605199，被证监会立案！

Core Viewpoint - ST HuLuWa has been subjected to an investigation by the China Securities Regulatory Commission (CSRC) due to alleged violations of information disclosure laws, affecting both the company and its chairman, Liu Jingping [1] Company Overview - ST HuLuWa is a domestic pharmaceutical manufacturer with integrated capabilities in research, production, and sales, focusing on traditional Chinese medicine and chemical drugs across various therapeutic areas [3] - The company's product portfolio includes categories such as respiratory, digestive, anti-infection, and nutritional supplements, supported by modern production bases and research centers in cities like Haikou and Nanning [3] Financial Performance - The company has experienced a significant decline in operating performance, reporting a net loss of 274 million yuan in 2024 and an additional loss of 11.21 million yuan in the first three quarters of 2025 [3] - In the first half of 2025, ST HuLuWa acknowledged challenges in a complex pharmaceutical market, citing intensified competition and demand adjustments, while striving to enhance its core competitiveness through innovation and market expansion [3][4] Market Challenges - The company's sales revenue has decreased due to fluctuations in market demand and intensified industry competition, leading to a decline in profits [4] - ST HuLuWa's stock has been under special risk warning since April 30, 2025, following a negative internal control audit report, which resulted in a significant drop in share price [4] Shareholder Information - The controlling shareholder, Hainan HuLuWa Investment Development Co., Ltd., holds 167 million shares, accounting for 41.76% of the total share capital, with 23.9 million shares (14.3% of its holdings) subject to judicial freezing until December 3, 2028 [6] - The company has stated that its production and operational activities are proceeding normally and that it will cooperate with the CSRC during the investigation while adhering to legal and regulatory disclosure requirements [6]