（原标题：惠伦晶体将被ST，涉嫌财务造假） 南方财经记者 程浩 东莞报道 12月9日晚，惠伦晶体公告称，公司及实控人赵积清等多名当事人收到来自中国证券监督管理委员会广 东监管局（以下简称"广东证监局"）的《行政处罚事先告知书》。 告知书显示，经查明，惠伦晶体、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，致使公司2021年、2022年年度报告虚假记载等行为 ，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。 惠伦晶体股票自12月10日开市起停牌1天，12月11日复牌后被实施其他风险警示。其股票简称变更为ST 惠伦，日涨跌幅限制不变，仍为20%。 为掩盖控股股东、实控人资金占用导致业绩造假 石英晶体作为各种优质的选频、稳频和时基标准，是电子学、通信工程、计算机、航空航天及消费类电 子产品中必不可少的元器件，被誉为电子整机的"心脏"。 惠伦晶体是一家专业从事石英晶体元器件系列产品研发、生产和销售的高新技术企业，专注压电石英晶 体频率元器件行业超20年，是国家专精特新"小巨人"、广东省级制造 ...

Group 1 - Jinggong Technology signed a sales contract with Hubei Yuchuang worth 729 million yuan, accounting for 42.16% of the company's audited revenue for 2024 [1] - Heshun Electric is expected to win a bid for a State Grid procurement project worth 107 million yuan, representing 24.97% of the company's 2024 revenue [2] - Yongmaotai plans to invest approximately 400 million yuan in a new intelligent manufacturing project for magnesium-aluminum alloy materials [3] Group 2 - Longi Green Energy announced the termination of its plan to issue global depositary receipts abroad, stating it will not significantly impact its operations [4] - Bai Ao Intelligent is expected to win bids for projects totaling 27.5 million yuan [5] - Lian Biological is planning a change of control and asset purchase, leading to a temporary suspension of its stock [6] Group 3 - Bo Rui Communication intends to acquire 51% of Meijing Technology for 66.49 million yuan [7] - Huitai Medical plans to repurchase shares worth 200 to 250 million yuan for employee stock ownership plans [8] - Yifang Biological is planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange [9] Group 4 - Jiuqiang Biological's shareholders signed an agreement for the transfer of 5% of the company's shares to China National Pharmaceutical Investment [11] - Songcheng Performing Arts plans to repurchase shares worth 100 to 200 million yuan for capital reduction [12] - Zhonghong Medical's subsidiary is expected to be selected for a centralized procurement project in Jiangxi Province [13] Group 5 - Xingfu Electronics plans to invest 480 million yuan in a new electronic-grade phosphoric acid project [14] - Jiaao Environmental Protection's stock will be subject to risk warnings due to an administrative penalty [15] - ST Nuotai received a drug registration certificate for a new injection [16] Group 6 - Haimo Technology plans to sell its controlling subsidiary, Xian Sitian Instrument, for 370 million yuan [17] - Jingce Electronics signed multiple sales contracts with a single customer totaling 433 million yuan [18] - Donghua Testing's controlling shareholder plans to reduce its stake by up to 1.99% [19][20] Group 7 - Xingqi Eye Medicine completed the first subject enrollment for a Phase II clinical trial of its eye drop product [21] - Kute Intelligent's controlling shareholder plans to reduce its stake by up to 2% [22] - Dongcheng Pharmaceutical's subsidiary received approval for a new specification of a heparin sodium injection [23] Group 8 - Zhaoyi Innovation is in the process of issuing H-shares and has received regulatory approval [24] - Aokang International's shareholder plans to reduce its stake by up to 3% [25] - Jiamei Packaging's controlling shareholder is planning a change of control, leading to a temporary stock suspension [26] Group 9 - ST Kevin's stock will have its risk warning lifted and will resume trading [27] - Zaiseng Technology's controlling shareholder plans to transfer 6.04% of the company's shares [28] - Lide New Energy's shareholder plans to reduce its stake by up to 1% [29] Group 10 - Srypu terminated its plan to acquire shares and will resume trading [30] - Longjiang Transportation's subsidiary plans to invest 2.679 billion yuan in a graphite mining project [31] - Haowei Group's controlling shareholder has not reduced its stake and has terminated the reduction plan [32] Group 11 - Huilun Crystal received an administrative penalty notice for information disclosure violations [33] - Haiguang Information terminated a major asset restructuring plan [34] - Zhongke Shuguang announced a cash dividend plan [35] Group 12 - Fushuo Technology's share purchase plan was approved by the Shenzhen Stock Exchange [36] - Dongbai Group's shareholder reduced its stake by 25.95 million shares [38]

Core Insights - The domestic market for high-end quartz crystal resonators is experiencing strong demand, prompting local manufacturers to expand production capacity and increase R&D investment to enhance their supply capabilities in the high-end market [1][10] - The quartz crystal resonator industry in China has grown from 5.496 billion yuan in 2015 to 8.288 billion yuan in 2024, with a compound annual growth rate (CAGR) of 4.67% [1][10] - Emerging applications in 5G communication, wearable electronics, automotive electronics, and the Internet of Things (IoT) are driving significant market opportunities for the quartz crystal resonator industry [1][10] Industry Overview - Quartz crystal components, known as crystal oscillators, are frequency control devices made from quartz crystals utilizing the piezoelectric effect [2][4] - The industry is categorized into quartz crystal resonators and oscillators, with further classifications based on frequency and packaging methods [2][4] Industry Policies - The Chinese government has increased policy support for the quartz crystal resonator industry, promoting new electronic components and smart manufacturing [7] - Key policies include the inclusion of new electronic components in the encouraged category of the 2024 Industrial Structure Adjustment Guidance Catalog and the 2025-2026 Action Plan for Stable Growth in the Electronic Information Manufacturing Industry [7] Industry Chain - The quartz crystal resonator industry chain consists of upstream raw materials (quartz sand, packaging materials), midstream manufacturing, and downstream applications (communication devices, consumer electronics) [6][8] Current Industry Development - Since 2018, Japanese companies have reduced capital expenditures, creating opportunities for Chinese manufacturers to expand in the quartz crystal resonator market [10] - From 2015 to 2024, China's production of quartz crystal resonators increased from 11.94 billion units to 23.298 billion units, with a CAGR of 7.71% [10] Competitive Landscape - The industry features a tiered competitive structure, with international giants leading the high-end market and domestic companies like Unisoc, Dongjing Electronics, and others gaining ground in mid to high-end segments [10][11] - Domestic companies are increasing R&D investments to enhance product consistency and reliability, narrowing the gap with international competitors [10] Development Trends - The industry is moving towards miniaturization, high frequency, low phase noise, and low aging rates to meet the demands of advanced applications [13][14][17] - Manufacturers are focusing on advanced packaging technologies and optimizing design processes to achieve these goals [13][14][17]

南财智讯12月10日电，惠伦晶体公告，公司因披露的2021年、2022年年度报告存在虚假记载，根据广东 证监局下发的《行政处罚事先告知书》及《深圳证券交易所创业板股票上市规则》相关规定，公司股票 交易将被实施其他风险警示。公司股票自2025年12月10日开市起停牌1天，于2025年12月11日开市起复 牌。复牌后，证券简称由"惠伦晶体"变更为"ST惠伦"，证券代码仍为300460，股票交易日涨跌幅限制仍 为20%。 ...

影响股市利好与利空消息 宏观新闻 1、中共中央政治局委员、国务院副总理何立峰12月9日下午在京会见美国科恩集团高级顾问艾伦。何立 峰表示，中美应不断拉长合作清单，为两国经贸关系打开新的合作空间。 2、日本媒体报道称，由于北京和东京之间的外交争端，中国向日本出口稀土出现延误。外交部发言人 郭嘉昆对此表示，中方主管部门已经多次介绍了稀土相关物项出口管制的工作情况，中方正在依法依规 处理有关问题。 3、美国总统特朗普称将批准向中国出售英伟达H200人工智能芯片，外交部发言人郭嘉昆在昨日主持的 例行记者会上表示，我们注意到有关报道，中方一贯主张中美通过合作实现互利共赢。 4、白宫国家经济委员会主任凯文·哈塞特表示，美联储有"大量降息空间"。当采访者问其这是否意味着 超过25个基点时，哈塞特回答说："没错"。 5、乌克兰总统泽连斯基当地时间12月9日称，已就举行选举做好准备，同时请求美国及欧洲伙伴协助保 障选举安全，乌克兰可在未来60至90天内完成选举相关筹备工作。 行业新闻 1、昨日有消息称"多晶硅平台公司注册"，公司名称为北京光和谦成科技有限责任公司，注册资本30 亿，成立日期为2025年12月9日，公司住所在北京 ...

Group 1: Company Announcements - Haiguang Information and Zhongke Shuguang have agreed to terminate the proposed share-swap merger transaction, with an investor briefing scheduled for December 10 [4][5] - Lain Bio is planning a change of control, issuing shares, and cash payment for asset acquisition, leading to a stock suspension starting December 10 [5][6] - SIRUI has decided to terminate the major asset restructuring plan involving the acquisition of shares in Ningbo Aola Semiconductor, with stock resuming trading on December 10 [5][6] Group 2: Financial Data and Corporate Actions - Haiguang Information plans to distribute a cash dividend of 0.9 yuan per 10 shares, totaling 2.09 billion yuan, while Zhongke Shuguang will distribute 0.7 yuan per 10 shares, totaling 1.02 billion yuan [5] - Lain Bio's control change may lead to a new major shareholder, with plans to acquire at least 80% of Beijing Jinkangpu Food Technology Co., which will become a subsidiary [5][6] - Hao Wei Group's major shareholder has decided to terminate a planned share reduction of up to 24 million shares, representing 1.99% of total shares [7] Group 3: Industry Developments - A new platform for polysilicon capacity integration has been established, focusing on strategic cooperation opportunities within the industry [1] - Guizhou Province is drafting measures to boost the sales of local liquor, including enhancing online sales and implementing export strategies [2] - The first MUSA Developer Conference will be held by Moore Threads, focusing on their full-stack development strategy and new GPU architecture [2] Group 4: Regulatory and Compliance Issues - Jiaao Environmental Protection received a notice of administrative penalty for information disclosure violations, leading to a temporary stock suspension and risk warning [8] - Huilun Crystal will also face a temporary stock suspension and risk warning due to compliance issues [8] - Tianyuan Dike's chairman is under investigation, but the company states it will not significantly impact operations [8] Group 5: Market Trends and Investment Opportunities - CITIC Securities suggests focusing on domestic demand stability and external demand breakthroughs in the power equipment sector for investment opportunities in 2026 [11]

Core Viewpoint - Huineng Crystal (300460) is facing administrative penalties from the Guangdong Securities Regulatory Bureau for violations related to information disclosure, including significant omissions in financial reports and inflated costs and revenues in 2021 and 2022 [1][4][8]. Summary by Sections Information Disclosure Violations - Huineng Crystal and its actual controller Zhao Jiqing are accused of failing to disclose related party fund occupation in the 2020 annual report, which had a significant omission [4]. - The company transferred a total of 28.33 million yuan to related parties, constituting 5.12% of the net assets disclosed in the 2020 report [4]. Financial Misstatements - The company inflated costs and revenues in the 2021 and 2022 annual reports to cover up the fund occupation, resulting in a fictitious increase in costs of 8.64 million yuan in 2021 and 23.95 million yuan in 2022 [5][6]. - Huineng Crystal reported inflated operating revenues of 25.49 million yuan in 2021 and 62.33 million yuan in 2022, with corresponding inflated profits of 17.08 million yuan and 21.31 million yuan respectively [6][7]. Regulatory Actions - The Guangdong Securities Regulatory Bureau plans to impose a fine of 3 million yuan on Huineng Crystal and issue warnings to several executives, including Zhao Jiqing, who faces a total fine of 4 million yuan [8]. - The company's stock will be subject to risk warnings starting December 11, with a name change to "ST Huineng" [1][8]. Financial Performance - Huineng Crystal has reported continuous losses from 2022 to 2024, totaling approximately 530 million yuan [9]. - For the first three quarters of 2025, the company reported revenues of 422 million yuan, a year-on-year decrease of 4.67%, and a net loss of 76.12 million yuan, a significant decline of 4566.64% [10].

嘉澳环保（603822）12月9日晚间公告，公司于2025年12月9日收到中国证券监督管理委员会浙江监管局 下发的《行政处罚事先告知书》（简称《事先告知书》）。 经查，嘉澳环保披露的2022年年度报告和2023年年度报告相关财务数据存在虚假记载。其中，2022年虚 减营业成本1344.42万元，虚减财务费用576.75万元，虚增利润总额1921.17万元、占当期披露利润总额 绝对值的28.91%，虚增净利润1525.82万元、占当期披露净利润绝对值的49.06%； 2023年虚减营业成本 1355.82万元，虚增利润总额1355.82万元、占当期披露利润总额绝对值的63.72%，虚增净利润1044.14万 元、占当期披露净利润的200.38%，且2023年净利润由亏损转为盈利。 依据《事先告知书》载明的内容，根据《上海证券交易所股票上市规则（2025年4月修订）》第9.8.1条 规定："上市公司出现以下情形之一的，本所对其股票实施其他风险警示：（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，但未触及本规则第9.5.2条第 一款规定情形，前述财务指标包括营业收入、利润 ...

因虚增收入利润等行为，惠伦晶体（300460）即将"戴帽"。 惠伦晶体涉嫌信息披露违法违规被立案一事，有了结果。 今年4月，惠伦晶体公告，公司及实控人赵积清分别收到证监会下发的立案告知书，因涉嫌信息披露违法违规，证监会决定对公司及赵积 清立案。12月9日晚间，惠伦晶体公告，公司及相关当事人已收到广东证监局下发的《行政处罚事先告知书》（下称"告知书"）。 告知书显示，经查明，惠伦晶体、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。 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、东莞市某拆迁有限公司等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。惠伦晶体在2020年年 度报告中未予披露，构成重大遗漏。 告知书显示，2021年至2022年期间，为掩盖上述资金占用行为，惠伦晶体向供应商支付款项后，在公司账面虚构了原材料、固定资产等资 产。 上述资产以结转原 ...

经查，嘉澳环保披露的2022年年度报告和2023年年度报告相关财务数据存在虚假记载。其中，2022年虚 减营业成本1344.42万元，虚减财务费用576.75万元，虚增利润总额1921.17万元、占当期披露利润总额 绝对值的28.91%，虚增净利润1525.82万元、占当期披露净利润绝对值的49.06%； 2023年虚减营业成本 1355.82万元，虚增利润总额1355.82万元、占当期披露利润总额绝对值的63.72%，虚增净利润1044.14万 元、占当期披露净利润的200.38%，且2023年净利润由亏损转为盈利。 依据《事先告知书》载明的内容，根据《上海证券交易所股票上市规则（2025年4月修订）》第9.8.1条 规定："上市公司出现以下情形之一的，本所对其股票实施其他风险警示：（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，但未触及本规则第9.5.2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。 突发。 嘉澳环保（603822）12月9日晚间公告，公司于2025年12月9日收 ...