山东新潮能源股份有限公司（简称ST新潮，600777.SH），这家市值超200亿（截至5月7日为218.3亿）公司的股民，这几天有点儿焦虑，甚至 恐慌了。 本来坐山观虎斗、鹬蚌相争的渔翁得利之局，突然横生变数。此前，内蒙古伊泰煤炭股份有限公司（900948.SH，下称"伊泰B股"）和浙江金帝 石油勘探开发有限公司（下称"金帝石油"），都向ST新潮股东发出部分要约收购。 制图：佘诗婕 7日，ST新潮公告称，6日收到中国证监会的《立案告知书》，原因是未按规定披露2024年年报。 有意思的是，尽管被中国证监会立案调查，ST新潮却公告称，"公司将积极配合中国证监会的相关工作，并严格按照规定及监管要求履行信息 披露义务。目前公司经营情况正常。" 而对ST新潮的投资者来说，现在面临的风险和不确定性就大多了。 根据《上市公司信息披露管理办法》，ST新潮股票自5月6日起停牌。若停牌后两个月内仍无法披露年报，将被实施退市风险警示（*ST）；若 此后两个月仍未披露，可能被终止上市。 也就是说，ST新潮的股民未来一段时间内可能面临股票退市的风险。 有猜测称，公司年报难产可能与更换审计机构有关。 2024年，ST新潮的原审计机构中兴 ...

Core Viewpoint - Tianmao Group's failure to disclose its 2024 annual report and 2025 Q1 report within the legal deadline has led to a suspension of trading by the Shenzhen Stock Exchange and an investigation by the China Securities Regulatory Commission (CSRC), highlighting issues related to corporate governance, financial risk, and regulatory compliance [1][2][3] Group 1: Disclosure Issues - The company was scheduled to disclose its periodic reports on April 29, 2025, but failed to do so by the legal deadline of April 30 due to the need for further verification of certain information [1] - Trading of the company's stock was suspended starting May 6, 2025, and if the annual report is not disclosed within two months, it will face a delisting risk warning (ST) [1][2] - The CSRC has initiated an investigation into the company for failing to disclose regular reports on time, which increases the risk of delisting [1][2] Group 2: Financial Performance - Tianmao Group has been experiencing continuous losses, reporting a loss of 652 million yuan in 2023, with an expected loss of between 500 million to 750 million yuan in 2024, primarily due to the underperformance of its subsidiary, Guohua Life Insurance [1][2] - Guohua Life Insurance has faced challenges such as increased reserve requirements due to declining interest rates, investment losses (e.g., losses from Guanghui Automotive stocks), and a 23.8% year-on-year decline in premium income in Q1 2025 [1][2] Group 3: Market Reaction and Investor Sentiment - The company's stock price has dropped over 40% from its peak at the beginning of the year, closing at 2.74 yuan before the suspension, resulting in a market capitalization reduction to 13.5 billion yuan [2] - The company's measures, such as a share buyback of 36.49 million shares, have not effectively restored market confidence, with investors expressing skepticism about the company's explanations and fearing potential financial fraud or asset issues [2][3] Group 4: Broader Industry Implications - The incident raises concerns about the financial stability of the insurance industry, particularly for small and medium-sized insurance companies under pressure from declining interest rates and reserve requirements [2][3] - The case serves as a warning for the capital market, emphasizing the need for listed companies to strengthen internal controls and audit cooperation to avoid risks stemming from disclosure deficiencies [3]

Core Points - Several companies in the A-share market have suspended trading due to the inability to disclose annual reports on time, raising concerns about potential delisting risks [1][2] - Companies affected include Jinlitai, Tianmao Group, *ST Hengli, ST Xinchao, and Zitian Technology, all of which failed to meet the legal deadline for report disclosure [1][2] - Tianmao Group forecasts a net loss of 500 million to 750 million yuan for the previous year [1] - *ST Hengli faces delisting as it cannot disclose its 2024 annual report and 2025 Q1 report within the required timeframe [1] - Zitian Technology has not appointed an annual audit accountant, preventing it from disclosing its reports on time [2] - The A-share market mandates companies to publish annual reports within four months after the fiscal year-end, with strict penalties for non-compliance [2] - The robotics industry is highlighted as a growth sector, yet *ST Gongzhi, involved in industrial robotics, is facing delisting due to continuous financial losses [2][3] - *ST Gongzhi has reported a net loss of approximately 215 million yuan for 2024 and has received a notice of termination of listing from the Shenzhen Stock Exchange [3]

值得注意的是，ST新潮、 紫天科技 、金力泰、 天茂集团 等公司的股价在年报"难产"公告后表现不 一。尤其是ST新潮，尽管面临财务信息补充和核实的问题，股价却逆势上涨，显示出资金的关注与炒 作。相对而言，天茂集团和ST恒立则因业绩不佳和审计未完成，股价表现疲软，甚至遭遇连续跌停。 这些公司的年报无法按时披露，往往意味着其面临较大的经营风险，未来可能会被实施"退市风险警 示"，甚至在严重情况下面临强制退市。因此，投资者需密切关注这些公司未来的财务状况及监管动 向。 截至2025年5月6日，A股上市公司年报披露季已结束，但依然有8家公司未能按时披露年报。 玉龙股份 、 中航产融 和 普利退 三家公司正在推进退市程序，因此无法提交年报。其余五家公司由于重要事项未 能完成核实或补充，年报至今仍未能披露，且这些公司股票已于5月6日起停牌。停牌前，尽管大多数公 司的股价呈现下跌趋势，但 ST新潮 在公告"年报难产"后，反而迎来了股价的上涨。 这些年报"难产"的公司市值差异显著。玉龙股份和中航产融市值较大，分别超过百亿元，其中中航产融 的市值达到306亿元。相反， 金力泰 等其他公司的市值则较小，约为20亿元或更低。对于这 ...

Group 1 - The company guarantees the authenticity, accuracy, and completeness of the quarterly report, and assumes legal responsibility for any false records or misleading statements [2][3] - The financial data for the first quarter is not audited, indicating that the figures may be subject to change upon final audit [3][8] - The company has a significant risk of delisting if its audited profit or revenue falls below specified thresholds, particularly due to its reliance on military product sales [5][6] Group 2 - The company has recognized revenue of 53,562,000.00 yuan from a certain model's supporting products, with accounts receivable of 13,571,616.00 yuan as of December 31, 2024, and has made provisions for bad debts [6][7] - A dispute regarding the pricing of certain military products has arisen, and an agreement has been reached to initiate a pricing review process, although the details have not yet been finalized [7] - The financial statements for the first quarter of 2025 are prepared but remain unaudited, with no significant changes reported from previous periods [8]

Core Viewpoint - The article discusses the impending delisting of Guandao Digital, which is set to become the first true delisted stock on the Beijing Stock Exchange due to a "disclaimer of opinion" audit report for its 2024 annual report, following an ongoing investigation by the China Securities Regulatory Commission (CSRC) for information disclosure violations [1][2]. Group 1: Audit and Financial Issues - Guandao Digital's 2024 annual report received a "disclaimer of opinion" from the auditing firm Zhongshunhua, indicating systemic fraud involving falsified contracts and inflated revenue and net profit, leading to a complete failure of the internal control system [2][4]. - The audit report highlighted three main reasons for the disclaimer: the inability to verify the accuracy of prior accounting corrections, the ongoing CSRC investigation, and significant uncertainties regarding the company's ability to continue as a going concern due to halted main business operations and overdue loans totaling 32.21 million yuan [4][5][6]. Group 2: Company Response and Actions - The board of directors of Guandao Digital has acknowledged the audit findings and is taking steps to address the issues, including hiring a third-party independent agency for further investigation and implementing a rectification plan with clear timelines and responsibilities [3][7]. - The company is also working to stabilize its industrial digitalization business in collaboration with Siemens and is exploring various funding channels to resolve short-term cash flow issues [7]. Group 3: Investor Protection Measures - Guandao Digital's sponsor, Wukuang Securities, has announced plans to take all possible measures, including advance compensation, to protect investor rights amid the ongoing investigation and financial discrepancies [8]. - The article references a previous case where a similar advance compensation fund was established for investors affected by fraudulent activities, highlighting the importance of swift action to mitigate investor losses [9].

4月的最后一个交易日，北交所上市公司广道数字停牌一天。 "经审计，广道数字公司存在系统性舞弊行为，通过伪造合同、虚构交易单据等手段虚构业务活动，蓄意虚增 营业收入及净利润等，上述行为对财务报表产生广泛而重大的影响。"中审华会计师事务所（特殊普通合伙） （简称"中审华"）表示，因上述舞弊活动，广道数字公司现有的内部控制体系已全面失效，无法实现对财务报 告及相关信息真实性、完整性、准确性的合理保证，严重背离内部控制的基本目标。 该公司独立董事王洋进一步表示，其高度重视审计发现的问题，已要求董事会和管理层就相关事项出具专项说 明和整改计划，推动聘请第三方独立机构进一步核查问题成因及整改效果，并明确整改时间表和责任人。 财务造假遭监管立案调查 之所以对广道数字2024年年报出具无法表示意见的审计报告，中审华给出了三点理由： 一是前期差错更正的准确性和完整性及其对财务报表的影响。 由于2024年年报被出具了无法表示意见的审计意见，"五一"节后这只个股将变为"*ST广道"。这也意味着，北 交所或许即将迎来首只真正意义上的退市股票。 此前在2024年12月，广道数字因涉嫌信息披露违法违规被证监会立案调查，目前调查尚在进行中 ...

Core Viewpoint - ST New潮's stock will be suspended from trading starting May 6 due to the inability to disclose the audited 2024 annual report and the 2025 Q1 report within the legal deadline [1][2] Group 1: Suspension Details - The suspension is in accordance with the Shanghai Stock Exchange regulations, which state that if a company fails to disclose its annual report by April 30, trading will be suspended on the first trading day of May, with a maximum suspension period of two months [1] - If the company does not disclose the reports during the suspension period, it will face a risk warning (*ST) and could initiate delisting procedures if the reports are not completed within the following two months [1] Group 2: Reasons for Delay - ST New潮 attributed the delay to the tight timeline for the audit process, as the audit team was conducting on-site audits in the U.S. and faced challenges in collecting necessary materials, including confirmation letters that require significant time to gather [1] - The company is actively working to provide the required materials and is urging clients to complete the necessary confirmations to facilitate the audit process [1] Group 3: Impact on Acquisition - The ongoing tender offer by ST New潮 will not be affected by the stock suspension [2] - The company acknowledged that the change in accounting firms led to a tight timeline for the audit, making the delay in the annual report somewhat expected [2] Group 4: Accounting Firm Change - On March 20, ST New潮 announced the appointment of Lixin Certified Public Accountants as the new auditing firm for the 2024 annual report [2] - The previous auditing firm, Zhongrui Cheng, resigned due to an underestimation of the workload and their capacity to complete the audit on time [2]

Group 1 - The core viewpoint of the news is that Shenzhen Jianyi Decoration Group Co., Ltd. reported a slight increase in revenue but significant net losses due to asset impairment losses [2][3] - In 2024, the company achieved an operating income of 6.249 billion yuan, a year-on-year increase of 0.79%, while the net loss attributable to shareholders was 829 million yuan, a decline of 47.23% [2] - The substantial losses were primarily driven by a surge in asset impairment losses, totaling 945 million yuan, with bad debt losses from receivables reaching 587 million yuan [2] Group 2 - Financial expenses increased by 10.69% to 228 million yuan, further eroding profit margins alongside rigid management and sales expenses [2] - As of the end of 2024, the company's asset-liability ratio rose to 107.88%, with current liabilities reaching 7.285 billion yuan, indicating significant short-term debt pressure [2] - The company reported that 88% of the bad debt losses were related to receivables from Evergrande, with a 100% provision for bad debts if Evergrande's payables were excluded [2] Group 3 - In response to the industry downturn, the company accelerated its business transformation, with revenue from green energy business growing by 41.49% to 202 million yuan [3] - The company made strategic moves by acquiring mining rights for granite, expanding into the stone industry chain, and achieving breakthroughs in the Hong Kong market with project bids exceeding 100 million yuan [3] - The company has reported negative net profit for three consecutive years, and its negative net assets have triggered delisting risk warnings [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 2025年4月30日，帕瓦股份（维权）因内控被否触发"其他风险警示"，更名为"ST帕瓦"，成为科创板首 例因内控问题"戴帽"的企业。 事实上，我们在今年2月对该公司风险提前发出预警。在《帕瓦股份审计程序不到位暴露两大风险？存 货减值计提是否充分 收入端是否存水分》一文，我们对公司收入真实性及资产是否可能高估发出质 疑。 警示函揭开财务舞弊链条：系统性造假与审计失守 2025年3月26日，浙江证监局的一纸《警示函》揭开帕瓦股份（688184.SH）财务舞弊的冰山。监管调 查显示，该公司通过虚增营业收入、少提存货跌价准备、虚增在建工程等系统性手段，导致2023年年报 及2024年多期定期报告存在重大错报。具体而言： 收入端造假：虚构交易与会计处理弹性 现金流恶化与监管连环问责 公司经营质量持续恶化：2023年经营活动现金流净额同比下滑133.7%，2024年上半年进一步录得-1.14 亿元。浙江证监局在一年内两次下发警示函，直指其业绩预告差异超1.1亿元、多期财报信息披露失 真。审计机构容诚所更因"工作量远超预期"火速辞任，侧面印证财务数据存在重大审计障碍。 这一 ...