600421，收购方被监管警示

Core Viewpoint - The Shanghai Stock Exchange issued a regulatory warning to *ST Huaron and its acquirer Hainan Bocheng due to failure to timely disclose detailed equity change reports and hire a financial advisor, impacting investors' rights and expectations [2][3]. Group 1: Regulatory Actions - On August 19, the Shanghai Stock Exchange warned Hainan Bocheng and Lin Mushun for not disclosing the detailed equity change report within the required timeframe after signing the equity transfer agreement [2]. - The exchange determined that Hainan Bocheng and Lin Mushun violated several regulations, including Article 17 of the "Listed Company Acquisition Management Measures" and relevant rules from the Shanghai Stock Exchange [3]. Group 2: Transaction Details - On August 11, *ST Huaron announced a share transfer agreement with Hainan Bocheng, involving a transfer of 25.01% of the company's shares for approximately 450 million yuan, changing the actual controller from Lou Yongliang to Lin Mushun [3]. - The funding for the acquisition includes 240 million yuan from self-owned funds and 210 million yuan from self-raised funds, with Hainan Bocheng having contributed 20 million yuan as of the announcement date [3]. Group 3: Financial and Performance Indicators - Following the announcement of the share transfer, *ST Huaron's stock price dropped by 5% to 8.17 yuan per share, hitting the daily limit down [3]. - The company has issued multiple warnings regarding stock trading anomalies, with a reported short-term increase of 33.96% in stock price over six trading days from August 12 to August 19 [5]. - The company anticipates a net loss of 4 million to 2.7 million yuan for the first half of 2025, with a net loss of 4.2 million to 2.8 million yuan after deducting non-recurring items [5].