官宣！300111，被立案调查

Core Viewpoint - The Zhejiang Securities Regulatory Bureau has initiated an investigation into Sunflower (300111) due to concerns regarding misleading statements in its restructuring plan, particularly related to the actual production capacity and business model of its acquisition targets [1][2]. Group 1: Investigation and Regulatory Actions - The investigation was prompted by market skepticism regarding the restructuring plan's claims about the production capabilities of the acquired companies [1]. - The China Securities Regulatory Commission (CSRC) will handle the situation based on the findings of the investigation to maintain order in the mergers and acquisitions market [2]. Group 2: Restructuring Plan Details - On September 21, 2025, Sunflower announced a restructuring plan to acquire 100% of Zhangzhou Xipu Material Technology Co., Ltd. and 40% of Zhejiang Beid Pharmaceutical Co., Ltd., with a share issuance price of 2.93 yuan per share [5]. - Xipu Material is a primary supplier of electronic-grade materials in the semiconductor sector and claims to provide comprehensive fluorine-related services [5]. - Following the announcement, Sunflower's stock price surged, reaching 10.28 yuan per share, with three consecutive trading days of price increases [5]. Group 3: Concerns and Market Reactions - Investigative reports revealed that Xipu Material's factories in Zhangzhou and Lanzhou were not operational, contradicting claims made in the restructuring proposal [5]. - The actual controller of Xipu Material, Chen Chaoqi, has another project, Jiangxi Zhanding, which is also stalled and involved in disputes [5]. - The Shenzhen Stock Exchange issued a letter of concern to Sunflower on December 26, 2025, requesting clarification on the production capacity and operational status of the factories [7]. Group 4: Company Performance - Sunflower's recent financial performance has been weak, with a revenue of 200 million yuan for the first three quarters of 2025, a year-on-year decline of 12.09%, and a net profit of 1.31 million yuan, down 53.10% year-on-year [7]. - As of January 14, 2026, Sunflower's stock closed at 6.20 yuan per share, a decrease of 10%, with a total market capitalization of 7.981 billion yuan [7].