Core Viewpoint - The article highlights the increasing involvement of third-party entities in financial fraud within the A-share market, with regulatory bodies intensifying efforts to combat this issue and hold all parties accountable [3][4][6]. Group 1: Financial Fraud Cases - Approximately 30 companies in the A-share market have been penalized or are under investigation for financial fraud this year, with at least 7 of these cases involving third-party collaboration, accounting for 23% of the total [4][5]. - Notable companies involved in financial fraud with third-party assistance include *ST Suwu, *ST Hengjiu, *ST Guangdao, *ST Jingang, ST Langyuan, ST Zhiyun, and ST Zhongqingbao [4]. - The *ST Suwu case involved its subsidiaries engaging in non-substantive trade activities with multiple related companies, resulting in inflated revenue of 1.771 billion yuan and inflated profits of 76 million yuan from 2020 to 2023 [4]. Group 2: Characteristics of Third-Party Involvement - The trend of third-party collaboration in financial fraud has emerged as a new characteristic of capital market misconduct, driven by factors such as the need to evade regulatory scrutiny and the rise of professional "fraud accomplices" [6][13]. - The complexity of these fraud schemes often involves multiple independent parties, making it difficult for regulators to identify and address the underlying issues [13][14]. - The involvement of third parties creates a network of deceit that can lead to systemic risks and undermine market trust [8][9]. Group 3: Challenges for Auditors - Third-party collaboration in fraud poses significant challenges for external auditors, as these accomplices may manipulate various stages of the auditing process to conceal the true nature of transactions [9][10]. - The effectiveness of traditional audit procedures is compromised when companies and their accomplices coordinate their efforts to mislead auditors [10]. - The prevalence of third-party involvement in fraud is a key reason for the frequent failures of auditing standards and practices [10]. Group 4: Regulatory Response - The China Securities Regulatory Commission (CSRC) is actively exploring comprehensive measures to hold third-party accomplices accountable, including administrative, civil, and criminal penalties [11][12]. - The CSRC has begun to impose penalties on third-party entities involved in fraud, as seen in the case of Yuebo Power, where accomplices faced fines for their roles in the fraudulent activities [12]. - Future regulatory efforts will focus on dismantling the "ecosystem" of fraud by targeting both the primary perpetrators and their accomplices [12][15].

2024年年度股东大会决议公告 （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。） 证券代码：300175 证券简称：ST朗源 公告编号：2025-045 朗源股份有限公司 特别提示： （一）本次股东大会未出现否决议案的情形； （二）本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间 （1）现场会议召开时间：2025年5月29日（星期四）下午14：30。 （2）网络投票时间：2025年5月29日。其中，通过深圳证券交易所交易系统 进行网络投票的时间为2025年5月29日9:15-9:25，9:30-11:30，13:00-15:00； 通过深圳证券交易所互联网投票系统进行投票的时间为2025年5月29日9:15至15： 00的任意时间。 2、会议召开地点：山东省龙口高新技术产业园区朗源路299号公司三楼会议 室。 3、会议召开方式：本次股东大会采用现场表决与网络投票相结合的方式召 开。 4、会议召集人：朗源股份有限公司董事会。 5、会议主持人：董事长赵征先生。 本次会议的召集、召开符合《公司法》、《上 ...

国浩律师（上海）事务所 关 于 朗源股份有限公司 2024 年年度股东大会 之 见证法律意见书 上海市静安区山西北路 99 号苏河湾中心 25-28 层 邮编：200048 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China 电话/Tel: +86 21 5234 1668 传真/Fax: +86 21 5234 1670 网址/Website: http://www.grandall.com.cn 2025 年 5 月 国浩律师（上海）事务所 法律意见书 本所律师按照有关法律、法规的规定对公司 2024 年年度股东大会召集、召 开程序是否合法及是否符合《公司章程》、出席会议人员资格、召集人资格的合 法有效性和股东大会表决程序、表决结果的合法有效性发表法律意见。法律意见 书中不存在虚假、严重误导性陈述及重大遗漏，否则愿意承担相应的法律责任。 本所律师是根据对事实的了解和对法律的理解发表法律意见。 本法律意见书依据国家有关法律、法规的规定而出具。 本所律师同意将本法律意见书作为公司 2024 年年度股东大会的 ...

Group 1: Investor Relations Activities - The company participated in the "2025 Shandong Listed Companies Investor Online Reception Day" on May 15, 2025 [2] - The event was held on the "Panorama Roadshow" website [2] - Key personnel included the CFO Mr. Wang Tao, Board Secretary Ms. Li Chunli, and Securities Affairs Representative Ms. Zhang Yuting [2] Group 2: Shareholder and Management Queries - Morgan Stanley's current shareholding status in Langyuan will be disclosed in periodic reports [3] - The management will take further actions regarding the expiration of voting rights in October, adhering to regulatory disclosure obligations [3] - The company currently has no ongoing cooperation with New Oriental [3] Group 3: Financial Performance and Future Outlook - The company aims to turn a profit in 2025, with performance updates to be disclosed in future reports [3] - Export revenue accounted for 56.71% of total sales in 2024, primarily to Southeast Asia, South Asia, the Middle East, and Europe [3] - The voting rights delegation agreement signed on April 30, 2024, is valid for 18 months [3] Group 4: Strategic Planning and Corporate Actions - The company is considering strategic cooperation and asset integration to enhance competitiveness [4] - Future strategic arrangements and offline expansion plans will be detailed in the 2024 annual report [4] - All major corporate actions will comply with the regulations set by the securities regulatory authority and exchanges [4]

Core Viewpoint - The article highlights the increasing complexity and prevalence of financial fraud in listed companies, particularly focusing on the role of third parties in facilitating these fraudulent activities [2][4][18]. Group 1: Overview of Financial Fraud - The annual "5.15 National Investor Protection Day" serves as a reminder of the severe consequences of financial fraud, exemplified by the Zijing Storage case, which affected 17,000 investors and involved compensation of 1.086 billion yuan from four intermediary institutions [2]. - Since 2020, over 60% of administrative penalties by the China Securities Regulatory Commission (CSRC) for income fraud have involved transaction fraud, with more than 600 third-party entities implicated in 58 cases of transaction fraud [4][6]. Group 2: Evolution of Fraud Techniques - Financial fraud has evolved from simple accounting manipulations to systemic fraud that encompasses entire business processes, as seen in cases like Gome Communications and Oriental Group [5][10]. - Transaction fraud is characterized by the fabrication of non-existent transactions and manipulation of transaction processes, posing a more direct threat to market trust compared to traditional accounting manipulations [6][10]. Group 3: Role of Third Parties - Third parties, including customers, suppliers, and shell companies, play a crucial role in orchestrating financial fraud, with an average of over 10 third parties involved in each fraudulent case [11][12]. - The involvement of third parties often includes hidden relationships and the creation of complex transaction structures to obscure fraudulent activities, as demonstrated in various cases [12][13][14]. Group 4: Legal and Regulatory Challenges - Despite the high-pressure stance of the CSRC against financial fraud, third parties often escape significant legal repercussions, leading to a lack of accountability in the broader fraud ecosystem [18][19]. - The current legal framework does not adequately address the roles of third parties in financial fraud, resulting in a cycle of low risk and high reward for those involved in fraudulent activities [23]. Group 5: Recommendations for Improvement - There is an urgent need to enhance legal regulations and establish a comprehensive accountability mechanism for all parties involved in financial fraud, including third parties [23].

Group 1 - The core issue involves Langyuan Co., Ltd. being penalized by the China Securities Regulatory Commission for financial misconduct, specifically for inflating revenue, costs, and profits through fictitious contracts in 2019 [1] - The inflated figures included an increase in revenue by 52.51 million yuan, costs by 34.94 million yuan, and total profit by 18.17 million yuan, representing 9.03%, 7.94%, and 43.02% of the respective reported figures [1] - A subsequent correction announcement in September 2020 still reflected inflated figures, with adjusted revenue, costs, and profits remaining overstated by 37.88 million yuan, 27.23 million yuan, and 11.25 million yuan, which accounted for 6.68%, 6.17%, and 26.91% of the respective reported figures [1] Group 2 - On the same day the administrative penalty was announced, a board member of Langyuan submitted a resignation letter, stepping down from his positions as director, vice chairman, and member of the remuneration and assessment committee [2] - A lawsuit has been initiated regarding the false statements made by Langyuan, with ongoing proceedings aimed at compensating affected shareholders [3] - Shareholders who purchased shares between April 25, 2018, and April 25, 2023, or between April 30, 2020, and September 12, 2024, may be eligible to file for compensation [3]

证券代码：300175 证券简称：ST朗源 公告编号：2025-044 朗源股份有限公司 关于参加2025年山东辖区上市公司投资者 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路 演 APP，参与本次互动交流。活动时间为 2025 年 5 月 15 日（周四）15：00-16： 30。 届时公司财务总监王涛先生、董事会秘书李春丽女士、证券事务代表张雨婷 女士将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况等投资者关 心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告！ 朗源股份有限公司董事会 二〇二五年五月十三日 网上集体接待日活动的公告 （本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。） 为进一步加强与投资者的互动交流，朗源股份有限公司（以下简称"公司"） 将参加由山东证监局、山东上市公司协会与深圳市全景网络有限公司联合举办的 "2025 年山东辖区上市公司投资者网上集体接待日活动"，现将相关事项公告 如下： ...

Group 1 - National Integrated Circuit Industry Fund plans to reduce its stake in Jiangbolong by no more than 4,159,815 shares, accounting for 1.00% of the total share capital, between May 27, 2025, and August 26, 2025 [1] - The reduction is due to the fund's operational management needs and will be executed through centralized bidding at market prices [1] - The implementation of this reduction plan will not lead to a change in the company's control or significantly impact its governance structure and ongoing operations [1] Group 2 - Haitai Weiye has received approval from the China Securities Regulatory Commission for its H-share issuance, planning to issue no more than 710.52 million overseas listed ordinary shares [2] - The listing will take place on the main board of the Hong Kong Stock Exchange, but the matter still carries uncertainties [2] Group 3 - Fudan Zhangjiang announced a price reduction of at least 35% for its Doxorubicin Liposome Injection starting May 1, 2025, which is expected to negatively impact sales revenue [3] - The drug generated approximately RMB 210 million in sales for the year 2024, representing 29% of the company's total sales revenue [3] - The price adjustment may lead to a risk of single product loss for the drug in 2025 [3] Group 4 - Xinyuan Technology's director expressed inability to guarantee the authenticity and completeness of the 2024 annual report and related financial documents, citing significant issues identified by the audit firm [4] - The company has received a notice of investigation from the securities regulatory authority, and the audit report issued was unable to express an opinion [4] Group 5 - ST Xinchao announced that its stock will be suspended from trading starting May 6, 2025, due to the inability to disclose the audited 2024 annual report and the 2025 Q1 report within the legal timeframe [5] - If the company fails to disclose the 2024 annual report within two months of the suspension, it will face delisting risk warnings [5] Group 6 - Huakang Clean has pre-won a project worth RMB 167 million [6] - Tongguang Cable has pre-won a procurement project from the State Grid valued at RMB 142 million [6] - Fengmao Co. has increased its investment in a production base in Thailand to RMB 26 million [6] Group 7 - Huaren Pharmaceutical's wholly-owned subsidiary has obtained a medical device registration certificate for wound dressings [7] Group 8 - Major shareholders of Kairun Co. plan to reduce their holdings by no more than 9 million shares [10] - CITIC Securities has completed its reduction plan for China Gold [10] - The reduction plan for Hengfeng Information's director and vice president has been completed [10]

证券代码：300175 证券简称：ST 朗源 公告编号：2025-043 朗源股份有限公司 关于投资者诉讼事项的公告 （本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。） 重点内容提示： 1、案件所处的诉讼阶段：法院已受理，尚未开庭。 原告：6 名自然人投资者 被告：朗源股份有限公司等主体 （二）诉讼请求 2、上市公司所处的当事人地位：被告 3、涉案的金额：合计约为 39.80 万元。 4、对上市公司损益产生的影响：鉴于案件尚未开庭审理，目前无法判断对 公司本期利润或期后利润的影响。 一、本次诉讼受理的基本情况 朗源股份有限公司（以下简称"公司"）于近日收到青岛市中级人民法院发 来的《民事起诉状》。根据上述材料显示，青岛市中级人民法院已受理 6 名自然 人投资者诉公司证券虚假陈述责任纠纷一案，起诉金额合计约为 39.80 万元。 二、有关本案的基本情况 （一）诉讼各方当事人 1、判令被告赔偿原告投资损失人民币约为 39.80 万元。 2、本案诉讼费由被告承担。 （三）诉讼的主要事实与理由 2025 年 3 月，公司收到中国证监会山东监管局下发的《行政处罚事先告知 ...

Group 1: Financial Performance - The company reported a loss in 2024 primarily due to losses in the service sector [2] - The total revenue from the core business of agricultural products processing in 2024 was CNY 245 million [3] - The company will not distribute profits for 2024 due to losses and negative retained earnings [6] Group 2: Research and Development - The R&D investment for 2024 was CNY 0, with a possibility of increasing investment in the future to drive product innovation [2] Group 3: Future Goals and Strategies - The company aims to deepen market penetration and explore food business transformation [2] - The overseas sales accounted for 56.71% of total revenue in 2024, with plans to further expand this market share [7] - The company has a credit line of CNY 1.5 billion, which will be applied based on operational needs [5] Group 4: Cost Control and Efficiency - The company plans to adjust procurement strategies to lower raw material costs and optimize production processes [7]