 25, 2025[1] Recent Announcements - Multiple companies including Zhonghuan Hailu (Code: 301040) and Shenhuafa A (Code: 000020) have recent announcements regarding their stock activities[1] - A total of 30 companies have made announcements regarding stock fluctuations and trading activities in the past week[1]

上海复旦复华科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： https://roadshow.sseinfo.com/） 证券代码：600624 证券简称：ST 复华 公告编号：2025-051 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 09 日(星期四) 至 10 月 15 日(星期三)16:00 前登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 forward@forwardgroup.com 进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 上海复旦复华科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 30 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 16 日（星期四）下午 15:00-16:00 举行 2025 ...

Group 1 - ST Fuhua (600624) received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) for false financial reporting in 2019, 2020, and 2023 [1] - The false records may provide grounds for some shareholders to seek compensation [1] - According to lawyer Xu Jin, investors can file civil compensation lawsuits without prior procedures due to new judicial interpretations regarding securities false statements [1] Group 2 - The tentative conditions for compensation include investors who purchased shares between April 25, 2020, and August 5, 2024, and sold or held them at a loss after August 6, 2024 [1] - Investors are advised to prepare specific materials for the compensation process, including a copy of their ID, confirmation of securities account opening, and transaction records [1]

Core Viewpoint - Several listed companies have received administrative penalty notices from local securities regulatory authorities due to various violations, indicating a continuous effort to purify the capital market ecosystem [1][3]. Group 1: Violations and Consequences - ST Chuangyi's violation involved revenue recognition, leading to an overstatement of revenue by 267.8464 million yuan in 2022 and 124.7034 million yuan in the first half of 2023 [3]. - ST Juewei failed to recognize revenue from franchise store renovations from 2017 to 2021, resulting in understated revenue by 5.48%, 3.79%, 2.20%, 2.39%, and 1.64% for the respective years [3]. - KJY's violation involved unauthorized guarantees totaling 150 million yuan provided by its wholly-owned subsidiary without proper board and shareholder approval [3]. - ST Fuhua was found to have false records in its annual reports for 2019, 2020, and 2023 [4]. - ST Sike Rui used three methods to commit financial fraud, resulting in an inflated revenue of 9.9604 million yuan in its 2022 annual report [5]. Group 2: Regulatory Actions - ST Sike Rui, ST Fuhua, ST Chuangyi, and ST Juewei will have their stocks subjected to risk warnings starting September 23, with trading limitations imposed [7]. - ST Chuangyi, being a ChiNext stock, will have a daily price fluctuation limit of 20%, while the other three companies will have a limit of 5% [7]. - KJY, while receiving a penalty notice, did not meet the criteria for ST designation as its violations did not involve financial data falsification [7]. Group 3: Investor Rights and Compensation - Investors affected by the violations can seek compensation through legal means, with specific buy-sell intervals established for each company to qualify for claims [8][9]. - The buy-sell intervals for KJY, ST Sike Rui, ST Fuhua, ST Chuangyi, and ST Juewei have been clearly defined, allowing eligible investors to pursue their rights [8][9].

证券代码：600624 证券简称：ST 复华 公告编号：临 2025-050 上海复旦复华科技股份有限公司 股票交易异常波动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： ●上海复旦复华科技股份有限公司（以下简称"公司"或"本公司"）股票 在 2025 年 9 月 23 日、9 月 24 日、9 月 25 日连续三个交易日收盘价格跌幅偏离 值累计超过 12%，根据《上海证券交易所交易规则》的有关规定，属于股票交易 异常波动。 ●经公司自查，并书面征询控股股东及实际控制人，截至本公告披露日，确 认不存在应披露而未披露的重大信息。 ●公司敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 一、股票交易异常波动的具体情况 本公司股票在 2025 年 9 月 23 日、9 月 24 日、9 月 25 日连续三个交易日收 盘价格跌幅偏离值累计超过 12%，根据《上海证券交易所交易规则》有关规定， 属于股票交易异常波动。敬请广大投资者注意二级市场交易风险，理性决策，审 慎投资。 二、本公司关注并核实的相关情况 ...

Core Points - Shanghai Fudan Fuhua Technology Co., Ltd. received a notice of investigation from the China Securities Regulatory Commission (CSRC) on August 5, 2024, due to suspected violations of information disclosure laws [1] - The company was found to have false records in its 2019, 2020, and 2023 annual reports, which constitutes violations of the Securities Law [2] - Investors who purchased shares between April 25, 2020, and August 5, 2024, may voluntarily register for compensation through the "Sina Investor Rights Protection Platform" [1][2][3] Summary by Sections Investigation and Legal Actions - The CSRC decided to initiate an investigation against the company based on suspected violations of the Securities Law and Administrative Penalty Law [1] - The company received an administrative penalty notice from the Shanghai Regulatory Bureau of the CSRC, indicating that it had committed violations related to false disclosures in its annual reports [2] Investor Compensation - Affected investors who held shares during the specified period are eligible to register for compensation, regardless of whether they sold their shares after August 6, 2024 [3] - The specific compensation range will be determined by the court [3]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) maintains a "zero tolerance" policy towards financial fraud and information disclosure violations, focusing on ensuring the authenticity, accuracy, and completeness of disclosures [1][6]. Group 1: Regulatory Actions - Four listed companies, including Sike Rui (688053), Chuangyi Information (300366), Fudan Fuhua (600624), and Kejingyuan (301372), received administrative penalty notices from the CSRC for information disclosure violations [1][3][4][5]. - Sike Rui is facing a warning and a fine of 2 million yuan for fabricating sales business and false records in its 2022 annual report, with its stock to be marked as ST (Special Treatment) [3]. - Chuangyi Information is proposed to be fined 4 million yuan for recognizing revenue improperly in its 2022 and 2023 reports, also leading to an ST designation [3]. - Fudan Fuhua will incur a fine of 4 million yuan for false records in its annual reports from 2019 to 2023, resulting in an ST designation [4]. - Kejingyuan failed to disclose a significant guarantee amounting to 150 million yuan, leading to potential penalties [5]. Group 2: Investor Rights and Compensation - The CSRC's intensified enforcement actions may allow investors who suffered losses due to these violations to seek compensation [6]. - Investors can register their losses through platforms like "Suo Pei Tong" or "Investment Litigation Circle" for potential claims [6][7]. - There is an increase in lawsuits related to financial fraud, with approximately 136 stocks currently involved in compensation claims [7].