Core Viewpoint - Jiaxian Co., Ltd. has received regulatory measures from the Anhui Securities Regulatory Bureau due to multiple violations, including inaccurate financial disclosures and improper management of raised funds [3][4][5][6]. Group 1: Regulatory Violations - The company has been found to have shareholding discrepancies in its subsidiary, Shafeng New Materials, which were not disclosed accurately in previous announcements [4]. - There were inaccuracies in the periodic reports regarding the performance commitments of Shafeng New Materials, leading to inflated profit figures [4]. - The company did not follow proper procedures for goodwill impairment testing in 2022, resulting in issues with the selection of relevant indicators [4]. - There were irregularities in the management and use of raised funds, including payments for non-investment projects [5]. - Related parties did not recuse themselves from voting during board meetings, which is a violation of governance protocols [6]. Group 2: Accountability and Measures Taken - The Anhui Securities Regulatory Bureau has held the chairman, the secretary of the board, and the deputy general manager responsible for these violations and issued warning letters to them [6]. - The company has initiated corrective measures, including the recovery of performance compensation from the parties involved and the reassessment of performance-related salaries for executives [7][8]. - The company has dismissed key personnel responsible for the violations and appointed new representatives to strengthen control over Shafeng New Materials [8]. Group 3: Financial Performance - Jiaxian Co., Ltd. has experienced a decline in net profit for three consecutive years from 2022 to 2024, with a significant drop of 77.58% in net profit for the first three quarters of 2025 compared to the previous year [9]. - The company's revenue for the first three quarters of 2025 was 409 million yuan, a decrease of 10.88% year-on-year [9]. - As of December 31, 2025, the company's stock price was 18 yuan per share, with a total market capitalization of 2.456 billion yuan [10].