Core Points - Next week, a total of 36 stocks will face a lock-up expiration, with a combined market value of 40.081 billion yuan [5] - Xinhua Jin (600735) announced that due to non-operational fund occupation by related parties, its stock will be subject to risk warnings and will be renamed to "ST Xinhua Jin" starting September 30 [1] - Meichen Technology (300237) will also be renamed to "ST Meichen" after receiving a notice of administrative penalty for financial fraud, which inflated revenue by 1.438 billion yuan from 2014 to 2018 [3] Summary by Category Lock-up Expiration - 36 stocks will have a total lock-up expiration market value of 40.081 billion yuan next week [5] - Ningbo Port will have 3.647 billion shares listed for circulation, with a lock-up market value of 13.202 billion yuan [6] - Wankai New Materials will have 230 million shares listed for circulation, with a lock-up market value of 4.665 billion yuan [7] Risk Warnings - Xinhua Jin's stock will be suspended for one day on September 29 and will be subject to risk warnings starting September 30 due to non-operational fund occupation of 406 million yuan [1] - Meichen Technology's stock will also be suspended for one day on September 29 and will be renamed to "ST Meichen" due to financial fraud involving inflated revenue of 1.438 billion yuan [3] Performance and Market Reactions - Among the 36 stocks facing lock-up expiration, 7 reported losses in the first half of the year, with losses exceeding 50 million yuan for several companies [11] - The average stock price of the 36 stocks has increased by 0.64% since September [10] - Notable stock price increases include Weiteou and Tonglian Precision, which rose by 59.4% and 41.67% respectively [10]

Core Viewpoint - Meicheng Technology has been found guilty of financial fraud over a five-year period, leading to regulatory penalties and a change in stock status to "ST Meicheng" starting September 30, 2025 [1][4]. Group 1: Financial Fraud Details - From 2014 to 2018, Meicheng Technology, through its wholly-owned subsidiary, falsely inflated revenue by a total of 1.438 billion yuan and profits by nearly 658 million yuan [1][2]. - The fraudulent activities included false procurement of labor and seedlings, which inflated construction costs and completion percentages, as well as fictitious sales of seedlings and misrecording of costs [2]. - The annual revenue inflation was reported as follows: 23.66 million yuan (2014), 373 million yuan (2015), 726 million yuan (2016), 215 million yuan (2017), and 101 million yuan (2018), representing 2.06%, 20.67%, 24.60%, 5.53%, and 2.88% of reported revenues respectively [2]. - Profit inflation for the same years was reported as: 22.93 million yuan (2014), 189 million yuan (2015), 260 million yuan (2016), 117 million yuan (2017), and 69.49 million yuan (2018), accounting for 17.91%, 75.64%, 49.78%, 15.49%, and 15.58% of reported profits respectively [2]. Group 2: Regulatory Actions - The Shandong Securities Regulatory Bureau has proposed a fine of 600,000 yuan against Meicheng Technology and intends to hold 12 individuals accountable, including significant fines and a 10-year market ban for the former chairman of the subsidiary [3]. - The company will face a risk warning on its stock, which will be renamed "ST Meicheng" starting September 30, 2025, following the issuance of the administrative penalty notice [4]. - Meicheng Technology has stated that despite the financial discrepancies, the violations do not warrant a mandatory delisting, and the company plans to enhance its internal governance and information disclosure practices [5].

在被监管立案调查近半年后，美晨科技五年财务造假事实被公之于众。 9月26日晚，美晨科技（SZ300237，股价3.22元，市值46.43亿元）公告称，于近日收到中国证券监督管 理委员会山东监管局（以下简称"山东证监局"）下发的《行政处罚事先告知书》。 经查明，2014年至2018年，美晨科技通过其全资子公司杭州赛石园林集团有限公司（以下简称"赛石园 林"）实施财务造假，累计虚增营业收入14.38亿元，累计虚增利润近6.58亿元。 《每日经济新闻》记者注意到，山东证监局不仅拟对美晨科技处以60万元罚款，还拟对12名相关责任人 进行追责，其中时任赛石园林董事长的郭柏峰被处以30万元罚款，并拟被采取10年证券市场禁入措施。 受此影响，美晨科技股票将自2025年9月30日起被实施其他风险警示，股票简称由"美晨科技"变更为"ST 美晨"。 5年虚增营收超14亿元 告知书显示，美晨科技此次信息披露违法违规行为的源头，要追溯到2014年9月的一场并购。彼时，美 晨科技通过发行股份购买资产的方式，收购郭柏峰等持有的赛石园林股权，赛石园林自此成为美晨科技 全资子公司。 经查明，赛石园林主要通过两种途径虚增业绩：一是通过虚假采购 ...

Group 1: Meicheng Technology - Meicheng Technology announced that its annual report financial indicators contained false records, leading to a one-day suspension of its stock on September 29, with a risk warning implemented from September 30, changing its stock name to "ST Meicheng" [1][4] - The company was found to have inflated revenue and profits by a total of 1.438 billion yuan and 658 million yuan respectively from 2014 to 2018 through various fraudulent activities [3][4] - The Shandong Securities Regulatory Commission proposed a fine of 600,000 yuan for the company and various fines for involved individuals, with the most severe penalty being a 10-year market ban for the individual Guo Bofeng [4][5] - Despite the recent issues, Meicheng Technology's stock price had increased by approximately 250% from April 8 to September 15, although it experienced a nearly 20% pullback recently [5] Group 2: Xinhua Jin - Xinhua Jin announced that due to non-operational fund occupation by related parties and failure to rectify within one month, its stock would also be suspended for one day on September 29, with a risk warning effective from September 30, changing its stock name to "ST Xinhua Jin" [1][7] - As of the half-year report in 2025, Xinhua Jin and its related parties had a non-operational fund occupation balance of 406 million yuan, which had not been repaid [7][8] - The company is actively working to resolve the issues highlighted in the regulatory measures and is taking steps to recover occupied funds [8]

Core Viewpoint - Two A-share stocks, Meichen Technology and Xinhua Jin, are set to be marked as ST due to financial irregularities and non-compliance with regulatory requirements [1][6]. Group 1: Meichen Technology - Meichen Technology announced that it will be marked as ST due to false financial reporting in its annual reports from 2014 to 2018, resulting in a cumulative inflated revenue of 1.438 billion and inflated profit of 658 million [2][3]. - The Shandong Securities Regulatory Bureau has proposed penalties including a fine of 600,000 yuan for the company and fines ranging from 100,000 to 300,000 yuan for several individuals involved [2][3]. - The company’s stock will be suspended for one day on September 29 and will resume trading on September 30 under the new name "ST Meichen," with a trading limit of 20% [3][4]. - Despite the recent issues, Meichen Technology's stock had a significant increase of nearly 250% from April 8 to September 15, although it has recently corrected by about 20% [5]. Group 2: Xinhua Jin - Xinhua Jin will also be marked as ST due to the non-operational occupation of funds by related parties, totaling 406 million yuan, which was not rectified within the required timeframe [6][7]. - The company received a regulatory notice requiring the return of the occupied funds within six months, but as of the announcement date, the funds had not been returned [6]. - Xinhua Jin's stock will also be suspended for one day on September 29 and will resume trading on September 30 under the new name "ST Xinhua Jin," with a trading limit of 5% [6].

Mergers and Acquisitions - Century Hengtong plans to acquire a 13% stake in Qiantong Zhili for 113 million yuan, which will make Qiantong Zhili an associate company but not included in the consolidated financial statements [1] - Dongxing Medical intends to purchase 90% of Wuhan Yijiaobao for cash, which is expected to constitute a major asset restructuring, making Wuhan Yijiaobao a subsidiary [2] - Aerospace Engineering aims to acquire a total of 28% stake in Aerospace Hydrogen, with investments of 273 million yuan and 186 million yuan, increasing its ownership from 34.35% to 62.60% [3] Shareholding Changes - Yidian Tianxia's controlling shareholder plans to reduce its stake by up to 3%, equating to 14.16 million shares over the next three months [4] - Fengyuzhu's shareholder plans to reduce its stake by no more than 3% within three months, with the price determined by market conditions [5] Investment Agreements - Hongfuhan plans to invest up to 1.128 billion yuan to establish a joint venture for a photovoltaic energy storage project in the Democratic Republic of Congo, with a total project investment of approximately 1.41 billion yuan [6] - Aerospace Engineering has signed a total contract worth 2.392 billion yuan for a coal gasification project with Shaanxi Coal and Chemical Group [7] - Zhongchuang Zhiling intends to invest 5 billion yuan to establish a new energy vehicle parts industry base and R&D center in Changzhou [9] Risk Matters - Meichen Technology reported inflated profits of 658 million yuan from 2014 to 2018, facing penalties from the regulatory authority [10] - Xinhua Jin will be subject to ST designation and will suspend trading due to non-operational fund occupation, with a balance of 406 million yuan [11]

Core Points - Meichen Technology (300237) will be designated as "ST" starting September 30 due to false disclosures in its annual reports from 2014 to 2018 [2][4] - The stock will be suspended for one day on September 29 and will resume trading on September 30 [4] - The designation does not trigger a mandatory delisting, as the violations are not classified as severe [4] Financial Misstatements - Meichen Technology inflated its revenue by a total of 1.438 billion yuan and profits by 658 million yuan from 2014 to 2018 [4][5] - The inflated revenues for each year were as follows: 23.66 million yuan (2014), 373 million yuan (2015), 726 million yuan (2016), 215 million yuan (2017), and 101 million yuan (2018) [4] - The inflated profits for the same period were: 22.93 million yuan (2014), 189 million yuan (2015), 260 million yuan (2016), 117 million yuan (2017), and 69.49 million yuan (2018) [5] Related Company Actions - Another company, Xinhua Jin (600735), will also be designated as "ST" due to non-operational fund occupation by related parties [5] - Xinhua Jin's stock will be suspended on September 29 and will also be subject to risk warnings starting September 30 [5] - As of the announcement date, Xinhua Jin's related parties had not repaid 406 million yuan of occupied funds [5]

美晨科技下周将被"ST"。 9月29日（星期一），公司股票将停牌1天，9月30日（星期二）开市起复牌。 美晨科技（300237）9月26日晚间公告称，公司股票自9月30日（星期二）被实施其他风险警示，股票简称由"美 晨科技"变更为"ST美晨"；股票代码不变，仍为"300237"。实施其他风险警示后，股票交易日涨跌幅限制不变， 仍为20%。 公告显示，截至该公告披露日，新华锦集团及其关联方尚未归还占用资金，非经营性占用公司资金余额4.06亿 元。 责编：万健祎 校对： 刘星莹 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体法律责 任的权利。 公告显示，公司股票本次被"ST"，是由于公司披露的2014年至2018年年度报告存在虚假记载，但未触及重大违 法强制退市的情形。 同日，公司公告收到中国证券监督管理委员会山东监管局下发的《行政处罚事先告知书》（以下简称《告知 书》）。 《告知书》显示，2014年9月，美晨科技以发行股份购买资产方式收购郭柏峰等持有的杭州赛石园林集团有限公 司（以下简称赛石园林）股权，赛石园林自此成为美晨科技全资子公司。 2014年至 ...

因连续五年造假、累计虚增收入超14亿元、累计虚增利润超6亿元，美晨科技（300237）及其时任高管及相关人员被监管处罚！ 9月26日晚，美晨科技发布公告，公司及相关当事人收到山东证监局下发的《行政处罚事先告知书》，美晨科技涉嫌信息披露违法违规一案已由山东证监 局调查完毕，山东证监局依法拟对公司及相关当事人作出行政处罚。 根据相关规定，公司股票自9月30日（星期二）将被实施其他风险警示，股票简称由"美晨科技"变更为"ST美晨"，股票代码仍为"300237"。 经查明，美晨科技涉嫌违法的事实如下： 2014年9月，美晨科技以发行股份购买资产方式收购郭柏峰等持有的杭州赛石园林集团有限公司（以下简称"赛石园林"）股权，赛石园林自此成为美晨科 技全资子公司。 2014年至2018年，赛石园林通过虚假采购劳务、苗木等方式虚增工程施工成本及完工百分比，从而虚增收入、利润；通过虚假销售苗木、虚减相关费用、 收入成本错记等方式虚增收入、利润，导致美晨科技累计虚增收入14.38亿元，累计虚增利润6.58亿元。美晨科技2014年至2018年年度报告存在虚假记载。 山东证监局认为，美晨科技2014年至2018年年度报告存在虚假记载的 ...

美晨科技表示，根据山东证监局下发的《行政处罚事先告知书》认定的情况，公司披露的2014年至2018 年年度报告存在虚假记载。根据《深圳证券交易所创业板股票上市规则》第9.4条规定："上市公司出现 下列情形之一的，本所对其股票交易实施其他风险警示：（七）根据中国证监会行政处罚事先告知书载 明的事实，公司披露的年度报告财务指标存在虚假记载，但未触及第10.5.2条第一款规定情形，前述财 务指标包括营业收入、利润总额、净利润、资产负债表中的资产或者负债科目"，公司股票将被实施其 他风险警示，但未触及《深圳证券交易所创业板股票上市规则》第十章第五节规定的重大违法强制退市 的情形。 北京商报讯（记者 马换换 王蔓蕾）9月26日晚间，美晨科技（300237）披露公告称，公司股票自9月29 日开市起停牌1天，将于9月30日开市起复牌。公司股票自9月30日被实施其他风险警示，股票简称由"美 晨科技"变更为"ST美晨"；股票代码不变，仍为"300237"；实施其他风险警示后，股票交易日涨跌幅限 制不变，仍为20%。 ...