Core Viewpoint - Zhejiang Jiaao Environ Tech Co., Ltd. has received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation for suspected violations of information disclosure laws, leading to a formal case being opened against the company [1][3]. Group 1: Company Announcement - On June 23, 2025, Jiaao Environ announced that it received the CSRC's "Notice of Case Filing" (Document No. 01120250018) due to alleged violations of the Securities Law and the Administrative Penalty Law of the People's Republic of China [1][3]. - The CSRC's decision to file a case indicates serious regulatory scrutiny and potential legal consequences for the company [1][3]. Group 2: Investor Compensation - Investors who purchased Jiaao Environ shares (stock code: 603822) before June 23, 2025, and sold or held the shares after June 24, 2025, may be eligible for compensation due to the company's legal issues [4][1]. - Compensation claims require specific documentation, including original transaction statements stamped by the brokerage, copies of the investor's ID, and a securities account inquiry issued by the brokerage [5][6].

Core Viewpoint - Jiaao Environmental has received an administrative penalty notice from the Zhejiang Securities Regulatory Bureau due to false records in its annual reports for 2022 and 2023, resulting in a fine of 5.5 million yuan and penalties for two former executives totaling 4.5 million yuan [1] Group 1: Regulatory Actions - The company will have its stock suspended on December 10 and will be subject to risk warnings starting December 11, with its abbreviation changed to "ST Jiaao" [1] - This is not the first regulatory issue for Jiaao Environmental, as it faced penalties in May 2021 for inflated revenue and understated net profit in its 2019 annual report, leading to a fine of 1 million yuan [1] Group 2: Financial Performance - The company has experienced significant fluctuations in its operating performance, with net losses reported for three consecutive years from 2022 to 2024, amounting to 32.44 million yuan, 7.54 million yuan, and 367 million yuan respectively [1] - Despite a substantial year-on-year revenue increase of 189.39% to 3.005 billion yuan in the first three quarters of this year, the net loss attributable to shareholders narrowed to 25.366 million yuan [1] Group 3: Shareholder Information - As of the end of the third quarter, Xinda Aoya Fund has two products listed among the top ten circulating shareholders of the company, holding a total of 2.1272 million shares, valued at approximately 180 million yuan based on the closing price on December 9 [1] - The Xin'ao Cycle Power Mixed Fund increased its holdings by 312,300 shares in the third quarter, bringing its total to 1.1583 million shares, representing 1.51% of circulating shares [2] - The Xin'ao Craft Return Mixed Fund entered the top ten circulating shareholders with 968,900 shares, accounting for 1.26% of circulating shares [2]

Core Viewpoint - Jiaao Environmental Protection (嘉澳环保) has been confirmed to have engaged in financial fraud after a nearly six-month investigation, resulting in penalties from the Zhejiang Securities Regulatory Bureau [2][5]. Financial Misconduct - Jiaao Environmental inflated its total profit by 32.77 million yuan and net profit by 25.70 million yuan for the years 2022 and 2023, which allowed the company to report a profit in 2023 instead of a loss [3][6]. - The company failed to transfer its environmental plasticizer project to fixed assets in a timely manner and did not accurately account for related loan interest, leading to false financial statements [6][7]. Penalties and Consequences - The company received a warning and a fine of 5.5 million yuan, while the former chairman and CFO were fined a total of 10 million yuan [2][7]. - Starting December 11, Jiaao Environmental's stock will be subject to additional risk warnings, with its trading name changed to "ST Jiaao" [2][7]. Historical Performance - Jiaao Environmental has reported cumulative losses of 447 million yuan from 2022 to 2025, with a significant decline in revenue and net profit during this period [9][10]. - The company has not distributed dividends since 2022, despite having distributed a total of 97.93 million yuan in dividends since its listing [4][11]. Stock Performance - As of December 9, the stock price was 84.73 yuan per share, with a total market capitalization of 6.509 billion yuan, reflecting a nearly 74% increase over the year [3][11].

Group 1 - The core issue is that Jiaao Environmental (603822) has received an administrative penalty notice from the Zhejiang Securities Regulatory Bureau due to false disclosures in its annual reports for 2022 and 2023, resulting in a fine of 5.5 million yuan, with two former executives fined a total of 4.5 million yuan [1] - The company's stock will be suspended from trading on December 10 and will be subject to risk warnings starting December 11, with its abbreviation changed to "ST Jiaao" [1] - This is not the first regulatory issue for Jiaao Environmental, as it previously faced penalties for failing to consolidate overseas entities and not offsetting related transactions, which led to inflated revenue of approximately 179 million yuan and a net profit reduction of 936,100 yuan in its 2019 annual report [1] Group 2 - Jiaao Environmental has experienced significant fluctuations in its operating performance, with net losses reported for three consecutive years from 2022 to 2024, amounting to losses of 32.44 million yuan, 7.54 million yuan, and 367 million yuan respectively [1] - Despite a substantial year-on-year revenue increase of 189.39% to 3.005 billion yuan in the first three quarters of this year, the company's net profit loss narrowed to 25.366 million yuan [1] - As of the end of the third quarter, Xinda Ao Ya Fund holds two products among the top ten circulating shareholders of Jiaao Environmental, with a total holding of 2.1272 million shares valued at 180 million yuan based on the closing price on December 9 [1] Group 3 - Xinda Ao Ya Fund's "Xinao Cycle Power Mixed Fund" increased its holdings by 312,300 shares in the third quarter, bringing its total to 1.1583 million shares, which represents 1.51% of the circulating shares [2] - The "Xinao Craft Return Mixed Fund" entered the top ten circulating shareholders for the first time, holding 968,900 shares, accounting for 1.26% of the circulating shares [2]

【DT新材料】 获 悉，12月8日， 霍尼韦尔 与中国最大的生 物燃料生产商之一， 浙江嘉澳环保科技股份有限公司 （以下简称"嘉澳环保"）共同宣 布， 国内目前专注于可持续航空燃料（SAF）生产、产率最高的可再生燃料工厂已成功投产。 嘉澳环保正采用霍尼韦尔先进的 Ecofining™ 技术， 每日可将 1 万桶（折合年产能约 50 万吨）厨余油转化为可持续航空燃料。 双方在工艺技术和催 化剂领域的本土化合作，让嘉澳环保能够实现高产出率及规模化生产，有效降低生产成本。 2025 年 3 月，连云港嘉澳成功获得中国民用航空局颁发的 《技术标准规定项目批准书》（ CTSOA ） ，标志着其生物航煤产品正式通过了国内的适 航审定，为其进入国内市场扫清了关键障碍。 品牌展会|链接行业上下游 2025 年 5 月 1 日，嘉澳环保获得商务部、海关总署、国家能源局和国家外汇管理局四部门批复， 成为国内首家被纳入生物航油 " 出口商白名单 " 的企业 。根据批复，公司可在其满负荷生产 37.24 万吨生物航油的年产能范围内申领出口许可证。 紧接着在 5 月 6 日，公司利用获得的出口许可证 ，成功实现了首批约 13,400 ...

Core Viewpoint - Jiaao Environmental (603822.SH) has been found to have falsified financial data in its 2022 and 2023 annual reports, resulting in a cumulative inflated net profit of 25.6996 million yuan, leading to regulatory penalties and a change in stock status to "ST Jiaao" [2][5] Financial Misconduct - The China Securities Regulatory Commission (CSRC) issued a notice regarding Jiaao Environmental's suspected information disclosure violations, leading to an administrative penalty [3] - The financial misconduct was attributed to improper accounting treatment of a core project by its wholly-owned subsidiary, which failed to transfer a completed project to fixed assets, resulting in inflated profits for 2022 and 2023 [4] Financial Data Adjustments - In 2022, Jiaao Environmental reduced operating costs by 13.4442 million yuan and financial expenses by 5.7675 million yuan, inflating total profit by 19.2117 million yuan, which was 28.91% of the reported profit [4] - In 2023, the company reduced operating costs by 13.5582 million yuan, inflating total profit by 13.5582 million yuan, which was 63.72% of the reported profit, and net profit turned from a loss to a profit [4] Regulatory Actions - The Zhejiang Securities Regulatory Bureau proposed a warning and a fine of 5.5 million yuan for Jiaao Environmental, with additional fines for the chairman and CFO for their roles in the misconduct [5] - Jiaao Environmental has submitted a written rectification report to the regulatory authority and has made adjustments to its financial statements for 2022 and 2023 [7] Financial Performance - Jiaao Environmental reported a revenue of 3.211 billion yuan in 2022, a 67.59% increase, but incurred a net loss of 32.4401 million yuan, a 131.79% decline [8] - In 2023, revenue decreased by 16.98% to 2.666 billion yuan, with a net loss of 7.5402 million yuan [8] - For 2024, the company reported revenue of 1.274 billion yuan, a 52.23% decline, and a net loss of 367 million yuan [8] Industry Context - The industry is currently facing challenges, with over 60% of companies experiencing losses, influenced by rising raw material costs and increased competition [9] - The key to short-term profitability for Jiaao Environmental lies in accelerating the production capacity of its new bio-jet fuel business and controlling costs [9]

因涉嫌财务造假，又有两家A股公司股票将被实施其他风险警示。 惠伦晶体：虚增成本费用、虚增收入 12月9日晚，广东惠伦晶体（300460）科技股份有限公司（以下简称"惠伦晶体"）公告称，公司及相关当事人于12月9日收到广东证监局下发的《行政 处罚事先告知书》。惠伦晶体披露的2021年、2022年年度报告存在虚假记载，根据相关规定，公司股票自2025年12月11日起被正式实施其他风险警 示，股票简称由"惠伦晶体"变更为"ST惠伦"。 告知书显示，经查明，惠伦晶体、惠伦晶体实控人赵积清涉嫌信息披露违法违规的事实涉及未按规定披露资金占用事项，虚增成本费用、虚增收入 等。广东证监局拟决定，对惠伦晶体公司责令改正，给予警告，并处以300万元罚款；对赵积清等5名当事人给予警告，合计处以840万元罚款。 具体来看，2020年，惠伦晶体以采购设备及材料、预付工程款等名义向东莞市某科技有限公司等7家公司支出款项，并最终划转至控股股东新疆惠伦及 赵积清本人等关联方银行账户，用于归还新疆惠伦股权质押款及赵积清个人借款。 上述关联方非经营性资金往来构成关联方对公司的资金占用，2020年累计发生额为2833万元，期末余额为2663万元。 ...

Core Viewpoint - 嘉澳环保 is facing administrative penalties from the Zhejiang Securities Regulatory Bureau due to misstatements in its 2022 and 2023 annual reports, linked to its subsidiary's failure to timely transfer construction projects to fixed assets [2] Group 1: Company Situation - 嘉澳环保 has received an administrative penalty notice but does not face delisting risks as the situation does not fall under major violations that would trigger mandatory delisting [2] - The company asserts that its production and operational activities are proceeding normally despite the ongoing issues [2] Group 2: Business Focus and Strategy - 嘉澳环保 is focusing on the development of environmentally friendly biomass energy and new materials, with a strategic emphasis on sustainable aviation fuel (SAF) [2] - The market demand for SAF is strong due to the global aviation industry's push for decarbonization and supportive domestic green energy policies, indicating a promising future for this business segment [2] Group 3: Compliance and Management Actions - The company plans to enhance its internal control processes and improve financial compliance capabilities as a response to the recent issues [3] - Management will implement systematic training on securities laws and accounting standards to promote ongoing compliance and ensure the accuracy and completeness of information disclosure [3]

Regulatory Actions - On December 9, the Zhejiang Securities Regulatory Bureau issued a notice of administrative penalty, confirming Jiaao Environmental's continuous financial fraud over two years [1][4] - The regulatory decision includes a warning and a fine of 5.5 million yuan for Jiaao Environmental, along with a total of 4.5 million yuan in penalties for two responsible individuals, amounting to a total of 10 million yuan [1][4] - Starting December 11, Jiaao Environmental will be designated as "ST Jiaao," with its stock price fluctuation limit reduced from 10% to 5% [1][4] Financial Fraud Details - The financial fraud involved delaying the transfer of assets from construction in progress to fixed assets, which should have been completed by December 2021 [2][5] - In 2022, this manipulation led to a reduction in operating costs by 13.44 million yuan and financial expenses by 5.77 million yuan, resulting in an inflated total profit of 19.21 million yuan, which constituted 28.91% of the disclosed profit for that period [2][5] - In 2023, similar fraudulent activities continued, with a reduction in operating costs by 13.56 million yuan and an inflated profit of the same amount, making up 63.72% of the disclosed profit for that year [2][5] - The fraudulent actions in 2023 resulted in a net profit increase of 10.44 million yuan, representing 200.38% of the disclosed net profit [2][5] Implications for Investors - The issuance of the pre-penalty notice provides strong evidence for potential claims by affected investors, with updated conditions for participation in compensation claims [1][4] - Investors who purchased shares between April 21, 2023, and April 29, 2025, and sold or held them after April 30, 2025, while incurring losses, are eligible to participate in the compensation process [1][4]

关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 2025年12月9日晚间，惠伦晶体（维权）、嘉澳环保（维权）分别发布：关于公司及相关当事人收到 《行政处罚事先告知书》的公告和关于收到中国证券监督管理委员会浙江监管局《行政处罚事先告知 书》的公告，两家上市公司此前分别于2025 年 4 月 24 日和2025年6月23日遭证监会立案。 根据证监会下达的行政处罚事先告知书显示，惠伦晶体涉及的主要违规为：一、惠伦晶体未按规定披露 资金占用事项，2020 年年度报告存在重大遗漏；二、惠伦晶体虚增成本费用、虚增收入，2021 年、 2022 年年度报告存在虚假记载。广东证监局拟对广东惠伦晶体科技股份有限公司责令改正，给予警 告，并处以300万元罚款。（惠伦晶体维权入口） 嘉澳环保同样是涉及相关财务数据存在虚假记载问题，公告显示：2022 年嘉澳环保虚减营业成本 13， 444，175.77 元，虚减财务费用 5，767，483.35 元，虚增利润总额 1 ...