由此，北京证监局决定，对ST合纵责令改正，给予警告，并处以400万元的罚款；时任董事长刘泽刚、 总经理韦强、财务总监张晓屹一同被给予警告，并分别罚款300万元、150万元、100万元。 值得注意的是，刘泽刚、韦强、张仁增三人因未偿还宜宾市叙州区创益产业投资有限公司到期债务，导 致其三人合计持有的9242.37万股股份被公开拍卖。其中，在首轮拍卖流拍的情况下，ST合纵实控人刘 泽刚持有的公司5089.70万股股份二拍于今年3月完成。刘泽刚对ST合纵的持股比例从11.86%下降至 7.11%，刘泽刚仍为上市公司实际控制人。 2023年，ST合纵净利润为亏损6.43亿元，同比下降9044.38%，上市公司当年度年报被审计机构出具了保 留意见。审计机构指出，ST合纵存在未披露与相关方关联关系，大额预付账款交易实质不明，且ST合 纵因涉嫌信披违法违规被证监会立案调查。2024年，ST合纵再度亏损6.31亿元，此份年报又被审计机构 出具了保留意见，核心点在于上市公司与朱某某关联公司往来及减值问题尚未消除。 此外，ST合纵2024年内控报告被审计机构出具了否定意见，一笔1.8亿元的投资导致ST合纵期末形成大 额应收款项未收 ...

9月10日，白银有色公告称，公司收到中国证监会下发的《立案告知书》。因公司涉嫌信息披露违法违规，中国证监会决定对公司立案。 | 主要财务指标 | 本报告期 | 上年同期 | 本报告期比上年 | | --- | --- | --- | --- | | | (1-6月) | | 同期增减(%) | | 基本每股收益(元/股) | -0.029 | 0.002 | -1.550.00 | | 稀释每股收益(元/股) | -0.029 | 0.002 | -1550.00 | | 扣除非经常性损益后的基本每股收 | -0.002 | 0.002 | -200.00 | | 益(元/股) | | | | 白银有色公告称，目前，公司各项经营活动和业务均正常开展，将积极配合中国证监会的相关调查工作，并严格履行信息披露义务。 8月29日、9月1日、9月2日，白银有色连续三个交易日收盘价涨幅偏离值累计超过20%。 根据《上海证券交易所交易规则》有关规定，白银有色的上述情况属于股票交易异常波动。 9月3日，白银有色公告称，经公司自查并征询公司前两大股东中信国安实业集团有限公司、甘肃省新业资产经营有限责任公司，截至目前公司及前两大 ...

Core Viewpoint - Zhejiang Pava New Energy Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, involving both the company and its director Zhang Bao [1][2]. Group 1: Investigation Details - The company received a notice of investigation from the CSRC on September 5, 2025, regarding suspected information disclosure violations [1]. - Zhang Bao, a director and one of the actual controllers of the company, is also under investigation for alleged embezzlement, as indicated by a notice from the public security bureau dated August 1, 2025 [4][5]. - The company has been cooperating with the CSRC and is committed to fulfilling its information disclosure obligations as required by regulations [2][5]. Group 2: Impact on Operations - The company's daily operations are reported to be normal, and the ongoing investigation is not expected to have a significant impact on its production and business activities [2][5]. - Other board members and senior management are continuing their duties without interruption, and there has been no change in the company's control [5].

Core Viewpoint - Zhejiang Pawa New Energy Co., Ltd. is facing legal challenges due to the arrest of its co-actual controller and director, Zhang Bao, for alleged embezzlement, which has led to investigations by both the police and the China Securities Regulatory Commission (CSRC) [1][4]. Group 1 - The company received a notice from the police on August 1, 2025, indicating that Zhang Bao is under investigation for embezzlement [1]. - The company has confirmed that other board members and senior management are continuing their duties normally, and there has been no change in control or significant impact on daily operations [2][5]. - On September 5, 2025, the company and Zhang Bao received a formal notice from the CSRC regarding an investigation for suspected violations of information disclosure laws [4]. Group 2 - The company is committed to cooperating with the CSRC and adhering to regulatory requirements for information disclosure [5]. - The company has previously received a warning from the Zhejiang Securities Regulatory Bureau on March 25, 2025, related to the ongoing issues [5].

Core Viewpoint - ST Pava has faced significant legal and financial challenges, including the arrest of its actual controller and board member Zhang Bao for embezzlement, and ongoing investigations by the China Securities Regulatory Commission (CSRC) for information disclosure violations [1][4]. Group 1: Legal Issues - Zhang Bao, one of the actual controllers and a board member of ST Pava, has been arrested for embezzlement, with the Zhejiang Pava New Energy Co., Ltd. announcing this on September 7 [1]. - The company received a notice from the CSRC regarding an investigation into suspected violations of information disclosure laws [1]. - Zhang Bao has been implicated in the misappropriation of company funds totaling 1.91 billion yuan, with 300 million yuan already returned to the company [5][6]. Group 2: Financial Performance - In the first half of 2025, ST Pava reported a revenue of 239 million yuan, a year-on-year decrease of 58.99%, and a net loss attributable to shareholders of 158 million yuan, an increase of 52.61% in losses compared to the previous year [7]. - The company has experienced consecutive losses over the past two years, with net losses of 248 million yuan in 2023 and 727 million yuan in 2024 [7]. - Due to negative audit opinions on internal controls, ST Pava's stock was placed under risk warnings, leading to a change in its stock abbreviation [7]. Group 3: Market Performance - As of September 5, ST Pava's stock price increased by 4.64%, closing at 10.83 yuan per share, with a market capitalization of 1.722 billion yuan [8].

Core Viewpoint - ST Lingnan (002717) and its former controlling shareholder have been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [1] Group 1: Company Investigation - ST Lingnan and its current co-chairman and president, Yin Hongwei, received a notice of investigation from the CSRC due to alleged information disclosure violations [1] - The specific matters related to the investigation have not been disclosed in the announcement [1] - ST Lingnan has committed to cooperating with the CSRC and fulfilling its disclosure obligations according to relevant laws and regulations [1] Group 2: Shareholder Issues - Yin Hongwei's 20 million shares (1.10% of total shares) were auctioned by the Dongguan Intermediate People's Court for 33.65 million yuan [1] - In addition to the recent auction, Yin Hongwei has faced multiple share auctions and failed sales, including 19.26 million shares auctioned in December 2024 and 70 million shares that went unsold in June 2025 [2] Group 3: Financial Performance - ST Lingnan has reported consecutive annual losses: 1.554 billion yuan in 2022, 1.092 billion yuan in 2023, and 984 million yuan in 2024 [2] - In the first half of 2025, the company generated 179 million yuan in revenue, a decrease of 70.79% year-on-year, and reported a net profit loss of 128 million yuan [2][3] Group 4: Operational Challenges - The company's poor performance is attributed to extended project settlement cycles due to financial pressures on clients, decreased efficiency in accounts receivable turnover, and high financial costs from ongoing financing and overdue debts [3] - ST Lingnan is also facing multiple significant lawsuits and arbitration cases, including a judgment requiring repayment of 297 million yuan to the Agricultural Bank of China [4] - As of August 2025, the company has faced 1.39 billion yuan in undisclosed litigation and arbitration claims over the past twelve months, leading to the freezing of 341 out of 582 bank accounts, which constitutes 58.59% of its total accounts [4]

Core Viewpoint - ST Pava and one of its actual controllers, Zhang Bao, are under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [1][3]. Group 1: Company Operations - The company reported that its daily operations are normal and all business activities are proceeding in an orderly manner, indicating that the investigation will not have a significant impact on its production and operations [1][3]. - As of the announcement date, other board members, supervisors, and senior management are performing their duties normally, and there has been no change in the company's control [1][3]. Group 2: Financial Performance - ST Pava specializes in the research, production, and sales of new energy battery materials, focusing on lithium-ion and sodium-ion battery cathode materials, and is actively exploring advanced fields such as semi-solid and solid-state batteries [2]. - For the first half of 2025, the company reported a revenue of 239 million yuan, a year-on-year decrease of 58.99%, while the net profit attributable to shareholders was -158 million yuan, a year-on-year increase of 52.61% [2].

Core Viewpoint - Zhejiang Pava New Energy Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its operations but is currently reported to have normal business activities [1][2]. Group 1: Investigation Details - The CSRC has issued a "Notice of Case Filing" against the company and its director Zhang Bao for suspected violations of the Securities Law and the Administrative Penalty Law of the People's Republic of China [1]. - Zhang Bao has also received a separate notice from the CSRC regarding his case [1]. - The company had previously received a warning letter from the Zhejiang Securities Regulatory Bureau on March 25, 2025, and a case filing decision from law enforcement on August 1, 2025, related to Zhang Bao's alleged embezzlement [1]. Group 2: Company Operations - Despite the ongoing investigation, the company asserts that its daily operations and business activities are proceeding normally and that the investigation will not have a significant impact on its production and operations [1]. - The company has committed to cooperating with the CSRC and adhering to regulatory disclosure requirements [2].

Core Viewpoint - ST Lingnan and its former controlling shareholder Yin Hongwei are under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [2][4]. Group 1: Investigation and Legal Issues - The CSRC has issued a notice of investigation to ST Lingnan and Yin Hongwei due to alleged information disclosure violations [2][4]. - ST Lingnan has committed to cooperating with the CSRC's investigation and will adhere to relevant legal and regulatory requirements for information disclosure [4]. - Yin Hongwei's shares have been subject to judicial auction due to debt disputes, with 20 million shares sold for 33.65 million yuan [8][11]. Group 2: Financial Performance and Debt - ST Lingnan has faced significant financial difficulties, reporting losses of 1.554 billion yuan in 2022, 1.092 billion yuan in 2023, and 984 million yuan in 2024 [13][15]. - The company is currently involved in multiple lawsuits and arbitration cases, which have exacerbated its operational and financial pressures [12][17]. - As of September 5, 2025, ST Lingnan's revenue for the first half of the year was 179 million yuan, a decrease of 70.79% year-on-year, with a net loss of 128 million yuan, a reduction of 50.02% compared to the previous year [19][20]. Group 3: Shareholding and Corporate Structure - Yin Hongwei, the founder and former controlling shareholder, retains a significant stake in ST Lingnan, holding 267.8 million shares, which is 14.71% of the total shares [10][11]. - The company underwent a change in control in 2022, transferring ownership to Guangdong Zhongshan State-owned Assets, while Yin Hongwei remained the largest shareholder and a key executive [7][8]. - ST Lingnan's stock has been subject to risk warnings due to ongoing financial and operational challenges, leading to a change in its stock designation to "ST Lingnan" [17][20].

Core Viewpoint - ST Lingnan and its former controlling shareholder Yin Hongwei are under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, further complicating the company's already challenging situation [2][4]. Group 1: Investigation and Legal Issues - On September 5, ST Lingnan announced that both the company and Yin Hongwei received a notice of investigation from the CSRC due to suspected information disclosure violations [2][4]. - The specific matters involved in the investigation have not been disclosed, but ST Lingnan stated it would cooperate fully with the CSRC [4]. - Yin Hongwei's shares have been subject to judicial auction due to debt disputes, with 20 million shares auctioned for 33.65 million yuan [10][12]. Group 2: Financial Performance and Debt - ST Lingnan has faced significant financial difficulties, reporting losses of 1.55 billion yuan in 2022, 1.09 billion yuan in 2023, and 984 million yuan in 2024 [16][18]. - The company is currently under severe operational pressure, with multiple lawsuits and arbitration cases exacerbating its financial strain [15][19]. - As of September 5, ST Lingnan's stock price was 1.68 yuan per share, with a total market capitalization of 3.058 billion yuan [25]. Group 3: Shareholding and Control Changes - The company underwent a change in control in 2022, transferring ownership to Guangdong Zhongshan State-owned Assets, while Yin Hongwei retained the position of the largest shareholder and continued as a core executive [9][10]. - As of September 4, Yin Hongwei held 267.79 million shares, accounting for 14.71% of the total share capital, with 59.26 million shares already auctioned [12][13]. Group 4: Operational Challenges - In the first half of 2025, ST Lingnan reported revenue of 179 million yuan, a decrease of 70.79% year-on-year, and a net loss of 128 million yuan, which was a 50.02% reduction compared to the previous year [24]. - The company faces extended project settlement cycles and decreased efficiency in accounts receivable turnover, further straining its operational capabilities [24].