Fuhuang(SZ:002743) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-28 13:34Core Viewpoint - Fuhuang Steel Structure (002743) has received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into alleged violations of information disclosure laws, which may lead to significant regulatory consequences for the company and impact its stock price [4][5][6]. Group 1: Regulatory Investigation - On September 26, 2025, Fuhuang Steel Structure announced that it received a "Notice of Investigation" from the CSRC due to suspected violations of information disclosure laws [4]. - The investigation process typically takes several months, during which the company's stock price may face downward pressure [4]. Group 2: Financial and Operational Issues - The company recently terminated a high-premium acquisition plan to acquire 100% of Hefei Zhongke Junda Vision Technology Co., Ltd. for 1.14 billion yuan, raising compliance concerns in the market [5]. - Fuhuang Steel Structure is involved in a 1.077 billion yuan dispute over unpaid project funds related to a project completed in June 2023, which was not disclosed until December 2024, potentially constituting a violation of information disclosure regulations [6]. - The company's financial performance has been declining, with revenue and net profit decreasing for three consecutive years from 2022 to 2024, and the 2025 interim report continues this downward trend [6]. - As of the 2025 interim report, accounts receivable reached 3.234 billion yuan, accounting for 168.43% of operating income, indicating deteriorating sales collection capabilities and potential bad debt risks [6]. Group 3: Investor Rights and Actions - Legal experts indicate that if the CSRC confirms violations, the company may face severe regulatory penalties, impacting approximately 31,500 investors who must decide whether to sell or hold their shares [7]. - A preliminary registration for investor claims has begun, allowing those who purchased shares before September 26, 2025, and sold or still hold them at a loss after September 27, 2025, to participate in compensation claims [7].