Fuhuang(SZ:002743) Shang Hai Zheng Quan Bao·2025-11-09 18:20Core Viewpoint - Anhui Fuhuang Steel Structure Co., Ltd. is facing administrative penalties from the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws related to its acquisition of Hefei Zhongke Junda Vision Technology Co., Ltd. [1][2] Summary by Sections Administrative Penalty Notification - The company received a notice from the CSRC regarding an investigation into information disclosure violations, leading to a formal administrative penalty process [1][2]. Acquisition Details - On December 6, 2024, the company announced plans to acquire 100% of Zhongke Junda's shares through a combination of stock issuance and cash payment [2]. - The acquisition was later terminated on June 20, 2025, after initial disclosures [2]. Violations of Information Disclosure - The draft report disclosed by the company contained false financial data and omitted significant related party transactions [3][4]. - Zhongke Junda inflated its 2024 revenue by approximately 25.19 million yuan, which constituted 11.36% of its total revenue for that year [5]. - The draft report failed to disclose related party transactions amounting to approximately 12.3 million yuan in 2023 and 7.05 million yuan in 2024 [7]. Penalties Proposed - The CSRC proposed fines totaling 6 million yuan for Fuhuang Steel and 7 million yuan for Zhongke Junda, along with individual penalties for key executives involved [10].