Core Points - Multiple listed companies received regulatory notices regarding suspected violations of information disclosure laws and regulations on November 28 [1][4][8][11][17] Group 1: Haide Co., Ltd. - Haide Co., Ltd. received a notice from the CSRC for suspected information disclosure violations, leading to an investigation of the company and its actual controller Wang Guangxi [1] - The company acknowledged historical non-operating fund occupation, which was fully returned by April 24, and has since implemented training and corrective measures to improve compliance and disclosure quality [1] Group 2: Tianfeng Securities - Tianfeng Securities also received a notice from the CSRC for suspected information disclosure violations and illegal financing [4] - The company stated that its operations are normal and it will cooperate with the investigation while adhering to disclosure obligations [4] Group 3: Yuanda Intelligent - Yuanda Intelligent received a preliminary penalty notice from the Liaoning Securities Regulatory Bureau for falsely recognizing elevator sales revenue using forged acceptance certificates, affecting multiple annual reports [8] - The bureau plans to issue a warning and impose a fine of 6 million yuan on the company [8] Group 4: Puli Pharmaceutical - Puli Pharmaceutical, which has been delisted, received a preliminary penalty notice for failing to disclose its 2024 annual report on time [11] - The company is facing a warning and a fine of 500,000 yuan from the Hainan Securities Regulatory Bureau [11] Group 5: ST Shenhua - ST Shenhua received an administrative penalty decision from the Liaoning Securities Regulatory Bureau for manipulating financial data from 2018 to 2021, resulting in false records in annual reports [17][18] - The company was fined 7 million yuan and received a warning, with penalties also proposed for other involved parties [17][18]

Group 1 - Multiple listed companies received notices from regulatory authorities regarding suspected violations of information disclosure laws [1][4][7] - Haide Co. is under investigation by the CSRC for suspected information disclosure violations, with its actual controller Wang Guangxi being investigated [1] - Tianfeng Securities also received a notice from the CSRC for suspected information disclosure violations and illegal financing [4] Group 2 - Yuanda Intelligent received a pre-penalty notice from the Liaoning Securities Regulatory Bureau for falsely reporting sales revenue in multiple annual reports [7] - Puli Pharmaceutical, which has been delisted, received a pre-penalty notice for failing to disclose its 2024 annual report on time [10] - ST Shenhua was fined 7 million yuan for false records in its annual reports from 2018 to 2021, with the company correcting its financial data [13][14]

Key Points - ST立方's stock will be subject to delisting risk warning and will be suspended [1] - Tongde Chemical has been listed as a dishonest executor [1] - Shengke Nano's subsidiary plans to invest approximately 500 million yuan in the "Qingdao Testing and Analysis Capability Improvement Project" [1] - Pinggao Electric has won a bid for a 773 million yuan project from the State Grid [1] - Bright Dairy intends to acquire 40% of Xiaoxiniu for about 500 million yuan [1] - Jianbang Co. plans to repurchase shares worth 15 million to 30 million yuan [1] - China Jushi's controlling shareholder plans to increase its stake by 550 million to 1.1 billion yuan [1] - Xinyuan Intelligent Manufacturing plans to raise no more than 140 million yuan through a private placement [1] - Tianfeng Securities is under investigation by the CSRC for suspected information disclosure violations [1][2]

11月28日晚间，天风证券（601162.SH）突发公告称，因涉嫌信息披露违法违规、违法提供融资，证监会决定对公司立案。目 前，公司各项生产经营活动正常有序开展。 21世纪经济报道获悉，此次监管立案与天风证券2022年年度报告中披露的原民营大股东资金占用事项有所关联。过往公告显 示，2022年底该占用资金及利息已全部归还。 近年来，天风证券一直努力与深陷债务危机的"当代系"进行切割，意图甩脱"历史包袱"。市场分析人士认为，此次立案或标志 着困扰天风证券多年的历史包袱终于要画上句号。 在处理历史遗留问题的同时，在湖北国资湖北宏泰集团控股后，天风证券走上了"二次创业"之路。今年前三季度，公司基本面 持续向好，实现归母净利润为1.53亿元，同比扭亏为盈，上年同期净亏损5.36亿元。 涉"当代系"占用公司资金事项 历史遗留问题"靴子落地" 回溯来看，天风证券2022年年报曾披露，公司原直接和间接持股合计5%以上股份的股东武汉当代科技产业集团股份有限公司 （简称"当代集团"）通过第三方主体占用公司资金。 截至2022年12月31日，占用资金及利息已全部归还。其中，2020年度累计付款额（不含利息）14.75亿元，累计偿 ...

Core Viewpoint - Tianfeng Securities is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations related to information disclosure and illegal financing, although the company's operations continue normally [1][2]. Group 1: Regulatory Investigation - The investigation is linked to issues disclosed in Tianfeng Securities' 2022 annual report regarding the original private major shareholder's fund occupation [2][5]. - The company has returned all occupied funds and interest by the end of 2022, with total payments from 2020 to 2022 amounting to 14.75 billion yuan, 6.95 billion yuan, and 19.03 billion yuan respectively, along with interest totaling 105.76 million yuan [5][6]. - The initiation of the investigation confirms market expectations that regulatory action was imminent [6]. Group 2: Historical Issues and Corporate Changes - Tianfeng Securities has been working to sever ties with its original major shareholder, the "Contemporary System," which has been in a debt crisis [6][7]. - Following the acquisition by Hubei Hongtai Group, a state-owned enterprise, Tianfeng Securities is undergoing a "second entrepreneurship" phase, with significant improvements in its governance structure and operational performance [9][10]. - The company reported a net profit of 153 million yuan in the first three quarters of the year, a turnaround from a net loss of 536 million yuan in the same period last year, driven by increased commission income and investment returns [10]. Group 3: Financial Performance and Future Plans - For the first three quarters of 2023, Tianfeng Securities achieved a revenue of 2.112 billion yuan, representing a year-on-year increase of 57.53% [10]. - The company has initiated a private placement to raise up to 4 billion yuan for debt repayment and working capital, with Hubei Hongtai Group fully subscribing to the new shares [10]. - Tianfeng Securities plans to issue bonds or notes in overseas markets with a total amount not exceeding 960 million USD [10]. Group 4: Industry Context and Personnel Changes - Recent investigations have also involved notable figures connected to Tianfeng Securities and the "Contemporary System," raising concerns within the industry [12]. - The former head of the CSRC's issuance review committee is under investigation for serious job-related violations, coinciding with the period when Tianfeng Securities went public [12].

Group 1 - Apple Store in Beijing has officially joined the national subsidy program, offering discounts up to 2000 yuan on selected products, such as the iPhone 17 256GB, which is now priced at 5499 yuan after a 500 yuan subsidy [4] - ST Cube may face mandatory delisting due to significant violations, with reported false revenue of approximately 591.58 million yuan for 2021 and 2022, constituting 50.91% of the total reported revenue for those years [4] - WeChat's HKD wallet has launched a donation section to support fire rescue efforts in Tai Po, with no administrative fees deducted from donations, ensuring all funds go directly to charitable organizations [5] Group 2 - New regulations in Beijing require special license plates for delivery and takeaway vehicles, enhancing management of non-motorized vehicles [2] - Lei Jun, founder of Xiaomi, emphasized that all industries should leverage AI for transformation, predicting a new trillion-dollar market through deep integration of AI with traditional industries [2] - Sohu Video plans to restart its American drama procurement, citing severe piracy as a barrier for many platforms [3] Group 3 - Vanke's stock price has dropped to a nearly 10-year low, with a significant decline of 3.66% on November 28, following a downgrade in credit ratings by S&P [3] - Taobao's flash purchase service will expand the cancellation of late fees to 60 cities by December 3, aiming to improve service for delivery riders [3] - The domestic fuel surcharge for flights will increase starting December 5, with fees rising by 10 yuan for flights under 800 kilometers and 20 yuan for longer flights [7] Group 4 - Miniso's global flagship store in Shanghai has achieved sales exceeding 100 million yuan within nine months, marking a record for global stores [7] - Major tech companies are focusing on space, with Google aiming to deploy TPU in space by 2027, while Amazon's founder predicts data centers will move to space in the next 10 to 20 years [8] - A global shortage of storage chips is worsening, with predictions of a 50% price increase by mid-2026 due to rising demand from AI infrastructure [8]

Market Overview - On November 28, 2025, the A-share market saw all three major indices close higher, with the Shanghai Composite Index at 3888.60 points, up 0.34%, the Shenzhen Component Index at 12984.08 points, up 0.85%, and the ChiNext Index at 3052.59 points, up 0.70%. Over 4100 stocks rose, while the total trading volume in the Shanghai and Shenzhen markets was 1.59 trillion yuan, a decrease of 120 billion yuan from the previous trading day [1] - In the Hong Kong market, the three major indices showed mixed results, with the Hang Seng Index down 0.34% or 87.04 points, closing at 25858.89 points, and a total trading volume of 146.204 billion HKD. The Hang Seng China Enterprises Index fell 0.38%, while the Hang Seng Tech Index rose slightly by 0.02%. For the month, the Hang Seng Index decreased by 0.18%, the China Enterprises Index by 0.42%, and the Tech Index by 5.23% [1] Industry News - The Ministry of Industry and Information Technology (MIIT) held a meeting on November 28, 2025, to discuss the power and energy storage battery industry, emphasizing the need for targeted policy measures to regulate irrational competition. MIIT Minister Li Lecheng highlighted the rapid growth of the industry, which has gained global competitive advantages in market size, innovation, and industrial systems. However, challenges remain, necessitating a comprehensive understanding of the industry landscape and the implementation of measures to combat "involution" competition, enhance capacity monitoring, and improve product quality oversight [2] - The Shanghai Stock Exchange announced on November 28, 2025, that it would closely monitor stocks with abnormal fluctuations, including *ST Suwu and *ST Yazhen, which are under delisting risk warnings, as well as stocks like Hezhi China and Tianpu Co., which have shown significant volatility. The exchange took self-regulatory measures against 80 instances of abnormal trading behavior and reported one suspected illegal case to the China Securities Regulatory Commission [3]

截至今日收盘，天风证券报收4.83元/股，总市值487亿元。 天风证券（601162）(601162.SH)今日公告称，公司于2025年11月28日收到中国证监会下发的《立案告 知书》，因涉嫌信息披露违法违规、违法提供融资，中国证监会决定对公司立案。目前公司生产经营正 常，将积极配合调查并履行信息披露义务。 ...

Group 1 - Guizhou Moutai elected Chen Hua as the chairman of the fourth board of directors [4] - Tianfeng Securities is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure and illegal financing [4] - Yongtai Energy's actual controller Wang Guangxi received a notice of investigation from the China Securities Regulatory Commission for matters unrelated to the company [4] Group 2 - Shenzhou Pharmaceutical's controlling shareholder plans to reduce its stake by no more than 3% [4] - Zhenhua Group intends to increase its stake in China Jushi by 550 million to 1.1 billion yuan [4] - Jihong Co., Ltd. and its concerted parties plan to reduce their stake by no more than 2.93% [4] Group 3 - XJ Electric won a 1.518 billion yuan procurement project from the State Grid [4] - China XD Electric's subsidiaries collectively won procurement projects from the State Grid worth approximately 2.98 billion yuan [4] - Chaozhuo Aerospace's actual controller will change to the Hubei Provincial State-owned Assets Supervision and Administration Commission, with stock resuming trading on December 1 [4] Group 4 - Huakong Saige terminated its specific object stock issuance [5] - Shenzhen Energy plans to apply for a public bond issuance with a total scale not exceeding 20 billion yuan [5] Group 5 - Blue Sail Medical's board proposed to lower the conversion price of "Blue Sail Convertible Bonds" [6] - ST Lifang's stock will be subject to delisting risk warning and will be suspended from trading on December 1 [7] - Cambrian elected Chen Tianshi as chairman [8]

天风证券(601162.SH)今日公告称，公司于2025年11月28日收到中国证监会下发的《立案告知书》，因涉嫌 信息披露违法违规、违法提供融资，中国证监会决定对公司立案。目前公司生产经营正常，将积极配合调 查并履行信息披露义务。 截至今日收盘， 天风证券报收4.83元/股，总市值487亿元。 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 突然异动！这一板块，大爆发！ 丨 证监会剑指财务造假，发行人+中介机构被同步追责 丨 摩尔线 程，最新发布！ 丨 002702，地天板！ 丨 俄乌，最新消息！普京表态 丨 10倍牛股，停牌核查！ 丨 近9000亿元！上交所最新发声 丨 午后，直线拉升！ 丨 丨 爆发！这一板块，涨停潮！ 丨 万科，股 债双杀！ 丨 美联储，重磅发布！美股全线上涨 解码港股IPO版图：四地企业占据半壁江山、三四线 ...