涉误导性陈述被立案，向日葵重组“梦碎”

Core Viewpoint - The restructuring plan of Xiangrikui has escalated from a normal capital operation to a case suspected of legal violations, with investigations into its business model and actual production capacity pending [1][3]. Group 1: Restructuring Plan and Misleading Statements - On September 22, 2025, Xiangrikui announced a restructuring plan to acquire 100% of Zhangzhou Xipu Material Technology Co., Ltd. and 40% of Zhejiang Beid Pharmaceutical Co., Ltd. through share issuance and cash payment [10][11]. - The restructuring plan depicted a transition into the semiconductor materials sector, resulting in a significant increase in shareholder numbers from 60,000 on June 30, 2025, to 130,000 by September 30, 2025 [11][12]. - Initial market reactions were positive, but soon questions arose regarding the actual production capacity and business model of the acquisition targets, prompting an investigation by the Zhejiang Securities Regulatory Bureau [2][11]. Group 2: Termination of Major Asset Restructuring - On January 14, 2026, Xiangrikui announced that its restructuring plan was suspected of misleading statements, leading to a formal investigation by the Securities Regulatory Commission [3][12]. - Prior to the formal investigation, media reports revealed concerning truths about the acquisition target, specifically that a key asset, Jiangsu Fumait, had been out of production for nearly three years and its safety production license had expired [4][14]. - The investigation led to the termination of the major asset restructuring, as misleading statements regarding the actual production capacity and business model could severely mislead investors about the transaction's value [5][15]. Group 3: Investor Rights Protection - Legal experts indicated that misleading statements can lead to significant impacts on investor decisions, and the current compensation claim period is set for those who purchased shares between September 22, 2025, and December 25, 2025, and sold or held them at a loss after December 26, 2025 [17][18]. - Cases of companies being investigated for misleading statements are not uncommon, with examples including Simai Media and Yongyue Technology, where many were ultimately found to have violated regulations and faced various penalties [17].