Group 1 - The core point of the article is that Zhejiang Jingjiantou has signed a share transfer agreement with Guangzhou Yongjin Private Equity, transferring 7.4 million shares of Langjin Technology at a price of 18.54 yuan per share, which represents 8.0546% of the total share capital [1] - The share transfer is subject to approval from the relevant state-owned asset supervision authority and compliance review by the Shenzhen Stock Exchange before the transfer can be registered [1] - As of the announcement date, the share transfer has not yet completed the transfer procedures, indicating uncertainty regarding the completion of this transaction [1] Group 2 - The article also mentions a trend where local state-owned assets are beginning to acquire properties at auction prices, with over 60 units being purchased in the Nansha District of Guangzhou at prices around 6,000 to 7,000 yuan per unit, while the average listing price for similar second-hand homes in the same area exceeds 20,000 yuan [1]

Core Viewpoint - The regulatory authorities are intensifying their crackdown on financial misconduct, particularly focusing on the issue of fund occupation by major shareholders, signaling a shift towards more stringent and proactive governance measures in the capital market [1][2][5]. Group 1: Regulatory Actions - Jiangsu Harbin Intelligent Robot Co., Ltd. received a notice of administrative penalty from Jiangsu Securities Regulatory Bureau, with a proposed fine of 28.79 million yuan due to undisclosed related party non-operating fund occupation and other violations [1][2]. - Since the beginning of 2026, five companies have received penalties related to fund occupation, including two that have already been delisted, indicating a trend of rigorous enforcement by regulatory bodies [1][2]. - The new "National Nine Articles" emphasizes strict rectification of financial fraud and fund occupation, reinforcing the principle that "occupation must be repaid" and "delisting does not exempt from responsibility" [2][5]. Group 2: Impact on Companies - Jiangsu Harbin Intelligent's financial reports from 2017 to 2024 contained significant omissions due to non-disclosure of fund occupation, with an outstanding fund occupation balance of 198 million yuan as of July 28, 2025 [2]. - Jiangsu Sunshine Co., Ltd. also faced penalties for failing to disclose significant matters related to fund occupation, resulting in a total fine of 3.3 million yuan [3]. - The regulatory focus on fund occupation reflects a broader concern regarding corporate governance and the need for accountability among major shareholders [3][4]. Group 3: Governance Improvements - The regulatory authorities have introduced measures to enhance corporate governance, including the requirement for major shareholders and actual controllers to refrain from occupying company assets [4][5]. - A new regulatory framework is being developed to strengthen the legal basis for punishing fund occupation and related misconduct, aiming to create a market environment where major shareholders are deterred from such actions [5][6]. - The establishment of a multi-layered accountability system is underway, combining administrative penalties with civil and criminal liabilities to address fund occupation issues more effectively [6][7]. Group 4: Future Directions - Experts suggest that future efforts should focus on preventive measures, including real-time monitoring systems for fund transactions and strengthening the roles of independent directors and internal audits [7]. - The use of technology, such as big data, is recommended to enhance regulatory oversight and early warning capabilities regarding potential fund occupation [7].

Core Viewpoint - Shandong Langjin Technology Co., Ltd. has been penalized by the China Securities Regulatory Commission (CSRC) for failing to disclose related party non-operating fund occupation, amounting to 415.21 million yuan, which constitutes a significant violation of information disclosure regulations [2][6]. Group 1: Violation Details - From February 2024 to July 2025, Langjin Technology and its subsidiaries engaged in non-operating fund occupation with related parties, totaling 415.21 million yuan [2][6]. - The non-operating fund occupation from February to June 2024 was 86.49 million yuan, with a remaining balance of 2.49 million yuan as of June 30, 2024, accounting for 0.28% of the net assets disclosed in the 2024 semi-annual report [2][6]. - The total non-operating fund occupation from July 2024 to July 2025 was 328.72 million yuan, which was not disclosed in a timely manner [2][6]. Group 2: Penalties and Legal Actions - The CSRC decided to issue warnings and impose fines on Langjin Technology, its actual controller Li Jingmao, and related responsible personnel due to the violations [2][6]. - A prior announcement on December 17, 2025, indicated that affected investors could seek civil compensation for losses incurred due to the company's misleading disclosures [3][7]. - A lawyer from Shanghai Hanlian Law Firm is collecting claims from investors who purchased Langjin Technology's securities between August 30, 2024, and August 27, 2025, and either sold or held them after August 28, 2025 [8][7]. Group 3: Investor Compensation Process - Investors seeking compensation must provide specific documentation, including a copy of their ID, original securities account confirmation, and transaction records [9]. - The lawyer emphasized that while investors can file lawsuits without the administrative penalty as a prerequisite, having the penalty decision is still advisable to reduce the risk of losing the case [4][9].

关于持股 5%以上股东拟协议转让公司股份公开征集受让方的进 展公告 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，不存在虚 假记载、误导性陈述或重大遗漏。 证券代码：300594 证券简称：朗进科技 公告编号：2026-003 山东朗进科技股份有限公司 山东朗进科技股份有限公司（以下简称"朗进科技"或"公司"）持股 5%以 上股东浙江省经济建设投资有限公司（以下简称"浙江经建投"）拟通过公开征 集转让方式协议转让其持有的公司不超过 12,000,000 股股份，占公司总股本的 13.06%，转让价格不低于 18.54 元/股（以下简称"本次公开征集转让"）。 特此公告。 山东朗进科技股份有限公司 董事会 2026 年 1 月 16 日 在本次公开征集所规定的期限内，浙江经建投是否能够征集到符合条件的受 让方存在不确定性；在规定日期内征集到受让方后，所签《股份转让协议》仍须 经浙江经建投的上级国资部门批准后方可生效实施。是否能够通过批准以及股份 转让是否能够最终完成存在不确定性。 公司将按照有关法律、法规的规定和要求，根据本次公开征集转让的进展情 况及时履行信息披露义务，敬请广大投资者注意投资风险。 ...

Core Viewpoint - Shandong Langjin Technology Co., Ltd. has been penalized for securities false statements, leading to potential compensation claims from affected investors [1][2][4] Group 1: Company Violations - Langjin Technology and its subsidiaries engaged in non-operating fund occupation with related parties, totaling 415.21 million yuan from February 2024 to July 2025 [1][4] - From February to June 2024, the non-operating fund occupation amounted to 86.49 million yuan, with a balance of 2.49 million yuan as of June 30, 2024, representing 0.28% of the net assets disclosed in the 2024 semi-annual report [1][4] - The company failed to timely disclose the non-operating fund occupation in its 2024 semi-annual report, which contained significant omissions [1][4] Group 2: Regulatory Actions - The Shandong Securities Regulatory Bureau issued a warning to Langjin Technology and imposed a fine of 2.5 million yuan, while the actual controller, Li Jingmao, received a warning and a fine of 4.4 million yuan [2][5] - Related responsible persons also received warnings and fines as part of the regulatory actions [2][5] Group 3: Investor Compensation - Investors affected by the false statements can file compensation claims, which may include losses from price differences, commissions, and stamp duty [2][5] - Claims are applicable for investors who purchased Langjin Technology shares between August 30, 2024, and August 27, 2025, and still held them at the close on August 27, 2025 [2][5] - Required documentation for claims includes securities account information, stock reconciliation statements from August 1, 2024, to present, and contact information [2][5]

Market Overview - The rail transit equipment sector experienced a decline of 0.62% on January 16, with Bidu Technology leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Stock Performance - Notable gainers in the rail transit equipment sector included: - Gongda Gaoke (688367) with a closing price of 32.95, up 4.90% on a trading volume of 45,000 shares and a turnover of 146 million yuan [1] - Jiaoda Sino (300851) closed at 29.63, up 4.40% with a trading volume of 57,400 shares and a turnover of 174 million yuan [1] - Xianghe Industry (603500) closed at 12.96, up 3.43% with a trading volume of 87,000 shares and a turnover of 111 million yuan [1] Fund Flow Analysis - The rail transit equipment sector saw a net outflow of 79.08 million yuan from institutional investors, while retail investors experienced a net outflow of 75.46 million yuan [2] - Conversely, speculative funds recorded a net inflow of 155 million yuan [2] Individual Stock Fund Flow - China Railway Industry (600528) had a net inflow of 37.40 million yuan from institutional investors, but a net outflow of 34.22 million yuan from retail investors [3] - China Communication Signal (688009) saw a net inflow of 3.34 million yuan from institutional investors, while retail investors had a net outflow of 55.10 million yuan [3] - Xianghe Industry (603500) experienced a net inflow of 16.07 million yuan from institutional investors, with retail investors seeing a net outflow of 4.64 million yuan [3]

Regulatory Actions - On January 15, 2026, Langjin Technology and its actual controller Li Jingmao received an administrative penalty from the Shandong Securities Regulatory Bureau, which included a warning and a fine of 2.5 million yuan, along with warnings issued to five related parties totaling 7.65 million yuan in fines [1][7]. Violations and Fund Misappropriation - Langjin Technology was found to have failed to timely disclose non-operating fund occupation by related parties, indicating a dual violation that involved a complex fund transfer scheme lasting nearly two years among the listed company, multiple subsidiaries, and the controlling shareholder [2][8]. - The total amount of non-operating fund occupation exceeded 400 million yuan, with a balance of 248.70 thousand yuan as of June 30, 2024, which accounted for 0.28% of the net assets disclosed in the 2024 semi-annual report [3][9]. Disclosure Failures - The company did not disclose the non-operating fund occupation in a timely manner, leading to significant omissions in the 2024 semi-annual report [4][10]. - This fund occupation behavior continued from the second half of 2024 until July 2025, with no timely disclosures made by Langjin Technology during this period [5][11]. Remediation and Investor Relations - As of August 2025, the controlling shareholder, Langjin Group, had repaid the principal and interest related to the non-operating fund occupation [6][12]. - Langjin Technology has committed to enhancing the standardization of internal governance and improving the quality of information disclosure, while also apologizing to investors [2][8].

Regulatory Actions - Multiple listed companies are facing regulatory scrutiny for information disclosure violations, with Tianpu Co. and Xiangrikui being investigated, while Jushi Chemical received a pre-penalty notice [1][2][3] - ST Huilun and Langjin Technology have received administrative penalty decisions for various violations, including failure to disclose fund occupation and false financial reporting [4] Risk Warning Adjustments - New Asia Process and Yishite successfully removed risk warnings and changed their stock names, indicating improved market recognition after rectification [5] - ST Ningke has also had its delisting risk warning lifted, reflecting the resolution of previous issues related to timely information disclosure [5] Investor Litigation - Investors represented by the Xie Liang lawyer team have won a first-instance judgment against ST Renzihang for securities fraud, allowing eligible investors to register for compensation [6] - The case revealed that ST Renzihang had inflated revenue and profits through fictitious transactions, leading to significant financial misstatements in their reports [6] Compensation Conditions - Preliminary conditions for investor compensation have been outlined, specifying the time frames and stock purchase conditions for various companies involved in the regulatory actions [7] - Investors who meet these conditions can register their losses through designated platforms for potential legal action [8]

Core Viewpoint - Shandong Langjin Technology Co., Ltd. has been penalized for failing to disclose non-operating fund occupation by related parties, amounting to a total of 415.21 million yuan, which constitutes a violation of securities regulations [1][5][6]. Summary by Sections Violation Details - From February 2024 to July 2025, Langjin Technology and its subsidiaries engaged in non-operating fund occupation with its controlling shareholder, Qingdao Langjin Group, totaling 415.21 million yuan [1]. - The non-operating fund occupation from February to June 2024 was 86.49 million yuan, with a balance of 2.49 million yuan as of June 30, 2024, representing 0.28% of the net assets disclosed in the 2024 semi-annual report [1]. - The company failed to disclose these transactions in a timely manner, leading to significant omissions in its financial reports [1][5]. Responsible Parties - The actual controller and chairman, Li Jingmao, failed to fulfill his duties and did not disclose the non-operating fund occupation, violating multiple regulations [2][3]. - The former financial director and board secretary, Qiu Ruolong, also participated in the non-disclosure and failed to ensure accurate reporting in the 2024 semi-annual report [3]. - Other executives, including the vice chairman and general manager, Li Jing'en, and board members, did not take necessary actions to control the funds or ensure timely disclosures [4]. Disciplinary Actions - The Shenzhen Stock Exchange publicly reprimanded Langjin Technology and its key executives, including Li Jingmao, Qiu Ruolong, and Li Jing'en, for their roles in the violations [4]. - The company received a total fine of 2.5 million yuan for the violations, with individual fines imposed on the executives ranging from 50,000 to 440,000 yuan [6][7]. Financial Performance - For the first three quarters of 2025, Langjin Technology reported a revenue of 536 million yuan, a decrease of 8.12% year-on-year, and a net loss attributable to shareholders of 13.50 million yuan [7]. - The company's revenue for 2022 to 2024 was 771 million yuan, 902 million yuan, and 881 million yuan, with net losses increasing over the years [7]. Company Background - Langjin Technology was listed on the Shenzhen Stock Exchange on June 21, 2019, with an initial public offering raising approximately 422.75 million yuan [8]. - The stock price peaked at 48.99 yuan shortly after listing but has since experienced a decline, currently trading below its initial offering price [8].

Core Viewpoint - Langjin Technology's actual controller, Li Jingmao, was fined 4.4 million yuan due to the company's failure to timely disclose non-operating fund occupation by related parties, leading to significant omissions in regular reports [1][2] Group 1: Administrative Penalties - Langjin Technology received a warning and a fine of 2.5 million yuan from the Shandong Securities Regulatory Bureau for failing to disclose non-operating fund occupation by related parties [1] - A total of 765,000 yuan in fines was imposed on five related parties, with Li Jingmao specifically fined 4.4 million yuan (3 million yuan as the actual controller and 1.4 million yuan as the directly responsible supervisor) [1] Group 2: Financial Details - From February 2024 to July 2025, the total amount of non-operating fund occupation by related parties reached 415.2063 million yuan [1] - The amount of non-operating fund occupation from February to June 2024 was 86.487 million yuan, with a balance of 2.487 million yuan as of June 30, 2024 [1] - The amount of non-operating fund occupation from July 2024 to July 2025 was 328.7193 million yuan, which was repaid by Langjin Group by August 2025 [2] Group 3: Accountability and Disclosure Issues - Li Jingmao was aware of the non-operating fund occupation and failed to disclose it, signing the 2024 semi-annual report, which contained significant omissions [2] - Li Jingmao's actions constituted a violation of Article 197 of the Securities Law, as he organized and instructed Langjin Technology to engage in non-operating fund occupation, leading to illegal information disclosure [2]