TWH(SZ:002512) Guo Ji Jin Rong Bao·2025-07-30 10:24Core Viewpoint - Dahua Intelligent Technology Co., Ltd. is under formal investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, leading to significant stock price declines and financial losses [1][3]. Group 1: Company Overview - Dahua Intelligent focuses on the "one network, one screen" industry, covering information services, satellite communications, and new display manufacturing [3]. - The company is a leading player in the global TV mainboard sector, with an expected shipment of nearly 15 million display mainboards in 2024, serving over 200 global brands [3]. Group 2: Financial Performance - The company anticipates a net loss of between 40 million to 60 million yuan for the first half of 2025, contrasting sharply with a profit of 57.37 million yuan in the same period last year [3]. - Financial irregularities have been identified, including a profit inflation of 61.12 million yuan in 2023 due to premature recognition of disposal gains from subsidiaries [5]. Group 3: Regulatory Issues - The CSRC's investigation stems from four categories of violations related to information disclosure, first revealed by the Fujian Securities Regulatory Bureau [3]. - A significant contract worth 795 million yuan between a subsidiary and Kunshan Chimei was not disclosed, constituting a major event that should have been reported [4]. - The company failed to disclose a substantial fund transfer of 140 million yuan, which was used to repay the former chairman, indicating a major related-party transaction [4].