Mei Ri Jing Ji Xin Wen·2026-01-18 12:36Core Viewpoint - The recent surge in A-share market activity has led to regulatory scrutiny of several companies involved in popular concepts like commercial aerospace, brain-computer interfaces, and artificial intelligence due to issues with information disclosure and risk warnings [1][2]. Group 1: Companies Under Scrutiny - Five companies, including Hangxiao Steel Structure, Electric Science Digital, Yahui Long, Yingjixin, and Tianpu Co., have received warning letters or are under investigation for misleading disclosures related to trending market concepts [1][2]. - Tianpu Co. experienced a significant stock price increase of 16 times by 2025, raising concerns about its information disclosure practices [1]. Group 2: Specific Company Issues - Hangxiao Steel Structure failed to accurately disclose the impact of its involvement in a commercial aerospace project, with the contract amount accounting for less than 1% of its 2024 audited revenue [2]. - Electric Science Digital reported that its satellite communication and AI products had minimal sales impact, with 2025 orders amounting to approximately 0.1% of overall business [3]. - Yahui Long's announcement regarding a strategic partnership in brain-computer interfaces lacked clarity on the technical capabilities of its partner, leading to regulatory warnings [4][5]. - Yingjixin's disclosures about its brain-computer interface chip were found to be misleading regarding the product's market readiness and sales impact [6]. - Tianpu Co. did not clarify its connection to artificial intelligence despite establishing a subsidiary focused on related technologies, leading to regulatory action [7][8]. Group 3: Historical Context and Trends - Several of the companies involved have a history of information disclosure issues, with Hangxiao Steel Structure being notably linked to a major insider trading case [12][13]. - The information disclosure ratings of these companies have declined significantly, with Hangxiao Steel Structure dropping from B to C, Electric Science Digital from A to B, and Tianpu Co. from B to D [12].