688793，证监会立案！

Core Viewpoint - The company Beiqingsong and its actual controller, Ma Xuejun, are under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [2][4]. Financial Performance - In the first three quarters of 2025, Beiqingsong's revenue decreased by 34.07% year-on-year to 552 million yuan, while the net profit attributable to shareholders dropped by 600.98% to -65.63 million yuan [9][13]. - The company's gross profit has declined due to a drop in online revenue, leading to insufficient returns on sales expenses and fixed costs that are difficult to adjust in the short term [13]. Shareholder Information - As of the end of the third quarter of 2025, Ma Xuejun directly holds 40.48% of Beiqingsong's shares and indirectly controls an additional 12.66% through various investment companies [6][8]. - The top ten shareholders include entities such as Ningbo Heting Investment Co., Ltd. and Ningbo Beirun Investment Co., Ltd., with the largest shareholder being Ma Xuejun [8]. Stock Market Data - As of December 25, 2025, Beiqingsong's stock price was 26.50 yuan per share, with a total market capitalization of 2.278 billion yuan [14].