被立案后跌停，白银有色内控失守，半年超400亿营收仍亏超2亿

Core Viewpoint - The company Baiyin Nonferrous (601212.SH) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, leading to significant market reactions and a sharp decline in stock price [1][2]. Group 1: Regulatory Investigation - The CSRC has decided to initiate a case against Baiyin Nonferrous due to suspected information disclosure violations, although specific details of the case have not been disclosed [1]. - Following the announcement, Baiyin Nonferrous experienced a one-day stock price drop, closing at 3.82 CNY per share, resulting in a market value loss of approximately 3 billion CNY [1]. Group 2: Internal Control Issues - Baiyin Nonferrous has faced multiple internal control failures, including significant financial misconduct cases that were not disclosed in a timely manner [3]. - Notable incidents include a copper theft case involving 157 million CNY and a zinc ingot theft case where 990 tons were stolen, both of which were not reported in the 2023 annual report [3]. Group 3: Financial Discrepancies - The company reported a financial "black hole" amounting to 388 million CNY due to discrepancies in transactions with three clients, attributed to bribery and improper documentation practices [4]. - Baiyin Nonferrous has initiated legal actions against the involved parties and made provisions for bad debts totaling approximately 31 million CNY and 10 million CNY for two of the clients [4]. Group 4: Financial Performance - In the first half of the year, Baiyin Nonferrous reported a revenue of 44.56 billion CNY but incurred a net loss of 217 million CNY, marking a year-on-year decline of 1859.82% [5][7]. - The company has adjusted its financial statements for previous years, resulting in significant reductions in net profit for 2019, 2020, and 2021 by 41.04%, 65.29%, and 58.28% respectively [7]. Group 5: Production Status - Despite the financial challenges, Baiyin Nonferrous's production remains stable, with an increase in the output of copper, zinc, lead, and other metal products in the smelting system [8].