300081，被立案！

Core Viewpoint - Hengxin Dongfang has been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, following the company's self-examination revealing accounting errors in its 2022 annual report, which led to a revenue reduction of over 180 million yuan [3][5]. Financial Performance - The company has reported cumulative net losses exceeding 2 billion yuan over the past five years, with a net loss of over 340 million yuan in the first quarter of this year [3][9]. - In the 2022 annual report, the company initially reported a revenue of 489 million yuan, which was later adjusted down to 308 million yuan, a decrease of 36.8% [5][6]. - The net losses for the years 2021 to 2024 were 513 million yuan, 513 million yuan, 421 million yuan, 281 million yuan, and 346 million yuan, respectively, totaling approximately 2.075 billion yuan [9]. Accounting Adjustments - The accounting error correction was due to a change in the revenue recognition method for the newly added business of computing power system integration and technical services, shifting from gross to net accounting [6]. - The revenue from this business was adjusted from 217 million yuan to 35.65 million yuan, a decline of over 80%, significantly impacting the overall revenue [6][7]. Business Operations - Despite the investigation, the company claims that its business operations are continuing normally and that the investigation will not have a significant impact on its operations [5]. - The computing power system integration and technical services business, which was expected to be a major revenue source, has seen its revenue contribution drop to less than 5% of total revenue in recent years [7]. Fundraising and Investment Projects - Hengxin Dongfang has frequently delayed or terminated its fundraising projects, with significant changes in the allocation of raised funds [10][11]. - The company raised 683 million yuan in a private placement in November 2021, but later reduced the investment in the VR venue operation center to 19.85 million yuan and redirected funds to other projects [10]. - The company has also been using idle raised funds for cash management, with plans to use up to 130 million yuan for this purpose in 2023 [12].