JINSHENG(SZ:300849) Zhong Guo Jing Ji Wang·2025-11-19 02:41Core Viewpoint - Jinsheng New Materials (300849.SZ) has received an administrative penalty decision from the China Securities Regulatory Commission (CSRC) for failing to disclose related party transactions in its 2022 annual report, which constitutes a violation of the Securities Law [1][3]. Group 1: Related Party Transactions - Jinsheng New Materials signed a construction contract with Zhejiang Hongxiang Construction Engineering Co., Ltd. for a project to produce 60 million sets of cosmetic packaging containers, which was then subcontracted to Ruan Zhongyan, the actual controller's nephew, constituting a related party transaction [1][2]. - The related party transaction amounted to 120 million yuan in 2022, accounting for 18.6% of the company's audited net assets for that year [2]. Group 2: Violations and Penalties - The company and its executives, including the chairman and general manager, failed to ensure the accuracy and completeness of the 2022 annual report, violating multiple provisions of the Securities Law [3][4]. - Jinsheng New Materials was fined 1.5 million yuan, while the chairman and other executives received individual fines ranging from 50,000 to 1 million yuan [4]. Group 3: Financial Performance - Jinsheng New Materials reported revenues of 243 million yuan, 260 million yuan, and 333 million yuan for the years 2022 to 2024, with net losses of approximately 22.5 million yuan, 23.9 million yuan, and 22.6 million yuan respectively [6]. - For the first three quarters of 2025, the company achieved revenues of 238 million yuan, a year-on-year decline of 8.41%, with a net loss of approximately 9.5 million yuan, a significant year-on-year decrease of 1183.73% [6].