Core Viewpoint - Tian Sheng New Materials (天晟新材) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, specifically related to undisclosed related party transactions for the fiscal year 2023 [1] Group 1: Investigation and Impact - The company received a notice of investigation from the CSRC on February 6, 2026, due to alleged information disclosure violations [1] - As of the announcement date, the company has not received a final conclusion from the CSRC regarding the investigation [1] - The company asserts that its production and operational activities are currently normal and that the investigation will not significantly impact its operations [1] Group 2: Stock Issuance - On January 15, 2026, the company announced a plan to issue shares to specific investors, aiming to raise up to 253 million yuan (approximately 25.3 million) for repaying bank loans and/or supplementing working capital [1] - The specific investor for this issuance is Beijing Rongsheng Zhizhi Technology Development Partnership (Limited Partnership) [2] - Following the issuance, Rongsheng Zhizhi will hold 50 million shares, representing 13.30% of the company, and together with its action-in-concert party, will control 18.75% of the company, making it the controlling shareholder [3]

Core Viewpoint - Tian Sheng New Materials (300169.SZ) experienced a midday drop of 5%, reaching a new monthly low of 6.62 yuan, following the announcement of an investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [1] Group 1 - The CSRC has decided to initiate a case against the company due to potential undisclosed related party transactions for the fiscal year 2023 [1] - Prior to the investigation announcement, the company had just released its performance forecast for 2025, indicating a "superficial turnaround with core pressures" in its financial performance [1]

上交所随后指出，亚辉龙相关公告存在信息披露不准确、不完整的问题，未充分提示合作不确定性及相 关风险，已对公司及时任董事会秘书王鸣阳予以监管警示。此次证监会正式立案，正是对该起涉嫌误导 性陈述行为的进一步调查核实。 相较于亚辉龙因热点概念相关公告违规被立案，天晟新材的涉嫌违规事项则指向历史财务信息披露。根 据公司公告，经自查，本次证监会立案可能涉及2023年度关联交易未披露事项。截至公告披露日，天晟 新材尚未收到证监会的最终调查结论，相关事项的具体细节及违规程度仍有待进一步核查确认。 公开资料显示，天晟新材是全国知名的高分子材料专业生产商，主营业务聚焦于高分子新材料的研发、 生产与销售，主要产品包括软质发泡材料、结构泡沫材料、声屏障产品等。值得注意的是，该公司近期 正处于控制权变更的关键阶段，1月12日曾公告控股股东、实控人拟发生变更，相关股份转让及认购事 宜已完成前期披露，公司股票于1月16日复牌。此次立案调查是否会对公司控制权变更进程产生影响， 成为市场关注的焦点之一。 公开资料显示，亚辉龙主营业务是化学发光免疫分析法为主的体外诊断仪器及配套试剂的研发、生产和 销售，及部分非自产医疗器械产品的代理销售。 尽 ...

Performance Highlights - Guomachine General reported a net profit of 585.16 million yuan for 2025, a year-on-year increase of 45.71% with total revenue of 899 million yuan, up 17.32% [5] - Tianshili achieved a net profit of 1.105 billion yuan, a 15.68% increase year-on-year, despite a revenue decline of 3.08% to 8.236 billion yuan [5] - Focus Technology's net profit rose by 11.73% to 504 million yuan, with total revenue reaching 1.92 billion yuan, up 15.06% [5] - Times Electric reported a net profit of 4.105 billion yuan, a 10.88% increase, with total revenue of 28.761 billion yuan, up 15.46% [5] - Tongxingbao's net profit increased by 5.51% to 221 million yuan, with total revenue of 1.068 billion yuan, up 19.24% [5] Capital Increase & Restructuring - Ruili Kemi is planning to issue shares to acquire a 16% stake in its subsidiary, with trading suspended from February 9 [6] - Longyun Co. intends to acquire a 58% stake in Yuheng Film and Television, with trading resuming on February 9 [6] - Yingwang Yingchuang is set to acquire 100% of Lianshi Legend, a smart marketing service provider [6] - Jiantou Energy's application for a specific stock issuance has been approved by the Shenzhen Stock Exchange [6] - Shanshan Co. signed a restructuring investment agreement with its controlling shareholder [6] Major Events - Aihuilong received a notice of investigation from the China Securities Regulatory Commission for suspected information disclosure violations [9] - Tiansheng New Materials also received a notice of investigation for similar reasons [10] - Cloud Road Co. announced the lifting of the detention of its chairman and general manager [10] - TCL Zhonghuan's subsidiary signed a patent licensing agreement with Aiyu Co. for a total fee of 1.65 billion yuan [11] - Shenjian Co. reported that its aerospace business revenue is relatively small, accounting for less than 1% of total revenue [11] Investment Projects - Wantong Expressway plans to invest approximately 5.42 billion yuan in the renovation and expansion of the Lianhuo Expressway [15] - Zhixin Co. intends to invest up to 1.1 billion yuan in an automotive welding parts project [15] - Hangyu Technology plans to invest up to 1.05 million euros in a forging production base in Slovakia [15] - Dongtianwei is set to invest 400 million yuan in a global R&D center and manufacturing headquarters in South China [15] - Zhongguancun is planning to build a modern digital factory for traditional Chinese medicine in Jiamusi City [15] Stock Trading Updates - The stock of Cuihua Jewelry will be suspended for one day starting February 9 due to the freezing of its main bank accounts [4] - The stock of Longyun Co. will resume trading on February 9 after a suspension [23] - Ruili Kemi and Yongtai Technology will be suspended from trading starting February 9 [24]

Core Viewpoint - The regulatory scrutiny on listed companies in China's A-share market has intensified, with multiple companies facing investigations and penalties for violations related to information disclosure and financial misconduct [2][10]. Group 1: Recent Investigations and Penalties - Two A-share companies, Tian Sheng New Materials and Yahui Long, were recently announced to be under investigation for suspected information disclosure violations [2][6]. - ST Funi was fined 6.5 million yuan for financial fraud involving collusion with a third-party company, which led to inflated profits of approximately 35.8 million yuan in 2020 [3][4]. - Rongbai Technology was fined 9.5 million yuan for misleading statements regarding a major contract, with the investigation concluding within a month [5][6]. Group 2: Overview of Violations - A total of eight A-share companies and four individuals have been investigated since the beginning of 2026, with the majority facing issues related to information disclosure violations [6][7]. - Specific cases include Baoxin Technology and its actual controller being investigated for information disclosure violations, and the independent director of *ST Dongjing being investigated for insider trading [7][8]. Group 3: Regulatory Environment - The regulatory environment has become increasingly stringent, with a significant number of companies being penalized for financial misconduct in 2025, particularly in the area of information disclosure violations [10][12]. - The China Securities Regulatory Commission (CSRC) has emphasized the need for a comprehensive system to combat financial fraud, indicating a shift towards proactive governance rather than reactive measures [12][13].

Core Viewpoint - The regulatory scrutiny on A-share companies has intensified, with multiple companies being investigated and penalized for violations related to information disclosure and financial misconduct since 2026 [1][15]. Group 1: Recent Investigations and Penalties - Eight A-share companies and four related individuals have been investigated since 2026, with recent cases including Tian Sheng New Materials and Aihui Long, both facing allegations of information disclosure violations [1][9]. - ST Fuhua was fined 6.5 million yuan for financial fraud involving collusion with a third-party company, which led to inflated profits of approximately 35.8 million yuan in 2020 [3][4]. - Rongbai Technology was fined a total of 9.5 million yuan for misleading statements regarding a major contract with Ningde Times, which was deemed to lack accurate reflection of the actual terms [6][7]. Group 2: Specific Cases and Financial Impact - ST Fuhua's financial misconduct resulted in a reported revenue of 740 million yuan in 2020, a year-on-year increase of 169.36%, but the company still recorded a net loss when excluding the inflated profits [5][4]. - The inflated profits from ST Fuhua's subsidiary accounted for 120.18% of the total profit disclosed for that period, indicating severe discrepancies in financial reporting [4]. - The investigation into Rongbai Technology revealed that the announced sales figures were based on estimates and lacked contractual guarantees, leading to regulatory action [6][8]. Group 3: Broader Regulatory Trends - The regulatory environment has become increasingly stringent, with a notable increase in investigations into financial misconduct and information disclosure violations among A-share companies [15][19]. - In 2025, a total of 87 A-share companies were investigated, with over 40% being ST companies, highlighting a trend of heightened scrutiny in the market [16]. - The China Securities Regulatory Commission (CSRC) has emphasized a comprehensive approach to tackling financial fraud, involving collaboration with judicial authorities to enhance enforcement and accountability [18][19].

Core Viewpoint - Three listed companies have been named by the China Securities Regulatory Commission (CSRC) for investigations, indicating a tightening regulatory environment with a "zero tolerance" approach towards misconduct in the capital market [4][20]. Group 1: Company Investigations - Ayhuilong and Tiansheng New Materials have been initiated for investigation due to misleading statements and information disclosure violations, respectively [1][7]. - Ayhuilong's investigation stems from a strategic cooperation framework agreement that was found to contain misleading descriptions about its partner, Brain Machine Star Chain [10][11]. - Tiansheng New Materials' investigation is less specific, with the company announcing it is under investigation for information disclosure violations [7][10]. Group 2: Administrative Penalties - ST Funeng has received an administrative penalty due to financial fraud by its former subsidiary, resulting in a profit inflation of approximately 35.8 million yuan in 2020 [15][16]. - The penalty imposed on ST Funeng is 6.5 million yuan, which is relatively low compared to other penalties in the market, reflecting the lesser severity of the fraud and the fact that the subsidiary has been divested [18][19]. - ST Funeng is the 11th company to receive an administrative penalty in 2026, highlighting a trend of increasing regulatory actions against listed companies [19]. Group 3: Regulatory Environment - Since the beginning of 2026, there have been eight companies or their controlling persons under investigation, indicating an average of one investigation every five days [2][3][10]. - The regulatory actions are part of a broader strategy to enhance oversight, focusing on specific issues such as misleading statements and significant omissions in disclosures [13][20]. - The speed of investigations and penalties is increasing, suggesting a systematic effort to reshape the market's overall ecosystem [20].

【天晟新材：因涉嫌信息披露违法违规被证监会立案】天晟新材公告称，公司于2月6日收到中国证监会 立案告知书，因公司涉嫌信息披露违法违规，中国证监会决定对公司立案。本次立案可能涉及2023年度 关联交易未披露事项。目前公司生产经营正常，立案调查事项不会对公司正常生产经营活动产生重大影 响。公司将积极配合调查，严格履行信息披露义务。(智通财经) 证券代码:300169 证券简称:天晟新材 公告编号:2026-021 常州天晟新材料集团股份有限公司 关于收到中国证券监督管理委员会立案告知书的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚 假记载、误导性陈述或重大遗漏。 常州天晟新材料集团股份有限公司(以下简称"公司"或"天晟新材")于 2026 年2月6日收到中国证券监督管理委员会(以下简称"中国证监会")下发的《立 案告知书》(编号:证监立案字 0102026008号),因公司涉嫌信息披露违法违 规,根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规, 中国证监会决定对公司立案。 经公司自查,本次立案可能涉及 2023年度关联交易未披露事项。截至本公 告披露目,公司尚未收到中 ...

截至2月7日，2026年以来被证监会立案的上市公司达到8家，平均不到5天即有一家被立案。收到行政处罚决定书或事先告知书的公司更是多达16家，平均不 到3天就有一家。 21世纪经济报道 记者 崔文静 近期，资本市场迎来了一轮密集且严厉的监管动作，清晰地勾勒出一条从立案到处罚的快速响应链条。 仅2月6日晚间，即有三家上市公司被证监会或地方证监局点名——亚辉龙、天晟新材被启动立案调查，ST福能则收到行政处罚决定书。 所涉问题颇为多元，包括财务造假、操纵证券市场、误导性陈述、重大遗漏、资金占用、信息披露违法违规等。 这一系列动作清晰表明，资本市场的"零容忍"监管态势正在全面升级并落到实处。监管的"颗粒度"正在不断细化，触角深入至误导性陈述、重大遗漏等更具 体、更隐蔽的信息披露瑕疵，同时加大对操纵市场等恶性行为的打击力度。 ...

Core Viewpoint - The regulatory environment in the capital market is tightening, with a "zero tolerance" approach being established, leading to an increase in investigations and administrative penalties against listed companies [6][15][22]. Group 1: Investigations and Penalties - Two companies, Aihuilong and Tiansheng New Materials, have been initiated for investigation by the China Securities Regulatory Commission (CSRC) for misleading statements and information disclosure violations, respectively [2][3][9]. - ST Funeng has received an administrative penalty due to financial fraud by its subsidiary, which inflated profits by approximately 35.8 million yuan in 2020 [3][18]. - As of February 6, 2026, a total of 11 companies have received administrative penalties this year, indicating a rapid increase in regulatory actions [5][21]. Group 2: Specific Cases - Aihuilong's investigation stems from a strategic cooperation framework agreement that was found to contain misleading statements regarding its partner, Brain Machine Star Chain [2][12]. - Tiansheng New Materials is under investigation for unspecified information disclosure violations, a common reason for CSRC investigations [9][11]. - ST Funeng's financial misconduct involved fabricating a non-existent procurement transaction, which significantly distorted its financial statements [17][18]. Group 3: Regulatory Trends - The average time for a company to be investigated after a problematic announcement has decreased, with an average of one company being investigated every five days [4][14]. - The CSRC is focusing on various types of violations, including misleading statements, market manipulation, and information disclosure violations, indicating a more granular approach to regulation [15][22]. - The regulatory response speed is increasing, reflecting a systematic effort to reshape the market ecosystem [22].