HES(SZ:002963) Mei Ri Jing Ji Xin Wen·2025-11-16 10:06Core Viewpoint - The company Haosai Technology Group Co., Ltd. is facing legal challenges due to a criminal appeal filed by the Wuhan New District People's Procuratorate regarding a bribery case involving the company and its former chairman Dai Baolin [2][5]. Legal Proceedings - The company was convicted of corporate bribery and fined 7 million RMB, while Dai Baolin received a three-year prison sentence with a four-year probation and a fine of 3 million RMB [2][6]. - The appeal by the procuratorate indicates that the initial sentence was deemed too lenient, leading to uncertainty regarding the final judgment [2][5]. Financial Impact - The fines and the amount to be returned due to illegal gains total approximately 28.52 million RMB, which represents 15.90% of the company's most recent audited net profit attributable to shareholders [7]. - The company reported a net profit attributable to shareholders of -26.31 million RMB for the first three quarters of 2025, a year-on-year decline of 523.96% [13]. Company Background - Haosai was founded in 2000 and focuses on smart technology solutions. It went public on the Shenzhen Stock Exchange in 2019 [9]. - The company's stock has experienced significant volatility, with a recent market value of 2.9 billion RMB and a stock price increase of over 44% in the last month and over 67% year-to-date [9]. Management Changes - Following legal issues, Dai Baolin resigned from his positions as chairman and general manager, with his son Dai Congqi taking over as the new chairman [8].