HUATIE(SH:603300) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-17 13:39Core Viewpoint - Hainan Huatie is currently under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, following the termination of a significant contract worth 3.69 billion yuan for computing power services, which has led to a sharp decline in its stock price [3][4]. Group 1: Shareholder Actions - Major shareholders, including the company's general manager and a significant shareholder, plan to increase their holdings in Hainan Huatie, with a total intended investment of up to 1 billion yuan [1]. - The general manager, Hu Danfeng, intends to invest between 30 million yuan and 50 million yuan over the next six months [1]. - Hainan Jinkong, a controlling shareholder, also plans to invest between 25 million yuan and 50 million yuan in the same timeframe [1]. Group 2: Contractual Issues - Hainan Huatie's subsidiary signed a 5-year computing power service agreement worth 36.9 billion yuan, which was seen as a significant move into the computing power market [3]. - The contract was abruptly terminated due to changes in market conditions and a lack of received orders, leading to a significant drop in the company's stock price [3][4]. - The company claims that the terminated contract was not a framework agreement but an actual contract that was expected to generate revenue [4]. Group 3: Historical Context and Legal Issues - Hainan Huatie has faced previous allegations of financial misconduct, including a report of serious financial fraud by a competitor in 2021 [5][6]. - The company was involved in a legal dispute regarding the delivery and payment of 80,000 Bitcoin mining machines, which has further complicated its financial standing [5][6]. - Despite these challenges, the company reported revenue from its computing power business, with approximately 12 million yuan in the previous year and over 50 million yuan in the first quarter of the current year [4]. Group 4: Stock Performance - As of October 17, Hainan Huatie's stock price was 7.09 yuan per share, reflecting a nearly 7% decline, with a total market capitalization of 14.2 billion yuan [1]. - Notably, a prominent investor, Zhang Jianping, reduced his stake in the company significantly after initially becoming one of the top shareholders [7].