Marubi(SH:603983) Xin Lang Cai Jing·2025-10-30 14:57Core Viewpoint - The Shanghai Stock Exchange issued a regulatory warning to Guangdong Marubi Biotechnology Co., Ltd. due to irregularities in financial accounting and violations in the management, use, and disclosure of raised funds [1][2][3] Financial Accounting Irregularities - Marubi Biotechnology's financial accounting issues include inaccurate revenue recognition, discrepancies in construction project accounting, and incorrect reporting of accounting items [1] - The company failed to estimate return rates based on returns and included a small number of non-actual sales orders in revenue, leading to distorted revenue data [1] - In construction projects, the company did not estimate "construction in progress" and "payable construction costs" according to actual project progress, and failed to timely transfer projects to fixed assets, resulting in inaccurate depreciation calculations [1] - Funds from third-party payment platforms were incorrectly reported under "accounts receivable," and unrelated consulting service fees were included in research and development expenses, causing misstatements in relevant accounts [1] Fund Management and Disclosure Violations - The company did not independently account for raised funds and self-owned funds when constructing the headquarters building, leading to the use of raised funds for non-raised project expenditures [2] - Marubi has since rectified this by returning the relevant funds to the raised funds account [2] - Adjustments to some raised fund projects that exceeded the original completion deadlines were made without timely review and disclosure procedures [2] - The progress of raised fund projects reported in 2023 and 2024 did not match actual progress, and the company failed to disclose required information regarding cash management of raised funds [2] Regulatory Actions and Requirements - The Shanghai Stock Exchange decided to issue a regulatory warning to Marubi and its key executives, including the chairman, CFO, and board secretary, for failing to fulfill their responsibilities [3] - The company is required to submit a rectification report signed by all directors and supervisors within one month of receiving the decision, addressing compliance risks and improving information disclosure and operational standards [3] - The exchange emphasized the need for the company and its executives to strictly adhere to laws, regulations, and listing rules to ensure accurate and complete information disclosure [3]