TongDa Cable(SZ:002560) Sou Hu Cai Jing·2025-09-25 09:53Core Viewpoint - The company, Tongda Co., Ltd., is facing regulatory scrutiny from the Henan Securities Regulatory Bureau due to several compliance issues, including improper use of raised funds and inaccurate accounting practices, which have led to inflated profit figures for 2024 [2][3]. Group 1: Regulatory Issues - On September 5, Tongda Co., Ltd. announced that it received an administrative regulatory decision from the Henan Securities Regulatory Bureau, highlighting several compliance failures [2]. - The identified issues include failure to follow proper procedures for fund allocation, lack of timely disclosure regarding accounting policy changes, and inaccurate accounting leading to inflated profit figures for 2024 [2][3]. - Key executives, including the chairman and general manager, have been held primarily responsible for these violations and have received warning letters from the regulatory authority [3]. Group 2: Financial Data - On September 24, the company reported a financing buy-in of 8.14 million yuan and a financing repayment of 6.71 million yuan, resulting in a net financing buy-in of 1.43 million yuan [2]. - As of May 27, the total approved guarantee amount for subsidiaries is 730 million yuan, with a current guarantee balance of 337 million yuan, representing 13.3% of the company's audited net assets for 2024 [5]. Group 3: Corporate Actions - The company has provided guarantees for its subsidiaries, including a maximum guarantee of 10 million yuan for financing activities with Industrial Bank [4][5]. - There are no overdue guarantees or litigation-related guarantees that could result in financial losses for the company [6]. Group 4: Business Operations - Tongda Co., Ltd. has participated in 3,250 bidding projects and holds 23 trademark registrations, indicating active engagement in its industry [7].