Welcome back. The Securities and Exchange Commission on a mission to make it easier for companies to go public in America and easier to grow. I spoke with SEC Chairman Paul Atkins at the New York Stock Exchange to get a status check.What is your stance right now in terms of how to generate more excitement for initial public offerings and get companies to go public more often. So, I'm talking about how to make IPOs great again and you know to make it cool to be uh you know to have an IPO. I think that's kind ...

（文章来源：证券日报） 证券日报网讯 12月2日，中力股份在互动平台回答投资者提问时表示，二级市场的股价波动受宏观经济 环境、行业政策、市场情绪等多重复杂因素影响，敬请注意投资风险。公司一直致力于强化信息披露与 主动沟通，明确战略规划与优化投资者回报，用更好的业绩回报投资者信任。 ...

【环球网财经综合报道】杭州觅睿科技股份有限公司主业专注于物联网智能终端产品，为客户提供全站式民用视频 解决方案，该公司目前正在申请上市。 公开信息显示，觅睿科技的实控人袁海忠，此前于2024年9月因其控制的博菱电器（873083.NQ）存在未准确认定关 联方、未审议并披露关联交易及向供应商提供借款的会计核算不规范、信息披露不准确等违规事项，被宁波证监局 出具警示函，并记入证券期货市场诚信档案。 根据觅睿科技本次申请IPO的信息披露，华宇智迅受觅睿科技离职员工郁华炜控制，因此构成觅睿科技的关联方，同 时也是觅睿科技2023年度第三大供应商，招股书披露的采购金额为1890.48万元，但是根据觅睿科技在2024年8月发 布的《2023年年度报告(更正后)》，当年对该供应商采购金额为1888.06万元，与招股书披露并不一致。至于这是否 指向觅睿科技针对关联交易的信息披露也不严谨，觅睿科技并未回应记者的采访。 不仅如此，在针对个别供应商采购数据存在差异的基础上，现金流量表中的"购买商品、接受劳务支付的现金"科 目，资产负债表中的应付账款科目金额却能保持一致，这也不符合正常的会计核算逻辑。 | 序号 | 供应商 | 采购 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 ◇ 作者：钟言 ◇ 本文原载《债券》2025年11月刊 防范化解风险是金融工作永恒的主题。近日发布的《中共中央关于制定国民经济和社会发展第十五个五 年规划的建议》对防范化解金融风险作出重要部署。债券市场风险防控可从制度、技术、市场三方面着 手，筑牢体系防线，服务金融高质量发展。 一是夯实风控制度基础。健全的制度规则让风险防控有章可循、有规可依。巩固债市运行的基础制度， 以穿透监管为原则，完善市场风险监测机制。优化信息披露相关机制，压实发行人与中介机构的信息披 露责任，制定绿色、科技等重点领域信息披露标准，降低投资者与发行方之间信息不对称。强化金融机 构债券业务内控和监督，落实中介机构主体责任。适度强化违约处置和违规查处机制，畅通债务重组等 退出渠道，提高违约处置效率，对虚假披露、操纵市场、逃废债等违规行为严格执法，以制度威慑筑牢 风险防线。 二是加强数字技术赋能。大数据、人工智能等数字技术日益发展，使债市风险防控更加智能有效。深化 债市信息披露数字化转型，探索应用可扩展商业语言等数字技术，促进债市信息披露更加结构化，便利 信息披露数据在市场机构间共享利用。加强 ...

Core Viewpoint - The company received a warning letter from the Gansu Securities Regulatory Bureau regarding inaccuracies in financial disclosures and incomplete share repurchase actions, prompting immediate corrective measures and a commitment to improve compliance and governance practices [1][3][7]. Group 1: Issues Identified - **Inaccurate Financial Data**: The company disclosed inaccurate financial data in its consolidated balance sheets and profit statements for the first three quarters of 2024, violating relevant disclosure regulations [3]. - **Incomplete Share Repurchase**: The company failed to complete its share repurchase plan initiated on July 25, 2024, which contravened multiple regulatory requirements [7]. Group 2: Corrective Measures - **Financial Data Correction**: The company held a board meeting on April 28, 2025, to approve corrections to previously reported financial data, and plans to establish an internal accountability mechanism by December 31, 2025 [4][6]. - **Share Repurchase Actions**: Following the expiration of the repurchase plan, the company continued to buy back shares, acquiring 3,988,700 shares for a total of 10,002,637 yuan, with a cumulative repurchase of 8,821,800 shares amounting to 21,017,421 yuan [9]. - **Ongoing Compliance Training**: The company will regularly organize training sessions for relevant personnel on securities laws and regulations to enhance internal control and compliance awareness [9]. Group 3: Commitment to Improvement - The warning letter serves as a critical reminder for the company to enhance its operational standards and disclosure quality, with a commitment to ongoing rectification and prevention of similar issues in the future [9]. - The company aims to strengthen its internal management and risk prevention capabilities, ensuring the protection of investor interests and promoting sustainable development [9].

Core Viewpoint - Guangdong Gaole Co., Ltd. disclosed that it has not faced any penalties from regulatory authorities in the past five years, except for a regulatory letter received in 2022 due to discrepancies in performance forecasts and annual report data [1][2][3] Summary by Sections Regulatory Actions - The company has not been subject to any penalties from securities regulatory bodies or exchanges in the last five years, with the exception of a regulatory letter from the Shenzhen Stock Exchange on July 11, 2022 [2][3] - The regulatory letter was issued due to significant differences between the net profit forecast and the audited annual report for 2021, which was not corrected in a timely manner [2] Performance Discrepancies - The initial performance forecast on January 29, 2022, estimated a net loss of between 46 million to 70 million yuan for 2021, which was later revised to a net loss of 108.7 million yuan on April 20, 2022 [2] - The audited annual report released on April 29, 2022, confirmed a net loss of 108.66 million yuan for 2021, highlighting the discrepancies that led to regulatory scrutiny [2] Company Response - The company has taken the regulatory letter seriously and has organized personnel to enhance their understanding of relevant laws and regulations, aiming to prevent future issues [3] - The company commits to diligent and prudent decision-making to protect the rights of investors and ensure compliance with information disclosure obligations [3]

Core Viewpoint - The internal governance struggle at ST Yinjian (300020) has been exposed, highlighting issues such as delayed notifications for board meetings, lack of transparency in voting results, and the occurrence of two board meetings for the same agenda without proper disclosure [1][3][11]. Group 1: Board Meeting Issues - On November 18, ST Yinjian held a board meeting where the resolution for new board candidates was passed with a vote of 5 in favor, 0 against, and 0 abstentions [2]. - Two directors, Peng Xiaoyong and Cai Yang, were absent from the meeting, claiming they were "passively absent" due to a lack of response from the acting chairman when they sought information about the meeting [3][4]. - The same board meeting was held on November 12, where both directors voted against the resolutions, but the company did not disclose the results of that meeting [9][11]. Group 2: Communication Failures - Peng Xiaoyong reported that he did not receive the meeting link until 28 hours after the meeting had already taken place, raising concerns about the communication process [7][8]. - The acting chairman failed to provide necessary details about the meeting agenda in advance, which hindered the directors' ability to review the proposals adequately [4][9]. - The lack of timely communication and the use of an unknown number to send the meeting link were deemed abnormal by Peng Xiaoyong [8]. Group 3: Legal and Regulatory Actions - Peng Xiaoyong has reported the governance issues to regulatory authorities and has filed a lawsuit against the company to annul the decisions made during the meetings that had significant procedural flaws [11]. - A former company secretary left after only two and a half months, indicating potential instability within the company's governance structure [14].

Core Viewpoint - Shennong Group has received a warning letter from the Henan Securities Regulatory Bureau due to exceeding the expected amount of related party transactions in financing leasing, highlighting issues in the company's compliance and risk management practices [1][3]. Summary by Sections Regulatory Actions - The company was issued a warning letter for failing to adhere to disclosure obligations and approval procedures regarding related party transactions, specifically exceeding the annual expected amount by 440 million yuan [1][3]. - Key executives, including the Chairman, General Manager, and Board Secretary, have been named in the warning and recorded in the integrity archives [2][3]. Financial Performance - In the first nine months of 2025, Shennong Group reported related party transactions in financing leasing amounting to 1.94 billion yuan, surpassing the previously set limit of 1.5 billion yuan [3]. - The exceeded amount represents 6.14% of the company's audited net assets of approximately 7.163 billion yuan as of the end of 2024, necessitating a re-evaluation and disclosure to shareholders [3]. Future Projections - The company anticipates a significant increase in related party transactions, projecting a total of 14.559 billion yuan for 2025, up from 12.092 billion yuan in 2024 [4]. - Expected procurement from the controlling shareholder is projected at 5.909 billion yuan, while sales to the same entity are estimated at around 1 billion yuan [4]. Operational Insights - The company has shown a pattern of frequent related party transactions, with 550 million yuan occurring in just the first two months of 2025 [5]. - In addition, Shennong Group plans to maintain a maximum daily deposit balance of 3 billion yuan with its financial company, with interest rates ranging from 0.5% to 1.65% [5]. Management Response - In response to the warning, the company has expressed its commitment to addressing the issues raised, emphasizing the need for improved compliance with securities laws and regulations [5].

Core Viewpoint - Haosai is under investigation for suspected information disclosure violations, raising questions about potential bribery related to its performance and the competitive nature of its industry [1][2] Group 1: Company Background - Haosai's main business includes smart lighting, smart tourism, and smart cities, with lighting design and engineering as its core revenue source [4] - The industry is highly competitive, with demand influenced by economic cycles, macroeconomic policies, and local government finances [4] - The company's clients primarily consist of state-owned enterprises and government departments, utilizing bidding and negotiation for business acquisition [4] Group 2: Financial Performance - Since its listing in 2019, Haosai has faced continuous losses, with revenues declining from 7.88 billion in 2020 to 4.59 billion in 2024 [5] - In the first three quarters of 2025, the company reported revenues of 2.65 billion, a year-on-year decrease of 29.79%, and a net loss of 2631.38 million, a decline of 523.96% [6] Group 3: Internal Control and Compliance Issues - The company has faced scrutiny for its internal controls and compliance, receiving a regulatory warning for failing to disclose information timely [8] - The investigation into bribery and the subsequent legal actions against its former chairman highlight significant governance and operational deficiencies [2][8]

近日，上交所持有型不动产ABS信息披露机制建设迎来关键发展节点，建信长租等持有型不动产ABS常 态化披露了三季度资产管理报告。同时，首次向市场发布了核心要素表。 可以看到，核心要素表等信披文件聚焦于产品基本要素、机制安排、底层资产运营表现、估值数据及投 资价值参考指标等核心特征，在上交所持有型不动产ABS信息披露专区进行了集中展示，使投资者对于 产品的关键信息一目了然。 从多元探索到标准统一信披建设赋能精准服务 "过去，我们面对产品类型丰富的ABS市场，最大的挑战是缺乏格式统一的数据定位体系。随着市场发 展，客户对ABS标准化数据的需求日益迫切。投资者会要求我们提供可比、可验证的底层资产数 据。"某头部数据服务商负责人坦言，"不同项目采用不同指标，投资者难以横向比较，我们只能进行碎 片化处理，这也使得服务效率相对低下。" 2025年8月，上交所推出了持有型不动产ABS信息披露专区，旨在集中展示持有型不动产ABS项目的信 息披露文件，投资者可在专区查阅产品公告，有效提升获取信息的针对性和便捷性。此后，建信长租、 万国数据等产品率先发布了核心要素表，首次在一份信披文件中全面、清晰地呈现了产品的基本信息、 底层资产 ...