Zhong Guo Ji Jin Bao·2025-11-05 16:24Core Viewpoint - Haosai has been fined 7 million yuan for corporate bribery, and its former chairman has received a three-year prison sentence along with a fine of 3 million yuan, marking the conclusion of a judicial investigation that began in late 2024 [2][4]. Legal and Financial Implications - The fine of 7 million yuan represents 3.90% of Haosai's most recent audited net profit attributable to shareholders, while the total amount of fines and confiscated illegal gains is 28.5161 million yuan, accounting for 15.90% of the same net profit [4]. - Haosai has stated that it will process the financial implications of the judgment according to relevant accounting standards, with the specific impact on current or future profits to be determined by audit opinions [4]. Compliance and Governance - Haosai has emphasized that the judgment does not trigger any major illegal delisting scenarios as per the Shenzhen Stock Exchange's regulations [5]. - The company has expressed sincere apologies to investors regarding the lawsuit and has committed to strengthening internal controls, improving operational standards, and enhancing the quality of information disclosure [5]. Background of the Case - The case against Haosai and its former chairman, Dai Baolin, began with an investigation by the Wuhan New District Supervisory Committee in December 2024, leading to his detention and subsequent arrest in June 2025 [7]. - Haosai faced regulatory penalties for failing to disclose significant events in a timely manner, which included receiving a warning from the Beijing Securities Regulatory Bureau and a regulatory letter from the Shenzhen Stock Exchange [8][6]. Changes in Management - In June 2025, Dai Baolin resigned from his positions as chairman and general manager due to reaching retirement age, shortly before his arrest [10]. - Following his resignation, control of the company shifted to Dai Congqi, who signed a voting rights delegation agreement with Dai Baolin, leading to a change in the actual controller of the company [11]. Company Performance - Haosai, once a leading company in the lighting engineering industry, has seen a decline in performance since 2020, with a reported revenue of 265 million yuan in the first three quarters of 2025, a year-on-year decrease of 29.79%, and a net loss attributable to shareholders of 26.3138 million yuan [12].