Zheng Quan Shi Bao·2025-08-15 14:21Group 1 - The core issue involves a fraud investigation against the company by the Hangzhou Public Security Bureau regarding the alleged fraudulent issuance of securities [1] - The company has previously been under investigation by the China Securities Regulatory Commission (CSRC) for information disclosure violations, leading to administrative penalties [3] - The company was found to have fabricated significant false information in its public bond issuance documents, resulting in inflated revenue and profits for the years 2019 and 2020 [3][4] Group 2 - The company was penalized with a fine of 85.7 million yuan and its former chairman and general manager received individual fines and a 10-year market ban [5] - The company has faced significant revenue declines and continuous losses due to intense industry competition and business adjustments [5] - The company completed the divestiture of its 100% stake in its subsidiary, Medical Technology Co., Ltd., in August 2025 [5]