HULUWA(SH:605199) Shang Hai Zheng Quan Bao·2025-12-29 00:04Core Viewpoint - ST HuLuWa has been officially investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure regulations, which may indicate an escalation in regulatory scrutiny [2][12]. Group 1: Company Operations and Compliance - ST HuLuWa announced that its production and operational activities are currently normal and orderly, and the company will actively cooperate with the CSRC during the investigation [4][24]. - The company is a pharmaceutical manufacturer that integrates research, production, and sales, focusing on traditional Chinese medicine and chemical drugs across various treatment areas [4][24]. Group 2: Financial Reporting Issues - The Hainan Securities Regulatory Bureau found inaccuracies in ST HuLuWa's 2023 annual report regarding revenue and profit disclosures, leading to administrative corrective measures [4][29]. - The company reported significant corrections in its financial data: total revenue was adjusted from 1.905 billion to 1.795 billion, and net profit was revised down from 106.5 million to 10.85 million, reflecting a substantial decrease [8][29]. Group 3: Management Changes - Liu Jingping, the chairman, briefly resigned as the general manager to focus on strategic planning and governance, while Zhang Mingrui was appointed as the new general manager but resigned within two months for personal reasons [15][37]. - Liu Jingping was reappointed as the general manager on June 27, 2025, after the resignation of Zhang Mingrui [38].