Core Viewpoint - Qingyue Technology has faced regulatory scrutiny from Jiangsu Securities Regulatory Bureau due to three main issues: improper use of raised funds, non-compliance in financial accounting for new business, and undisclosed related party transactions [1] Group 1: Regulatory Issues - Qingyue Technology misused raised funds by transferring them to a general settlement account to purchase bank wealth management products in 2023 [1] - The company incorrectly recognized revenue for its CTP + OLED product trading business, reporting on a gross basis instead of a net basis, leading to a revenue and cost adjustment of 13.67 million yuan in the Q3 2023 report [1] - A related party transaction with Zaozhuang Hongyuan Construction Engineering Company, controlled by the chairman's relative, was not disclosed in the 2023 semi-annual report, involving a payment of 3.63 million yuan [1] Group 2: Management Accountability - The chairman and general manager, Gao Yudi, along with the board secretary and CFO, Zhang Xiaobo, are primarily responsible for the violations of information disclosure regulations [1] Group 3: Financial Performance - In the 2024 annual report, Qingyue Technology reported an operating income of 753 million yuan, a year-on-year increase of 13.96%, while the net profit attributable to shareholders was -69.49 million yuan, reflecting a 41.07% increase in losses [5] - The company's basic earnings per share were reported at -0.15 yuan [5] Group 4: Company Background - Qingyue Technology, established on December 30, 2010, is located in Kunshan, Jiangsu Province, and specializes in the R&D, production, and sales of small and medium-sized display panels [5]
清越科技及董事长高裕弟等收警示函,涉募资使用违规、关联交易未披露等