Breo(SH:688793) Zhong Guo Neng Yuan Wang·2025-12-26 03:12Core Viewpoint - Shenzhen Beilingsong Technology Co., Ltd. (688793.SH) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, leading to a significant drop in its stock price by 14.6% to 22.63 CNY per share, with a total market value of approximately 2 billion CNY [2]. Group 1: Regulatory Investigation - The company received a notice from the CSRC on December 25, indicating that both the company and its actual controller, Ma Xuejun, are being investigated for information disclosure violations [2]. - The company stated that its business operations are currently normal and it will cooperate with the CSRC during the investigation [2]. Group 2: Financial Performance - In the first three quarters of 2025, the company reported a revenue of 552 million CNY, a year-on-year decline of 34.07%, and a net loss attributable to shareholders of 65.63 million CNY, marking a 600.98% decrease from profit [3]. - The company's net profit for the years 2022 to 2024 showed losses of 124 million CNY, 50.87 million CNY, and a brief profit of 10.25 million CNY in 2024, followed by a return to losses in 2025 [4]. Group 3: Historical Issues - Ma Xuejun has been under scrutiny for non-operational fund occupation, with a total of 12.08 million CNY occupied from 2021 to 2022 through employee loans and advance payments to suppliers [2]. - The principal amount of the occupied funds has been fully repaid, along with all related interest by July 2025 [3].