Core Viewpoint - Kaewang Technology (301182.SZ) has received regulatory measures from the China Securities Regulatory Commission (CSRC) and the Shenzhen Stock Exchange due to accounting errors in financial disclosures, which the company is committed to rectifying [1][2][3]. Regulatory Actions - The CSRC's Henan Regulatory Bureau issued an administrative regulatory measure decision (2025) 18, highlighting the company's accounting errors and the responsibilities of its executives [3]. - The Shenzhen Stock Exchange issued a regulatory letter (2025) 109, indicating that the company violated listing rules by inaccurately disclosing financial data in its reports for the first three quarters of 2024 [2]. Financial Reporting Issues - Kaewang Technology corrected its revenue recognition method from gross to net for its "purchase of raw materials + finished product assembly" business, leading to restatements of its financial reports for the first quarter, half-year, and third quarter of 2024 [2][3][4]. - The company acknowledged that its financial data for these periods was inaccurate, violating the Information Disclosure Management Measures [3]. Financial Performance - For the year 2024, Kaewang Technology reported a revenue of 596.09 million yuan, a year-on-year increase of 9.12%, but a net loss attributable to shareholders of 93.45 million yuan, worsening from a loss of 56.82 million yuan in the previous year [5][6]. - The company’s cash flow from operating activities was negative 65.10 million yuan, compared to a negative 13.00 million yuan in the previous year, indicating a significant decline in cash flow [6]. Corporate Governance - The company has committed to enhancing its internal control mechanisms and improving governance standards in response to the regulatory findings [1][2].