Zheng Quan Shi Bao·2025-10-16 15:19Core Viewpoint - The China Securities Regulatory Commission (CSRC) has initiated an investigation into Hainan Huatie for suspected violations of information disclosure, following the termination of a significant contract with Hangzhou X Company, which has led to a notable decline in the company's stock price [1][3]. Group 1: Investigation and Regulatory Actions - On October 16, Hainan Huatie announced that it received a notice from the CSRC regarding an investigation due to suspected information disclosure violations [1]. - The company is currently conducting its operations normally and is cooperating with the CSRC's investigation while fulfilling its disclosure obligations [1]. Group 2: Contract Termination - Hainan Huatie's wholly-owned subsidiary, Hainan Huatie Dahuangfeng, terminated a "Computing Power Service Agreement" with Hangzhou X Company, which was originally signed in March 2025 for a total amount of 3.69 billion yuan (including tax) over a five-year period [1][2]. - The termination was attributed to significant changes in the market environment and supply-demand conditions since the contract was signed, with no procurement orders received since then [2]. Group 3: Stock Performance - Following the announcement of the contract termination, Hainan Huatie's stock price fell by over 20% within six trading days [3]. Group 4: Shareholder Actions - On October 15, Hainan Huatie disclosed that a major shareholder, Hu Danfeng, completed a share buyback plan, purchasing 6.448 million shares, which is 0.32% of the total share capital, for a total amount of approximately 49.9972 million yuan [4]. - The buyback was part of a strategy to enhance investor confidence in the company's long-term value [4].