SHCD(SH:603887) Xin Lang Cai Jing·2025-09-11 11:08Core Points - Chengdi Xiangjiang (603887) received an administrative regulatory measure decision from the Shanghai Securities Regulatory Bureau due to multiple accounting errors leading to inaccurate financial data disclosure [1] - The company and relevant responsible persons, including the chairman and president, were issued a warning letter as a result of these findings [2] Summary by Categories Accounting Issues - Internal transaction offset errors were identified, including incorrect preparation of offset entries and incomplete internal transaction offsets, resulting in inaccurate financial data for the 2023 annual report and multiple quarterly reports for 2024 [1] - Improper accounting treatment of leasehold improvements and amortization during the use of rights assets led to inaccuracies in financial data for multiple reporting periods from 2023 to 2024 [1] - Revenue recognition issues were noted in several projects, including the second phase of the data center project for China Mobile in Zhengzhou, where revenue was not timely recognized despite completion and meeting recognition criteria [1] Regulatory Response - The Shanghai Securities Regulatory Bureau decided to issue warning letters to Chengdi Xiangjiang and the then-serving chairman and president, as well as the financial directors involved [2] - The company expressed that it takes the regulatory measures seriously and will enhance legal and regulatory compliance, improve operational standards, and strengthen internal control systems [2] - The company stated that the administrative regulatory measures would not have a significant impact on its operations and reminded investors to invest rationally and be aware of risks [2]