Core Viewpoint - The Shanghai Financial Court and the Shanghai Securities Regulatory Bureau have released ten cases related to securities false statements, providing clear guidelines for market participants regarding responsibilities and behaviors that may violate information disclosure regulations [1][2]. Group 1: Securities False Statement Cases - The five typical cases of securities false statement responsibility disputes focus on issues such as "deceptive" share buybacks, the identification of predictive information, and the application of "safe harbor" rules [2][3]. - In the case of *ST Jintai, executives were found liable for failing to fulfill share buyback commitments, resulting in a compensation of approximately 780,000 yuan to investors [2]. - Shanghai Electric was held responsible for not timely disclosing performance losses, leading to false records in its 2020 annual report, and was denied the "safe harbor" rule exemption [2][3]. - In the financial fraud case of Zhong An Ke, three internal directors were held liable for relying excessively on intermediaries, while three independent directors were exempted from liability [2][3]. Group 2: Regulatory Enforcement Cases - The five regulatory enforcement cases focus on frequent violations such as "shell-preserving" financial fraud, performance-related financial manipulation, and abuse of control rights [3][4]. - Specific cases include *ST Jintai's executives violating buyback commitments, financial fraud in subsidiaries of Shanghai Shiji, and illegal share reductions by the controlling shareholder of Feikai Materials [4]. Group 3: Legal Responsibility Clarification - Recent judicial practices have introduced new types of disputes, including the legal applicability of different market segments and the identification of responsibilities for aiding fraudsters [5]. - The cases emphasize that information disclosure obligations cannot be evaded under the guise of predictive information and clarify the legal responsibilities of public commitments made by listed companies [5]. Group 4: Strict Enforcement and Accountability - The regulatory approach emphasizes strict enforcement and increased penalties for violations, particularly targeting key individuals responsible for financial fraud [6]. - For instance, the former chairman of Delisted Fuxin was found guilty of violating important information disclosure laws, while penalties were imposed on the controlling shareholder of Feikai Materials for illegal share reductions [6]. - The Shanghai Financial Court has received a total of 18,040 securities false statement responsibility disputes, with a total amount in dispute of 7.646 billion yuan, involving 26,956 investors [6][7].

Core Viewpoint - The article discusses the recent release of ten cases related to securities false statements by the Shanghai Financial Court and the Shanghai Securities Regulatory Bureau, providing clear guidelines for market participants regarding responsibilities and behaviors that may violate disclosure regulations [3][4]. Group 1: Case Summaries - The ten cases involve several listed companies, including *ST Jintai, Zhong An Ke, Shanghai Electric, and others, as well as delisted companies like退市富控 and *ST Ba'an [4]. - The five judicial cases focus on issues such as "deceptive" share buybacks, the identification of predictive information, and the application of "safe harbor" rules, with examples of both responsible and non-responsible parties [5]. - In the case of *ST Jintai, executives made false promises regarding share buybacks, leading to a court ruling that required them to compensate investors approximately 780,000 yuan [6]. - Shanghai Electric was found liable for failing to disclose performance losses in a timely manner, resulting in a false annual report, and was not granted exemption under the "predictive information safe harbor" rule [6]. - In the Zhong An Ke financial fraud case, three internal directors were held partially responsible for relying excessively on intermediaries, while three independent directors were exempted from liability [6]. - The case involving ST Xingyue highlighted that significant events affecting stock trading could sever the causal link for false statement claims, leading to the rejection of investor compensation requests [7]. Group 2: Regulatory Enforcement - The Shanghai Securities Regulatory Bureau's enforcement cases focus on frequent violations such as "shell protection" financial fraud, performance-related financial manipulation, and insider trading [7]. - Specific cases include violations by *ST Jintai executives regarding share buyback commitments, financial fraud by subsidiaries of Shanghai Shimao, and illegal share reductions by controlling shareholders of Feikai Materials [7]. - The regulatory approach emphasizes strict enforcement and increased penalties for key individuals involved in financial fraud, with notable penalties imposed on executives from退市富控 and *ST Ba'an [10]. Group 3: Legal and Regulatory Developments - Recent judicial practices have introduced new legal issues, including the application of laws across different market segments and the identification of predictive information [9]. - The article highlights the need for clarity in the legal responsibilities of public commitments made by company executives and the importance of not evading disclosure obligations under the guise of predictive information [10]. - The Shanghai Financial Court reported handling 18,040 securities false statement cases with a total amount of 7.646 billion yuan, indicating a significant number of investors involved [11].

Core Viewpoint - The Shanghai Financial Court and the Shanghai Securities Regulatory Bureau have released ten cases related to securities false statements, providing clear guidelines for market participants regarding responsibilities and behaviors that may violate information disclosure regulations [1][2]. Group 1: Key Cases and Responsibilities - The five typical cases of securities false statement responsibility disputes focus on issues such as "deceptive" share buybacks, the identification of predictive information, and the application of "safe harbor" rules [2][5]. - In the case of *ST Jintai, executives were found liable for false statements due to unfulfilled share buyback commitments, resulting in compensation of approximately 780,000 yuan to investors [2][4]. - Shanghai Electric was held responsible for failing to timely disclose performance losses and inaccurately measuring expected credit losses, leading to a false record in its 2020 annual report [2][3]. Group 2: Regulatory Enforcement and Penalties - The Shanghai Securities Regulatory Bureau has emphasized strict enforcement and increased penalties for frequent violations such as financial fraud and misuse of control rights [3][6]. - Notable penalties include a fine of 7.67 million yuan for the controlling shareholder of Feikai Materials for illegal share reductions and a 4 million yuan fine for the chairman of a subsidiary of Shanghai Shihua for financial fraud [6][4]. - The report indicates that as of December 2024, the Shanghai Financial Court has accepted 18,040 cases of securities false statement disputes, with a total amount in dispute of 7.646 billion yuan and 26,956 investors involved [6][7]. Group 3: Legal and Judicial Developments - New types of disputes have emerged in judicial practice, including the legal applicability of different market segments and the identification of responsibilities for predictive information [5][6]. - The report highlights the challenges in civil compensation cases related to false statements, particularly in the context of ongoing administrative investigations or criminal investigations [7]. - The need for improved coordination between civil lawsuits, administrative penalties, and criminal accountability is emphasized to enhance the effectiveness of investor protection [7].

格隆汇8月19日丨*ST金泰（维权）(300225.SZ)公布2025年半年度业绩预告，1-6月公司实现归属于上市 公司股东的净利润盈利700.00万元–1,000.00万元，比上年同期下降23%–46%；归属于上市公司股东的扣 除非经常性损益后的净利润盈利400.00万元–600.00万元，比上年同期下降49%–66%。 报告期内，公司与战略备库供应商终止合作，导致本期计提其他应收款坏账准备较上年同期增加700万 元；为提高公司产品的市场竞争力，公司持续加大产品研发力度，研发费用同比有所增长。综合上述原 因，导致公司净利润较上年同期有所减少。 ...

Group 1 - The core viewpoint of the news is that *ST Jintai (SZ 300225) is expecting a significant decline in net profit for the first half of 2025, with projections between 7 million to 10 million yuan, representing a year-on-year decrease of 23% to 46% [1] - The main reason for the profit decline is the termination of cooperation with strategic reserve suppliers, which has led to an increase of 7 million yuan in bad debt provisions for other receivables compared to the same period last year [1] - To enhance market competitiveness, the company is increasing its investment in product research and development, resulting in a year-on-year growth in R&D expenses [1] Group 2 - As of the report, the market capitalization of *ST Jintai is 2 billion yuan [2] - The revenue composition for *ST Jintai in 2024 is 68.8% from non-main engine manufacturers and 31.2% from main engine manufacturers [1]

[I. Current Period Performance Forecast](index=1&type=section&id=I.%E3%80%81Current%20Period%20Performance%20Forecast) This section details the forecast period and estimated net profit for H1 2025, both showing a significant year-over-year decline [1. Performance Forecast Period](index=1&type=section&id=1.%E3%80%81Performance%20Forecast%20Period) This chapter specifies the performance forecast period from January 1, 2025, to June 30, 2025 - The performance forecast period is from January 1, 2025, to June 30, 2025[3](index=3&type=chunk) [2. Estimated Performance](index=1&type=section&id=2.%E3%80%81Estimated%20Performance) This chapter details the estimated net profit and non-recurring net profit for H1 2025, both indicating a significant year-over-year decline - The estimated performance type is a **year-over-year decline**[3](index=3&type=chunk) Key Financial Indicators for H1 2025 Performance Forecast | Indicator | Estimated for Current Period (RMB 10,000) | Prior Year Same Period (RMB 10,000) | Year-over-Year Change Range | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | 700.00 – 1,000.00 | 1,299.45 | Decrease 23% – 46% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-recurring Gains and Losses | 400.00 – 600.00 | 1,179.52 | Decrease 49% – 66% | [II. Communication with Accounting Firm](index=1&type=section&id=II.%E3%80%81Communication%20with%20Accounting%20Firm) This section clarifies that the financial data for this performance forecast remains unaudited by an accounting firm - The financial data related to this performance forecast has not been audited by an accounting firm[4](index=4&type=chunk) [III. Explanation of Performance Changes](index=1&type=section&id=III.%E3%80%81Explanation%20of%20Performance%20Changes) This section explains the performance decline, citing increased bad debt provisions and higher research and development expenses - Due to the termination of cooperation with a strategic reserve supplier, the provision for bad debts on other receivables increased by **RMB 7 million** compared to the prior year[5](index=5&type=chunk) - To enhance product market competitiveness, the company continuously increased product research and development efforts, leading to a year-over-year increase in R&D expenses[5](index=5&type=chunk) - The combination of these factors resulted in a decrease in the company's net profit compared to the prior year[5](index=5&type=chunk) [IV. Other Related Explanations](index=1&type=section&id=IV.%E3%80%81Other%20Related%20Explanations) This section addresses non-recurring gains and losses, preliminary data disclosures, and investment risk warnings [1. Impact of Non-recurring Gains and Losses](index=1&type=section&id=1.%E3%80%81Impact%20of%20Non-recurring%20Gains%20and%20Losses) This chapter discloses the estimated impact of non-recurring gains and losses on net profit attributable to shareholders for H1 2025 - The company estimates that non-recurring gains and losses will impact net profit attributable to shareholders by approximately **RMB 3.8 million** for the first half of 2025[6](index=6&type=chunk) [2. Data Disclosure and Risk Warning](index=1&type=section&id=2.%E3%80%81Data%20Disclosure%20and%20Risk%20Warning) This chapter emphasizes the preliminary nature of forecast data, subject to the final semi-annual report, and warns investors of investment risks - The data in this performance forecast is a preliminary estimate by the company's finance department, with specific financial figures to be detailed in the '2025 Semi-Annual Report'[7](index=7&type=chunk)[8](index=8&type=chunk) - Investors are advised to exercise caution in their decisions and be aware of investment risks[8](index=8&type=chunk) [V. Documents for Reference](index=2&type=section&id=V.%E3%80%81Documents%20for%20Reference) This section identifies the Board of Directors' explanation for the 2025 semi-annual performance forecast as the reference document - The document for reference is the Board of Directors' explanation regarding the 2025 semi-annual performance forecast[9](index=9&type=chunk)

证券代码：300225 证券简称：*ST金泰 公告编号：2025-083 上海金力泰化工股份有限公司 关于股东公开征集表决权的公告 股东海南大禾企业管理有限公司保证向本公司提供的信息内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 本公司及监事会全体成员保证公告内容与信息披露义务人提供的信息一致。 海南大禾企业管理有限公司（以下简称"海南大禾"或"征集人"）作为上海金 力泰化工股份有限公司（以下简称"公司"）持股14.80%的股东，根据《证券法》 《公开征集上市公司股东权利管理暂行规定》等有关规定，向公司监事会提交《关于 股东海南大禾企业管理有限公司公开征集表决权的公告》，海南大禾作为征集人，就 公司拟于2025年9月12日召开的2025年第三次临时股东大会有关议案向公司全体股东征 集表决权。 一、征集人声明及承诺 1、征集人作为持有公司 1%以上有表决权的股东，符合《中华人民共和国证券法》 第九十条、《上市公司股东会规则》第三十二条、《公开征集上市公司股东权利管理 暂行规定》第三条规定的全部公开征集条件。 2、征集人按照法律、行政法规、中国证监会规章、规范性文件以及深圳证券交易 所的规定，依法开 ...

Core Viewpoint - The company *ST Jintai is facing significant scrutiny from regulators due to questionable financial transactions and internal disagreements among board members regarding the response to regulatory inquiries [3][4][5][6]. Group 1: Regulatory Inquiry - In early July, the Shanghai Securities Regulatory Bureau issued an inquiry letter to *ST Jintai, focusing on large financial transactions with related traders and equity investment matters [5]. - The company reported abnormal fund transfers with several trading companies, with over 900 million yuan in prepayments and refunds, while actual procurement was only about 29 million yuan, indicating a severe imbalance [5]. - An audit indicated a major risk of fund misappropriation, particularly concerning the company's dealings with equity investments and the flow of funds to unknown entities [5]. Group 2: Board Disagreements - On August 5, the board of directors held a meeting to discuss the response to the regulatory inquiry, but the proposal was ultimately rejected due to internal disagreements [8]. - Board member Liu Ruiming opposed the response, citing contradictions and insufficient investigation into the fund flow issues raised by the regulatory inquiry [8][9]. - Independent directors expressed concerns about the logic of the company's explanations regarding fund usage and the relationships with certain suppliers, questioning the validity of the claims made in the response [9]. Group 3: Legal and Compliance Issues - Reports indicate that a board member has filed a police report regarding potential fund misappropriation, escalating the situation and raising concerns among investors about the company's future [10][11]. - The company is under risk of delisting and faces increasing compliance and governance challenges if it fails to respond adequately to the regulatory inquiries [11].

上海金力泰化工股份有限公司 二、关于对第八届董事会独立董事候选人任职资格的审查意见 经审查，提名委员会认为：公司第八届董事会独立董事候选人徐丽慧女士、邦荔女 士、徐甲强先生不存在相关法律法规和《公司章程》中规定的不得担任董事的情形，不 存在被中国证监会确定为市场禁入者且尚未解除的情况，不存在重大失信等不良记录， 未受过中国证监会及其他有关部门的处罚和证券交易所纪律处分，具备担任上市公司独 立董事的履职能力。上述独立董事候选人已书面承诺参加最近一次独立董事培训并取得 独立董事资格证书。综上，提名委员会同意提名徐丽慧女士、邦荔女士、徐甲强先生为 1 公司第八届董事会独立董事候选人。 特此公告。 董事会提名委员会关于提名第八届董事会 董事候选人的审核意见 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上市公司独立董事 管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管 指引第2号——创业板上市公司规范运作》及《公司章程》等有关规定，上海金力泰化工股 份有限公司（以下简称"公司"）第八届董事会提名委员会基于独立判断的立场，对公司 第八届董事会非独立董事候选人和独立董事候选人的任 ...

2025.08.14 本文字数：4099，阅读时长大约6分钟 作者 |第一财经周斌 大额采购资金经8家贸易商"季度循环"、股权投资的资金去向不明，*ST金泰（300225.SZ）近15亿资金异常流转的问询回复陷入争议。 *ST金泰在8月12日披露的监管问询回复中称，2024年，该公司为规避原材料价格上涨风险，采取"战略备库"措施，向贸易商支付超9亿元资金，实际采购 金额仅2900余万元，资金流向与采购需求严重背离。其中，供应商部分资金流向非经营实体，与芮奈贸易（上海）有限公司（下称"芮奈"）的资金往来涉 嫌存在非经营性资金占用情况。 不仅如此，*ST金泰去年还向深圳怡钛积科技股份有限公司（下称"怡钛积"）支付了两笔股权投资款，合计金额4.6亿元，资金最终流向的、真实目的不 明。但该公司一名董事长称，这些资金中的大部分，经层层划转，最终流向了配资公司。 对于这些回复内容，该公司3名董事并不认同，并投了反对票。董事刘锐明认为，此次回复"避重就轻，罔顾事实"，战略备库供应商是受同一主体控制的 资金通道，公司管理层与实际控制人裴剑等人勾结，以不干涉采购部之由行侵占公司资金之实。 另据8月13日公告，*ST金泰董事会审 ...