绝味食品，被罚400万！股票将停牌“戴帽”

Core Viewpoint - Juewei Foods has received a notice of administrative penalty from the Hunan Securities Regulatory Bureau for violations related to information disclosure, leading to a proposed fine of 4 million yuan and other penalties for responsible individuals [1][4]. Summary by Sections Regulatory Actions - Juewei Foods was issued an administrative penalty notice on September 19, 2025, for failing to recognize revenue from franchise store renovation services from 2017 to 2021, resulting in understated annual revenue by 5.48%, 3.79%, 2.20%, 2.39%, and 1.64% for the respective years [2]. - The company will face a warning and a fine of 4 million yuan, while key individuals, including the former chairman and general manager, will also face fines totaling 450,000 yuan [4]. Company Operations - Juewei Foods announced that its business operations remain normal despite the regulatory scrutiny and penalties. The company plans to adjust its financial statements and enhance internal controls [1][4]. - As of September 19, 2025, Juewei Foods' stock will be subject to special risk warnings, with a trading suspension on September 22 and a name change to "ST Juewei" upon resumption [1]. Financial Performance - In the first half of 2025, Juewei Foods reported revenue of 2.82 billion yuan, a decrease of 15.57% year-on-year, and a net profit of 175 million yuan, down 40.71% [4]. - The second quarter of 2025 saw a more significant decline, with revenue of 1.32 billion yuan, a 19.80% drop, and a net profit of 55 million yuan, down 57.65% [4]. Store Count and Market Position - Juewei Foods has been experiencing a decline in the number of franchise stores, with approximately 4,000 stores closed since June 2024, leaving a total of 10,725 stores as of September 16, 2025 [5]. - The company's stock closed at 15.25 yuan per share on September 19, 2025, reflecting a year-to-date decline of 5.23% and a total market capitalization of 9.24 billion yuan [6].