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上市即“变脸”!它遭证监会立案调查!
JINSHENGJINSHENG(SZ:300849) IPO日报·2025-06-29 09:41

Core Viewpoint - Zhejiang Jinsong New Materials Co., Ltd. is under formal investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its stock performance and investor confidence [1][9]. Group 1: Company Overview - Jinsong New Materials, established in 1998, specializes in the research, production, and sales of plastic packaging containers for cosmetics, with over 1,000 product specifications [2]. - The company serves well-known clients such as Estée Lauder, Shanghai Jahwa, and Huaxi Biological [2]. - As of March 2025, the actual controllers of the company, Ruan Rongtao and Gao Lijun, hold a combined 35.11% of the company's shares [2]. Group 2: Financial Performance - Since its IPO in July 2020, the company has experienced a significant decline in profitability, with net profit dropping from 34.49 million yuan in 2020 to a loss of 22.51 million yuan in 2022 [3]. - The company has reported cumulative losses exceeding 69 million yuan over three consecutive years from 2021 to 2024 [3]. - The gross profit margin has decreased sharply from over 30% between 2016 and 2020 to 23.14% in 2021 and further down to 8.73% in 2022, indicating a nearly 80% decline in two years [6]. Group 3: Regulatory Environment - The company has committed to cooperating with the CSRC during the investigation and has stated that its normal business operations will not be significantly affected [2]. - The recent investigation highlights a "zero tolerance" approach by regulatory authorities towards information disclosure violations, as evidenced by penalties imposed on other companies [9]. - The new delisting rules pose additional risks for Jinsong New Materials, as administrative penalties for disclosure violations could lead to risk warnings, exacerbating the challenges faced by a company already experiencing continuous losses [11].