Juewei Food (SH:603517) Mei Ri Jing Ji Xin Wen·2025-09-30 14:41Core Viewpoint - ST Juewei (603517.SH) has been fined 4 million yuan by the Hunan Securities Regulatory Bureau for underreporting revenue from franchise store renovation services from 2017 to 2021, leading to penalties for key executives [1][2][3] Group 1: Regulatory Actions - The company received an administrative penalty notice from the Hunan Securities Regulatory Bureau, which included a fine of 4 million yuan for underreporting revenue [1][3] - Key executives, including former Chairman Dai Wenjun, former CFO Peng Caigang, and former Secretary of the Board Peng Gangyi, were fined 2 million yuan, 1.5 million yuan, and 1 million yuan respectively [1][3] - The company plans to adjust its financial statements and strengthen internal control processes in response to the penalties [3] Group 2: Financial Reporting Issues - From 2017 to 2021, ST Juewei failed to recognize revenue from franchise store renovation, resulting in underreported revenue percentages of 5.48%, 3.79%, 2.20%, 2.39%, and 1.64% for each respective year [2] - Evidence supporting the violations includes contracts, bank statements, and inquiry records [2] Group 3: Company Strategy and Operations - ST Juewei is adjusting its store model, sales channels, and supply chain management in response to changing external conditions [4] - The company is shifting its strategic focus from "deepening the duck neck main business" to "focusing on the braised food sector and deepening niche demands" [4]