Vanfund(SZ:000638) Shang Hai Zheng Quan Bao·2025-11-04 19:13Core Viewpoint - The company, WanFang Urban Investment Development Co., Ltd., is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to significant risks including potential delisting of its stock [1][2][6]. Group 1: Investigation and Regulatory Actions - On July 25, 2025, the company received a notice from the CSRC regarding the initiation of an investigation due to suspected violations of information disclosure laws [1][2]. - The investigation is ongoing, and the company has not yet received a conclusive opinion or decision from the CSRC [2][6]. - If the CSRC finds substantial violations, the company's stock may face mandatory delisting under Shenzhen Stock Exchange rules [2][6]. Group 2: Stock Trading and Market Reactions - The company's stock experienced an abnormal trading fluctuation, with a cumulative closing price increase of 16.73% over three consecutive trading days (October 31, November 3, and November 4, 2025) [7]. - The company has noted that recent market rumors regarding a potential change in control have led to excessive interpretations and reactions, contributing to the stock price volatility [8][14]. - The company reassures that it has not identified any undisclosed significant information that could impact stock trading prices [9][11]. Group 3: Financial Performance - As of September 30, 2025, the company reported total assets of 265.74 million yuan, net assets of 139.49 million yuan, and an operating income of 175.54 million yuan, with a net profit attributable to shareholders of -8.59 million yuan, representing a 164.64% decline compared to the same period last year [16].