SUNFLOWER(SZ:300111) 21世纪经济报道·2026-01-15 04:10Core Viewpoint - The company Xiangrikui (300111.SZ) faced a significant drop in stock price due to a regulatory investigation by the China Securities Regulatory Commission (CSRC) regarding alleged misleading statements in its restructuring proposal [1][2]. Group 1: Regulatory Investigation - On January 14, the CSRC issued a notice to Xiangrikui, indicating that the company is under investigation for suspected violations of information disclosure laws [1]. - The Zhejiang Securities Regulatory Bureau is investigating the restructuring proposal for misleading statements, particularly concerning the actual production capacity and business model of the acquisition targets [1][3]. - As a result of the investigation, Xiangrikui announced the termination of its restructuring plans, as it no longer meets the conditions for issuing shares to purchase assets [1][2]. Group 2: Financial Performance - In the first three quarters of 2025, Xiangrikui reported revenue of 200 million yuan, a year-on-year decrease of 12.09%, and a net profit attributable to shareholders of 1.31 million yuan, down 53.10% year-on-year [3]. - The company's stock price fell to 4.96 yuan per share, representing a 20% decline, with a total market capitalization of 6.385 billion yuan [1][4]. Group 3: Acquisition Targets - Xiangrikui planned to acquire 100% of Zhangzhou Xipu Material Technology Co., Ltd. and 40% of Zhejiang Beide Pharmaceutical Co., Ltd. through a combination of share issuance and cash payment [2]. - The acquisition target, Xipu Material, is positioned in the semiconductor materials sector, which has garnered significant market attention [2]. - However, investigations revealed that the claimed production facilities of Xipu Material had not commenced operations, raising concerns about the accuracy of the company's statements [2].