金花股份因财务信披不准确等被责令整改

Regulatory Issues and Penalties - The company has been penalized by the Shaanxi Securities Regulatory Bureau for inaccurate financial information disclosure in its 2023 interim and third-quarter reports, and for not timely disclosing related-party fund occupation [1][2] - The company was also penalized for improperly using idle raised funds for temporary working capital, which was indirectly used for stock trading, leading to insufficient funds in the raised funds account [3] - The company has been repeatedly penalized for information disclosure violations, including inaccurate performance forecasts and concealing the chairman's involvement in criminal activities [4][5][6][7] Financial Performance - The company's non-GAAP net profit has been declining for two consecutive years, with a further decline in the first three quarters of this year [1][8] - The company's revenue has been fluctuating, with a slight increase in the first three quarters of this year, but the non-GAAP net profit decreased by 13.23% [8] - The company's sales expense ratio has been consistently high, above 50%, and has been increasing over the past three years, ranking among the top in the industry [1][9] Industry Comparison - In the A-share market, among 72 traditional Chinese medicine companies, the company's sales expense ratio ranked second in 2021, fourth in 2022, and third in 2023, indicating a high level of sales expenses compared to peers [1][9] Management and Governance - The company's chairman, Xing Yajiang, and other responsible persons have been issued warning letters and subjected to regulatory measures due to their involvement in the aforementioned violations [1][3][5][6][7] - The chairman was involved in criminal activities and was under criminal coercive measures, which the company failed to disclose in a timely manner [6][7]