Kersen(SH:603626) Xin Lang Cai Jing·2025-11-21 15:13Core Viewpoint - Kosun Technology has been involved in undisclosed related party transactions exceeding 2.5 billion yuan over several years, leading to regulatory scrutiny and disciplinary actions from the Shanghai Stock Exchange and Jiangsu Securities Regulatory Bureau [1][2]. Group 1: Regulatory Findings - The violations by Kosun Technology include failure to disclose related party transactions with companies such as Weishida and Yingzhirong from 2018 to 2024, with errors in the reported transaction amounts [2][3]. - Kosun Technology made non-operating fund usages amounting to 57.1 million yuan in January 2022, with the funds being occupied for 1 to 4 days without disclosure [2][7]. - A former director, Li Jin, was involved in a bribery case and concealed this information during board elections, only resigning after receiving a criminal judgment [2][3]. Group 2: Transaction Details - Kosun Technology acknowledged related party transactions totaling 1.44 billion yuan with Weishida, 970 million yuan with Yingzhirong, and 153 million yuan with Kesheng Catering from 2020 to 2024 [3][4]. - The company attributed the lack of timely disclosure to discrepancies between actual shareholders and those registered, as well as insufficient knowledge among executives regarding related parties [3][4]. - The actual control of Weishida was found to be held by Xu Jingen, who was not listed as a shareholder in public records [3][6]. Group 3: Company Structure and Relationships - The actual control of Yingzhirong was linked to former director Qu Liping, who held shares through a proxy arrangement, and the financial director's spouse also had a stake in the company [4][5]. - The actual controller of Kesheng Catering is related to the actual controller of Kosun Technology, indicating a complex web of relationships [5][6].