“鸭脖大王” 股票将被ST

Core Viewpoint - Juewei Foods (stock code: 603517) has received an administrative penalty notice from the Hunan Securities Regulatory Bureau due to false financial disclosures in its annual reports, resulting in a total fine of 8.5 million yuan [2][6][10]. Summary by Sections Administrative Penalty - Juewei Foods was fined 4 million yuan, while key executives, including the former chairman and general manager, were fined 2 million yuan, 1.5 million yuan, and 1 million yuan respectively for their roles in the violations [10][12]. Stock Suspension and Risk Warning - The company's stock will be suspended for one day on September 22, 2025, and will be subject to other risk warnings starting September 23, 2025, with the stock name changing to "ST Juewei" [11][12]. Financial Misreporting - From 2017 to 2021, Juewei Foods failed to recognize revenue from franchise store renovations, leading to understated annual revenues by 5.48%, 3.79%, 2.20%, 2.39%, and 1.64% for the respective years [9][10]. Business Performance - In the first half of 2025, Juewei Foods reported revenue of 2.82 billion yuan, a year-on-year decline of 15.57%, and a net profit of 175 million yuan, down 40.71% year-on-year [15][19]. Store Count and Business Strategy - As of September 3, 2025, Juewei Foods had 10,838 operating stores, a decrease of over 5,000 from the previously reported 15,950 stores at the end of 2023. The company is exploring a new dining model called "Juewei Plus" to adapt to market pressures [18][19]. Future Outlook - Juewei Foods aims to enhance its internal controls and compliance measures while actively working to rectify the issues raised by the regulatory authorities. The company expresses its commitment to improving operational standards and addressing the impacts of the penalties on its business [12][13].