Group 1 - The core business of *ST Panda is heavily reliant on fireworks products, which account for 99.99% of its revenue, while the small loan segment contributes only 0.01% [1] - On July 30, 2025, the Shanghai Stock Exchange criticized *ST Panda and its responsible individuals for discrepancies between the company's performance forecasts and actual results, which could significantly impact stock prices and investor decisions [3] - The company failed to timely disclose corrections to its performance announcements, violating multiple provisions of the Shanghai Stock Exchange's listing rules [3] Group 2 - The disciplinary actions taken against *ST Panda include a public reprimand for the then Chairman and acting General Manager Xu Jinhwan, the then Chief Financial Officer Huang Yuhan, and the then Board Secretary Luo Chunyan [3]

Core Viewpoint - The South Black Sesame Group Co., Ltd. received a warning letter from the China Securities Regulatory Commission's Guangxi Regulatory Bureau due to failure to timely disclose significant events and fulfill other responsibilities [1][2] Summary by Relevant Sections Violations - The controlling shareholder and related parties occupied non-operating funds of Black Sesame, failing to disclose these transactions in a timely manner as required by regulatory guidelines [1] - Black Sesame provided external guarantees without timely disclosure or fulfilling necessary review procedures, specifically guaranteeing a loan of 505 million yuan for a children's hospital project [1] Regulatory Actions - The regulatory measure taken was the issuance of a warning letter, which will be recorded in the securities and futures market integrity archives [2]

文/梧桐晓编 4月16日晚上，国内著名奶粉公司贝因美（002570）公告：公司及相关人员、控股股东于近日收到浙江证监局下发的行政监管措施决定书。浙江证监局在现场检 查中发现公司存在以下问题：1、公司收入确认不符合企业会计准则，上述事项导致公司定期财务报告披露不准确；2、公司控股股东贝因美集团有限公司存在非 经营性资金占用情形，控股股东 2021 年和 2022 年分别占用公司资金 3091.66 万元和 1693.55 万元，上述资金在当年内归还公司；3、公司对广西全安圣企业管理 有限公司的财务资助事项未及时审议并披露。浙江证监局决定对公司及其控股股东贝因美集团有限公司、公司董事长兼总经理谢宏、董事会秘书兼财务总监金志 强、时任财务总监陈滨、时任董事会秘书李志容、时任总经理包秀飞时任副董事长张洲峰分别采取出具警示函的监督管理措施，并记入证券期货市场诚信档案。 第五十一条规定,对上述三项违规事项承担主要责任;时任总经理包秀飞违反了 《上市公司信息披露管理办法》(证监会令第40号)第三条、第五十八条规定, 对上述第一项违规事项承担主要责任;时任副董事长张洲峰违反了《上市公司信 息披露管理办法》(证监会令第182号 ...