HES(SZ:002963) Zhong Guo Jing Ying Bao·2025-11-23 11:02Core Viewpoint - Haosai (002963.SZ) has received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation for suspected violations of information disclosure laws, which the company claims will not significantly impact its operations and management [1][4]. Summary by Sections Investigation Details - The CSRC has initiated an investigation against Haosai for suspected violations of information disclosure laws based on the Securities Law and the Administrative Penalty Law of the People's Republic of China [2]. - In August, Haosai disclosed that its controlling shareholder, Dai Baolin, was arrested for suspected unit bribery, and the company was under investigation for the same reason, leading to a warning letter from the Beijing Securities Regulatory Bureau [2]. Legal Consequences - On November 5, Haosai announced a first-instance judgment where the company was fined 7 million yuan for unit bribery, and Dai Baolin received a three-year prison sentence with a four-year probation and a fine of 3 million yuan [2]. - The prosecution later deemed the sentence for Dai Baolin as too lenient and decided to appeal [2]. Company’s Position - Haosai stated in its announcement that its business activities are currently operating normally and that the investigation will not have a significant impact on its operations and management [4]. - Legal experts have expressed skepticism regarding the company's assertion, suggesting that such claims are premature before the CSRC's conclusions [5]. Market Impact - The investigation by the CSRC is likely to negatively affect Haosai's market image and investor confidence, with potential administrative penalties introducing uncertainty to the company's financial status and business development [5]. - The company's statement may be an attempt to stabilize investor sentiment and prevent stock price fluctuations amid the ongoing investigation [5].