Zhong Guo Jing Ji Wang·2026-02-03 07:18Core Viewpoint - Fulin Precision (300432) has been subjected to regulatory measures by the Sichuan Securities Regulatory Bureau due to various compliance violations, including governance, internal control, financial accounting, and information disclosure issues [1][2]. Group 1: Compliance Violations - The company governance issues include missing individual votes from board resolutions and lack of signatures from insiders on confidential information records [1]. - Internal control problems involve related party transactions where contracts were signed after the work commenced, and some revenue recognition documents were not retained [1]. - Financial accounting irregularities include misreported income from outsourced processing materials, premature revenue recognition for exports, and unaccounted inventory depreciation [1]. - Information disclosure failures consist of untimely and inaccurate disclosures regarding related party transactions and bad debt provisions [1]. Group 2: Regulatory Actions - The Sichuan Securities Regulatory Bureau has mandated corrective actions for Fulin Precision and issued warning letters to key executives, including the chairman and general manager [2]. - The company is required to rectify the identified compliance issues as part of the regulatory measures [2]. Group 3: Fundraising Activities - Fulin Precision announced a plan to raise approximately 3.18 billion yuan through a private placement, with proceeds allocated to various projects, including high-end lithium iron phosphate production and key components for electric vehicles [2][3]. - The placement involves a significant investment from CATL, which will acquire over 5% of Fulin Precision's shares, constituting a related party transaction [3]. Group 4: Shareholder Actions - The actual controller, An Zhifu, has completed a share reduction plan, selling a total of 17,097,476 shares at an average price of 15.48 yuan per share, amounting to approximately 265 million yuan [3]. - An Zhifu's total cash raised from share reductions in 2025 reached approximately 488 million yuan [5].