Core Insights - The stock of Korys increased by 2.62% on November 27, with a trading volume of 53.1 million yuan [1] - Korys reported a financing net purchase of 4.13 million yuan on the same day, with a total financing and margin balance of 34.67 million yuan, representing 4.78% of its market capitalization [1] - The company achieved a revenue of 128 million yuan in the first nine months of 2025, reflecting a year-on-year growth of 2.88%, while the net profit attributable to shareholders decreased by 22.19% to 10.43 million yuan [2] Financing and Margin Data - On November 27, Korys had a financing purchase of 7.93 million yuan, with a financing balance of 34.67 million yuan, which is below the 20th percentile level of the past year [1] - There were no short sales or repayments on the same day, indicating a high level of short selling balance at 0.00 shares, which is above the 90th percentile level of the past year [1] Shareholder and Dividend Information - As of September 30, 2025, Korys had 6,894 shareholders, a decrease of 4.21% from the previous period, with an average of 2,357 circulating shares per shareholder, an increase of 4.40% [2] - The company has distributed a total of 90.44 million yuan in dividends since its A-share listing [3] - Notable institutional shareholders include Noan Multi-Strategy Mixed A and CITIC Prudential Multi-Strategy Mixed A, both of which are new shareholders [3]

Core Viewpoint - The company Korys (301314.SZ) has received a regulatory letter due to multiple violations, including improper disclosure of related party transactions and irregularities in the management and use of raised funds [1][3]. Summary by Category Related Party Transactions - Korys failed to properly disclose related party transactions, particularly regarding the leasing of factory premises from related parties from May 2018 to December 2024, which was not disclosed until the 2024 annual report [1][2]. - In the 2023 annual report, Korys disclosed related party transactions with Zhuhai Bojie Electronics Co., Ltd. (002975.SZ) but did not fully disclose transactions with its subsidiaries [2]. - The reported sales amount with Zhuhai Bojie was approximately 1.65 million yuan, an increase from approximately 1.00 million yuan in the previous period [2]. Fundraising Management and Use - Korys exhibited irregularities in the management and use of raised funds, with two fundraising projects being improperly accounted for in the same building, leading to discrepancies in reported project progress [3]. - As of June 30, 2025, the cumulative investment in the "High-end Fully Automatic Precision Magnetic Component Winding Equipment Technology Upgrade and Expansion Project" was approximately 125 million yuan, while the "Innovation R&D Center Project" received about 34.91 million yuan, with both projects not yet generating economic benefits [3]. Insider Information Management - Korys has been found to have inadequate management of insider information, lacking detailed records of personnel involved in significant matters and incomplete registration of insider information in the 2023 and 2024 annual reports [4]. - The company did not timely document and manage insider information during the planning of stock incentive matters, leading to regulatory actions requiring corrective measures [4].

Core Viewpoint - The company Korysi (301314.SZ) has received regulatory penalties from the Guangdong Securities Regulatory Bureau due to multiple violations, including issues related to related party transactions, fundraising usage, and management of insider information [1][2]. Group 1: Regulatory Violations - Korysi was found to have inconsistencies in the aging calculation of receivables, failure to properly disclose related party transactions, and irregularities in the management and use of raised funds [1]. - The company did not disclose the leasing of a factory from a related party during the review of daily related party transactions from May 2018 to December 2024, and failed to disclose this in its 2023 annual report [1]. - Korysi also had discrepancies in reported sales figures with Deyang Hongyi Electronics Co., Ltd. regarding related party transactions [1]. Group 2: Fundraising and Project Management - The company's fundraising projects, including the "High-end Fully Automatic Precision Magnetic Component Winding Equipment Technology Upgrade and Expansion Project" and the "Innovation R&D Center Project," were improperly accounted for, leading to discrepancies in reported progress [2]. - Korysi raised approximately 600 million yuan through its IPO in March 2023, with funds allocated to the aforementioned projects and working capital [2]. - As of June 2025, the investment progress for the three major IPO fundraising projects was reported at 55.17%, 44.17%, and 99.99%, with an overall investment progress of 61.99% [2]. Group 3: Financial Performance - Korysi's financial performance has been declining, with revenues of 307 million yuan, 218 million yuan, and 170 million yuan from 2022 to 2024, reflecting year-on-year decreases of 18.56%, 28.75%, and 22.39% respectively [3]. - The company's net profit attributable to shareholders also decreased significantly, from 103 million yuan in 2022 to 17.8 million yuan in 2024, with declines of 17.36%, 65.9%, and 49.11% year-on-year [3]. - In the first three quarters of 2025, Korysi reported revenue of 128 million yuan, a year-on-year increase of 2.88%, but the net profit attributable to shareholders decreased by 22.19% [3].

Core Points - The company Koresys (301314.SZ) received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau due to several violations [1][4] Group 1: Violations Identified - Koresys had issues with the calculation of accounts receivable aging, failing to continuously calculate and assess expected credit losses after converting accounts receivable to commercial acceptance bills [2] - The company did not properly disclose related party transactions, including failing to disclose a lease agreement with a related party and inconsistencies in reported sales figures [2][5] - There were irregularities in the management and use of raised funds, with costs for two fundraising projects improperly allocated, leading to discrepancies in reported project progress [3] - The management of insider information was found to be non-compliant, with incomplete records of insider registries and lack of timely documentation for stock incentive plans [4] Group 2: Regulatory Actions - The company was ordered to rectify its violations, and key executives, including the chairman and financial director, received warning letters for their responsibilities in these issues [4][5] - The Shenzhen Stock Exchange issued a regulatory letter to Koresys and the responsible individuals, highlighting the breaches of the listing rules [4][5] Group 3: Company Background - Koresys went public on March 28, 2023, issuing 10,625,000 shares at a price of 63.78 yuan per share, raising a total of approximately 67.77 million yuan [6] - The company experienced a significant drop in stock price after its initial public offering, currently trading below its issue price [6] - In 2022, Koresys announced a dividend distribution plan, distributing 14 yuan per 10 shares and increasing its total share capital from 42.5 million to 55.25 million shares [7]

Core Viewpoint - The company, Keres, has received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau, indicating violations in accounts receivable aging calculation, related party transaction disclosure, fundraising management, and insider information management [1] Group 1 - The Guangdong Securities Regulatory Bureau has mandated corrective measures for the company due to identified violations [1] - Regulatory measures include issuing warning letters to responsible individuals within the company [1]

Legal Issues - Danghong Technology is involved in a lawsuit with Guangxi Broadcasting Network Technology Development Co., Ltd., with a counterclaim amounting to RMB 35.9495 million, excluding legal fees and other costs [3] - Zhangjiajie faces a court ruling in a contract dispute with Zhuzhou CRRC Engineering, with the amount in question being RMB 20.144 million plus related penalties [12] Regulatory Actions - Keres received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau for violations related to accounts receivable aging calculations and related party transactions [4] Business Developments - Dongfang Yuhong acquired mining rights for limestone in a bid worth RMB 267 million, valid from November 24, 2025, to November 24, 2045 [5] - Saikexide has received approval for three medical device products, enhancing its product range in the in vitro diagnostics sector [6] - Huayou Cobalt signed a supply agreement with Yiwei Lithium Energy for high-nickel ternary cathode materials, with an estimated supply of 127,800 tons from 2026 to 2035 [7] Stock Performance and Corporate Actions - Mengtian Home experienced a five-day stock price increase, with a total rise of 61.08%, significantly outpacing the Shanghai Composite Index [9] - Jiumuwang's stock showed abnormal fluctuations, with a revenue decline of 6.02% year-on-year for the first three quarters [10] - Huafeng shares are suspended due to a potential change in control, with a stock suspension expected to last no more than three trading days [11] - Baiyun Electric conducted its first share buyback, acquiring 86,500 shares for a total of RMB 1.0034 million [13] - Mercury Home Textiles plans to repurchase and cancel 137,200 restricted shares due to employee departures and performance issues [14] - Petty Co. announced a share buyback plan of RMB 50 million to 70 million, with a maximum price of RMB 26 per share [15] - Century Huatong obtained a loan commitment of up to RMB 900 million from China Merchants Bank for stock repurchase purposes [17] Shareholding Changes - Tongding Interconnection's major shareholder plans to reduce its stake by up to 0.49% [18] - Wanrun Co.'s controlling shareholder plans to increase its stake by no less than RMB 365 million and no more than RMB 730 million [19]

Core Viewpoint - The Shenzhen Stock Exchange issued a regulatory letter to Zhuhai Keres Technology Co., Ltd. highlighting multiple violations including improper accounts receivable aging calculations, failure to disclose related party transactions, irregularities in fundraising management, and inadequate insider information management [1][2][3] Group 1: Accounts Receivable Management - The company failed to continuously calculate the aging of accounts receivable after initial recognition and did not assess expected credit losses, leading to discontinuities in aging calculations [1] Group 2: Related Party Transaction Disclosure - There were three violations regarding related party transactions: - The company did not disclose the expected daily related party transactions for leasing a factory from a related party from May 2018 to December 2024, with the 2023 annual report lacking this disclosure until the 2024 report [2] - The 2023 annual report only disclosed transactions with Zhuhai Bojie Electronics Co., Ltd., omitting transactions with its subsidiaries and other related companies [2] - There was a discrepancy between the actual sales amount to Deyang Hongyi Electronics Co., Ltd. and the disclosed related party transaction amount [2] Group 3: Fundraising Management and Use - The company improperly managed fundraising for two projects, failing to allocate land purchase and construction costs according to building area, resulting in discrepancies in the reported progress of fundraising investment projects in multiple financial reports [2] Group 4: Insider Information Management - The company exhibited three major issues in insider information management: - The memorandum for significant matters only recorded the names of participating departments and external organizations, lacking details on personnel involved [3] - The insider information registries for the 2023 and 2024 annual reports were incomplete, missing key personnel [3] - There was a failure to timely document and manage insider information during the planning of equity incentive matters [3] Group 5: Regulatory Response - The Shenzhen Stock Exchange emphasized the need for the company and responsible individuals to take these issues seriously, learn from the mistakes, and implement timely rectifications to prevent recurrence of similar problems [3]

分组1 - Weili Medical plans to distribute a cash dividend of 2 yuan per 10 shares to all shareholders, based on an undistributed profit of 704 million yuan as of September 30, 2025 [1] - Tongding Interconnect's shareholder plans to reduce their stake by up to 0.49%, equating to a maximum of 605,800 shares [1] - Caitong Securities has received approval from the China Securities Regulatory Commission to issue short-term corporate bonds with a total face value of up to 5 billion yuan [1] 分组2 - Youfu Food intends to use 70 million yuan of its own funds to invest in wealth management products with expected annual returns of up to 4.2% [3] - Keres received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau for violations related to accounts receivable aging calculations and related party transactions [5] - Ouma Software's controlling shareholder has completed the transfer of state-owned equity, changing the controlling shareholder to Shandong Guotou [7] 分组3 - ST Huapeng's wholly-owned subsidiary has completed a major overhaul project and is now in production [8] - Beiqi Blue Valley has received approval from the China Securities Regulatory Commission for a stock issuance to specific investors [8] - Weijie Chuangxin received a government subsidy of 5 million yuan, accounting for 21.07% of its projected net profit for 2024 [9] 分组4 - China Resources Double Crane's subsidiary has received a drug registration certificate for a hypertension treatment drug [11] - Huafeng shares are continuing to suspend trading due to a planned change in control [13] - Kaifa Electric's shareholder plans to transfer 36.6869 million shares, representing 11.63% of the total share capital [14] 分组5 - Heng Rui Medicine has received approval for two clinical trials for innovative anti-tumor drugs [15] - Kosen Technology plans to invest 30 million USD to establish a new production base in Malaysia [17] - Sanxing Medical's subsidiary is expected to win a procurement project from the State Grid worth approximately 107 million yuan [18] 分组6 - Sitai Li's subsidiary has received a drug registration certificate for a contrast agent used in MRI [21] - Daren Tang's subsidiary has received a drug registration certificate for a pain relief gel [22] - Saike Xide has received approval for three medical device products, expanding its product range in the in vitro diagnostic field [23] 分组7 - Hasa Lian has elected a new chairman and vice chairman for its board of directors [24] - Two-sided Needle's subsidiary plans to invest 68.8522 million yuan in a production base expansion project [25] - Sunshine Nuohe plans to transfer 70% of its controlling subsidiary's equity for 2 million yuan [26] 分组8 - Hengbang shares received an administrative regulatory decision from the Shandong Securities Regulatory Bureau for failing to complete the election of independent directors [27] - Huali shares plan to sign a related transaction contract worth approximately 59.2847 million yuan [28] - Shangwei shares plan to invest 520.4 million yuan to gain a controlling stake in Sichuan Zhongfu Taihua [30] 分组9 - Zejing Pharmaceutical's ZG006 has been included in the list of breakthrough therapeutic varieties for treating advanced neuroendocrine cancer [32] - Yaopi Glass's shareholder plans to reduce their stake by up to 2.26%, equating to a maximum of 21.1469 million shares [34] - Huate Gas has initiated a major lawsuit involving a claim of 180 million yuan [36] 分组10 - Zhongchumei's controlling shareholder plans to increase their stake by between 42 million and 80 million yuan [37] - Huitong shares' shareholder plans to reduce their stake by up to 1% [38] - Miaowei Exhibition plans to apply for an initial public offering of H shares on the Hong Kong Stock Exchange [40] 分组11 - Tianqi Lithium's subsidiary has appealed to the Chilean Supreme Court regarding a partnership agreement with SQM and Codelco [42] - Naxin Micro plans to repurchase shares worth between 200 million and 400 million yuan [44] - Pingao shares have reported significant uncertainty regarding future business development and profitability [46] 分组12 - Shunyu shares have been pre-selected for a project worth 1.023 billion yuan [48] - Zhongyuan Neipei plans to acquire a 2.5% share in an aerospace industry fund for 50 million yuan [50] - Huifa Food's shareholder plans to reduce their stake by up to 3%, equating to a maximum of 727.14 million shares [53] 分组13 - Junshi Biosciences' subcutaneous PD-1 new formulation has reached its primary endpoint in a Phase III clinical trial [54] - Industrial Fulian clarified that it has not lowered its fourth-quarter profit target amid market rumors [55] - Longpan Technology's subsidiary has signed a major supply agreement for lithium iron phosphate materials, significantly increasing the supply volume [56]

Group 1 - Donghong Technology is involved in a lawsuit with a claim amounting to RMB 35.95 million, with some bank accounts frozen totaling RMB 30 million, and actual frozen funds of RMB 20.84 million [1] - Keres received an administrative regulatory decision from the Guangdong Securities Regulatory Commission for violations related to accounts receivable aging calculation, related party transaction disclosure, fundraising management, and insider information management [2] - Oriental Yuhong successfully bid RMB 267 million for mining rights, valid from November 24, 2025, to November 24, 2045 [3] Group 2 - Saikexide has received approval for three medical device products, enhancing its product range and competitiveness in the in vitro diagnostics field [4] - Huayou Cobalt signed a supply agreement with Yiwei Lithium Energy for high-nickel ternary cathode materials, expected to supply approximately 127,800 tons from 2026 to 2035 [5] - Meng Tian Home's stock price has hit the limit for five consecutive trading days, with a total increase of 61.08%, significantly deviating from the Shanghai Composite Index's decline of 1.77% during the same period [6] Group 3 - Jiumuwang's stock experienced abnormal fluctuations, with a revenue decline of 6.02% year-on-year for the first three quarters of 2025, totaling RMB 633.13 million [7] - Huafeng Co. announced a continued suspension of trading due to a planned change in control, with the suspension expected to last no more than three trading days [8] - Zhangjiajie is involved in a court case with Zhuzhou CRRC Engineering, with a judgment amount of RMB 20.14 million, including penalties and related fees [9] Group 4 - Baiyun Electric conducted its first share buyback, acquiring 86,500 shares for a total of RMB 1.0034 million [11] - Mercury Home Textiles plans to repurchase and cancel 137,200 restricted shares due to the departure of two incentive targets and underperformance of five others [12] - Petty Co. approved a share buyback plan of RMB 50 million to 70 million, with a maximum price of RMB 26 per share, aimed at employee stock ownership plans [13] Group 5 - Century Huatong obtained a commitment letter from China Merchants Bank for a stock buyback loan of up to RMB 900 million, valid for 12 months [14] - Tongding Interconnection announced a major shareholder's plan to reduce holdings of up to 605,800 shares due to personal funding needs [15] - Wanrun Co.'s controlling shareholder plans to increase its stake in the company by investing between RMB 365 million and 730 million over the next six months [16]

Core Viewpoint - The company, Korys (301314.SZ), has received an administrative regulatory decision from the Guangdong Regulatory Bureau of the China Securities Regulatory Commission, indicating several violations related to financial reporting and management practices [1][2][3][4] Group 1: Accounts Receivable Management - The company failed to continuously calculate the aging of accounts receivable after switching to commercial acceptance bills for settlement, which does not comply with regulatory guidelines [1] Group 2: Related Party Transactions - The company did not properly disclose related party transactions, including a lease agreement with a related party that was not disclosed in the annual reports until 2024, violating disclosure regulations [2] - Incomplete disclosure of related party transactions with subsidiaries of Zhuhai Bojie Electronics Co., Ltd. was noted, along with inconsistencies in reported sales figures [2] Group 3: Fundraising Management - The company mismanaged the use of raised funds by not appropriately allocating costs between two fundraising projects, leading to discrepancies in reported project progress in multiple financial reports [3] Group 4: Insider Information Management - The company inadequately managed insider information, failing to record specific details about personnel involved in significant matters and not maintaining complete insider information registries in annual reports [4]