STS(SH:603322) Nan Fang Du Shi Bao·2025-07-23 08:45Core Viewpoint - The Shanghai Stock Exchange has issued a disciplinary notice to ChaoXun Communication for significant discrepancies between its earnings forecast and actual performance, leading to a public reprimand [1][6]. Group 1: Earnings Forecast and Actual Performance - ChaoXun Communication initially forecasted a net loss of no more than 3 million yuan for the fiscal year 2024, but the actual loss was reported at 61.76 million yuan, a difference exceeding 20 times [1][5]. - The company revised its earnings forecast multiple times, with the final report indicating a net loss of 61.76 million yuan, which was a 428.73% decrease compared to the previous year [4][5]. Group 2: Financial Performance and Business Strategy - For the fiscal year 2024, ChaoXun Communication reported total revenue of approximately 1.673 billion yuan, a year-on-year decrease of 31.57%, attributed to intensified market competition [4]. - The company shifted its business focus towards computing power, reducing investments in ICT and communication services [4]. Group 3: Stock Price Volatility - Following the initial earnings forecast announcement on January 26, 2025, ChaoXun Communication's stock price surged over 50%, reaching a peak of 54.88 yuan per share by February 28, 2025 [8]. - However, after the correction of the earnings forecast and the actual performance disclosure in April, the stock price plummeted to a low of 29.08 yuan per share by April 30, 2025 [8].