Core Viewpoint - ST Qibu has been collectively sued, involving multiple senior executives, indicating serious issues within the company that may lead to criminal penalties for the responsible parties [2][3][5]. Group 1: Legal Issues - ST Qibu and its key personnel face three charges: fraudulently issuing securities, violating disclosure regulations, and failing to disclose important information [3][6]. - The company has previously been penalized for illegal activities, including a fine of 77 million yuan due to financial fraud and misleading information in bond issuance [4][8]. - The lawsuit marks the second phase of severe penalties following an investigation by the China Securities Regulatory Commission (CSRC) in 2022 for similar violations [3][4]. Group 2: Financial Misconduct - From 2018 to 2020, ST Qibu inflated its revenue by 360 million yuan and profits by 129 million yuan through fictitious transactions [7]. - The company issued convertible bonds worth 520 million yuan based on inflated financial data, leading to accusations of fraudulent issuance [7][8]. - The inflated profits represented 10.39% and 14.57% of the reported profits for 2018 and the first half of 2019, respectively [7]. Group 3: Ongoing Financial Struggles - ST Qibu has been experiencing continuous losses since 2020, with losses exceeding 1 billion yuan annually, peaking at 656 million yuan in 2023 [16][17]. - The company forecasts further losses of 30 to 45 million yuan for the first half of 2025, bringing total losses since 2020 to approximately 1.777 billion yuan [16][17]. - Despite attempts to pivot to live e-commerce with a strategic partnership, the results have not met expectations, contributing to ongoing financial decline [16][17].

Group 1 - The company, Qibu Co., Ltd., is currently facing criminal prosecution for alleged securities fraud and violations of information disclosure laws [1][2] - The prosecution involves former executives including the former chairman, general manager, vice president, board secretary, financial director, and supply chain director, all accused of engaging in fraudulent activities [1][2] - The allegations include inflating profits and fabricating significant false information in the prospectus for convertible bonds, which constitutes a serious violation of the Criminal Law of the People's Republic of China [2] Group 2 - The company is in the defendant position in this legal case, which may have negative financial implications depending on the final judgment and any necessary corrections to prior accounting errors [3] - The financial impact of the criminal proceedings will be determined based on the outcome of the trial and the audited financial data [3]

证券代码：603557 证券简称：ST 起步 公告编号：2025-059 起步股份有限公司 关于公司收到起诉书的公告 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： 2025 年 7 月 10 日，起步股份有限公司（以下简称"公司"）收到丽水市人 民检察院出具的《起诉书》（丽检刑诉〔2025〕10 号），主要内容如下： 一、本次诉讼的基本情况 本案被告单位为起步股份有限公司，被告人为公司前董事长章利民、公司前 总经理周建永、公司前副总裁邹习军、公司前董事会秘书吴剑军、公司前财务总 监陈章旺、公司前供应链总监周建璋。 本案由丽水市公安局侦查终结，以被告单位起步股份有限公司、被告人周建 永等 6 人涉嫌欺诈发行证券罪、违规披露、不披露重要信息罪，向丽水市人民检 察院移送起诉。 经依法审查查明相关事实，丽水市人民检察院认为，被告单位起步股份有限 公司以虚增利润的方式进行财务造假，并在《公开发行可转换公司债券募集说明 书》中编造重大虚假内容，发行公司债券，数额巨大且有其他严重情节，被告人 章利民、周建永系直接负责的主管 ...

证券代码：603557 证券简称：ST 起步 公告编号：2025-059 起步股份有限公司 关于公司收到起诉书的公告 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： 2025 年 7 月 10 日，起步股份有限公司（以下简称"公司"）收到丽水市人 民检察院出具的《起诉书》（丽检刑诉〔2025〕10 号），主要内容如下： 一、本次诉讼的基本情况 本案被告单位为起步股份有限公司，被告人为公司前董事长章利民、公司前 总经理周建永、公司前副总裁邹习军、公司前董事会秘书吴剑军、公司前财务总 监陈章旺、公司前供应链总监周建璋。 本案由丽水市公安局侦查终结，以被告单位起步股份有限公司、被告人周建 永等 6 人涉嫌欺诈发行证券罪、违规披露、不披露重要信息罪，向丽水市人民检 察院移送起诉。 经依法审查查明相关事实，丽水市人民检察院认为，被告单位起步股份有限 公司以虚增利润的方式进行财务造假，并在《公开发行可转换公司债券募集说明 书》中编造重大虚假内容，发行公司债券，数额巨大且有其他严重情节，被告人 章利民、周建永系直接负责的主管 ...

重要内容提示： 1.业绩预告的具体适用情形：净利润为负值。 证券代码：603557 证券简称：ST 起步 公告编号：2025-060 起步股份有限公司 2025 年半年度业绩预亏公告 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。 2.起步股份有限公司（以下简称"公司"）预计 2025 年半年度实现归属于 上市公司股东的净利润为-3000 万元至-4500 万元。 3.公司预计 2025 年半年度实现归属于上市公司股东的扣除非经常性损益的 净利润为-4800 万元至-7200 万元。 一、本期业绩预告情况 （一）业绩预告期间 2.预计 2025 年半年度实现归属于上市公司股东扣除非经常性损益后的净利 润为-4800 万元至-7200 万元。 （三）本次业绩预告为公司根据经营情况的初步核算，未经注册会计师审计。 二、上年同期经营业绩和财务状况 2025 年 1 月 1 日至 2025 年 6 月 30 日。 （二）业绩预告情况 1.经财务部门初步测算，预计 2025 年半年度实现归属于上市公司股东的净 利润为-3000 万元至- ...

Core Points - The controlling shareholder, Huzhou Hongyu Enterprise Management Partnership (Limited Partnership), has had part of its shares released from freezing, specifically 32,869,166 shares, which accounts for 22.18% of its holdings and 5.27% of the company's total share capital [1][2] - After the release, Huzhou Hongyu holds a total of 148,179,919 shares, representing 23.77% of the company's total share capital, with 69,130,834 shares still frozen, which is 46.65% of its holdings and 11.09% of the company's total share capital [1][2] - The cumulative frozen shares for Huzhou Hongyu and its concerted actioner, Chen Lihong, amount to 69,130,834 shares, which is 44.52% of their total holdings and 11.09% of the company's total share capital [1][2] Summary of Shareholder Situation - Huzhou Hongyu's total shareholding is 148,179,919 shares, or 23.77% of the total [2] - The released shares represent a significant portion of Huzhou Hongyu's holdings, indicating a potential shift in liquidity [1][2] - The remaining frozen shares could impact the shareholder's control and governance within the company [1]

证券代码：603557 证券简称：ST 起步 公告编号：2025-058 起步股份有限公司 二、股东股份累计被冻结情况 关于控股股东部分股份解除冻结的公告 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： 公司于近日通过中国证券登记结算有限责任公司上海分公司系统查询获 悉，公司控股股东湖州鸿煜所持有的部分公司股份解除冻结，具体情况如下： 一、本次股份解除冻结的情况 | 股东名称 | 湖州鸿煜企业管理合伙企业（有限合伙） | | --- | --- | | 本次解除冻结股份（股） | 32,869,166 | | 占其所持股份比例 | 22.18% | 第 1 页 共 3 页 截至本公告披露日，起步股份有限公司（以下简称"公司"）控股股东 湖州鸿煜企业管理合伙企业（有限合伙）（以下简称"湖州鸿煜"） 持有公司 148,179,919 股（均为无限售条件流通股），占公司总股本 的 23.77%。 湖州鸿煜本次解除冻结股份为 32,869,166 股，占其所持公司股份比例 为 22.18%，占公司总股本比例为 5.27 ...

证券代码：603557 证券简称：ST 起步 公告编号：2025-057 起步股份有限公司 述股份冻结已解除。具体情况如下： | 股东名称 | | 湖州鸿煜企业管理合伙企业（有限合伙） | | --- | --- | --- | | 本次解除冻结股份 | 102,000,000 | | | 占其所持股份比例 | 68.84% | | | 占公司总股本比例 | 16.36% | | | 解除冻结时间 | 2025 年 7 月 | 1 日 | | 持股数量 | 148,179,919 | | | 持股比例 | 23.77% | | | 剩余被冻结股份数量 | 102,000,000 | 注 | | 剩余被冻结股份数量占其所持股份比例 | 68.84% | | | 剩余被冻结股份数量占公司总股本比例 | 16.36% | | 一、本次股份解除冻结的情况 注：湖州鸿煜于 2025 年 6 月 25 日被轮候冻结 55,820,081 股，详见公司于 2025 年 6 月 28 日披露的《起步股份有限公司关于控股股东股份被司法冻结的公告》（公告编号:2025-056）， 在本次解除冻结后，轮候冻结状态转为冻结状态，冻结 ...

证券代码：603557 证券简称：ST 起步 公告编号：2025-056 重要内容提示： 公司于近日通过中国证券登记结算有限责任公司上海分公司系统查询获 悉，公司控股股东湖州鸿煜所持有的公司股份被司法冻结，具体情况如下： 一、本次股份被冻结、轮候冻结的情况 截至本公告披露日，起步股份有限公司（以下简称"公司"）控股股东 湖州鸿煜企业管理合伙企业（有限合伙）（以下简称"湖州鸿煜"） 持有公司 148,179,919 股（均为无限售条件流通股），占公司总股本 的 23.77%。 湖州鸿煜本次被冻结股份为 46,179,919 股，占其所持公司股份比例为 31.16%，占公司总股本比例为 7.41%；本次被轮候冻结股份为 55,820,081 股，占其所持公司股份比例为 37.67%，占公司总股本比 例为 8.95%。 湖州鸿煜累计被冻结股份为 148,179,919 股，占其所持公司股份比例 为 100%，占公司总股本的 23.77%；累计被轮候冻结 55,820,081 股， 占其所持公司股份比例为 37.67%，占公司总股本的 8.95% 截至本公告披露日，湖州鸿煜及其一致行动人陈丽红女士合计持有公 司 15 ...

Group 1: Automotive Industry - The average payment term for domestic automotive companies exceeds 170 days, with some companies extending it to over 240 days [1][3] - The long payment terms are seen as a way for automotive companies to transfer financing and cash flow pressures onto suppliers [1] - The revised "Regulations on Payment of Funds for Small and Medium-sized Enterprises" aims to address the payment difficulties faced by small suppliers, mandating large enterprises to pay within 60 days [3] Group 2: Real Estate Industry - The average payment term for real estate companies is reported to be 9 months, with some companies like Greenland Holdings exceeding 20 months [1] Group 3: Home Appliances Industry - The average payment term for white goods manufacturers is approximately 145 days, with Gree Electric Appliances notably lagging at over 170 days [1] Group 4: Food and Beverage Industry - The average payment term in the liquor industry is around 4 months, while *ST Rock faces a prolonged payment term of 4.5 years due to operational crises [1] Group 5: Textile and Apparel Industry - The textile and apparel industry has an average payment term of 71 days, with 107 listed companies reporting a total operating cost of 351.62 billion and accounts payable of 56.63 billion [5][7] - The payment term for the textile manufacturing sector is 55 days, while the apparel and home textile sector has a significantly longer payment term of 147 days [7] - The jewelry sector has a notably shorter payment term, averaging 8 days, due to the concentrated supply chain and strong bargaining power of suppliers [8][10] Group 6: Specific Company Case - ST Start - ST Start has an alarming payment term of 440 days, significantly higher than its peers in the apparel sector [12] - The company has faced severe operational challenges, leading to a cumulative net loss of 1.258 billion over three years and a debt ratio of 92.69% as of 2024 [14][16] - To alleviate cash flow issues, ST Start has extended its payment terms, with a drastic increase from around 200 days in 2020 to 452 days in 2023 [16]