中国经济网北京9月29日讯中国证监会网站26日发布关于对永辉超市（601933）股份有限公司采取出具 警示函措施的决定(〔2025〕67号)。经查，永辉超市股份有限公司(简称"永辉超市"，601933.SH)于2017 年通过协议转让方式收购成都红旗连锁（002697）股份有限公司(以下简称"红旗连锁"，002697.SZ)股份 并成为其持股5%以上股东。 《上市公司收购管理办法》第七十五条规定：上市公司的收购及相关股份权益变动活动中的信息披露义 务人，未按照本办法的规定履行报告、公告以及其他相关义务的，中国证监会责令改正，采取监管谈 话、出具警示函、责令暂停或者停止收购等监管措施。在改正前，相关信息披露义务人不得对其持有或 者实际支配的股份行使表决权。 2025年4月21日至2025年4月24日期间，永辉超市通过证券交易所集中交易方式减持红旗连锁股票1360万 股，持股比例由11%下降至10%。永辉超市在持股比例触及5%整数倍时，未及时披露权益变动报告书和 停止交易，直至2025年7月21日才披露《简式权益变动报告书》。上述行为违反了《上市公司收购管理 办法》(证监会令〔第227号〕)第十三条第二款的规定。 ...

Core Viewpoint - The investigation report on a safety incident at Kanglong Chemical, a leading CRO in China, reveals that two employees died due to asphyxiation during a production operation, highlighting significant management failures and safety protocol violations [2][3][4]. Company Overview - Kanglong Chemical (SZ300759) is a prominent CRO providing comprehensive R&D services to pharmaceutical companies, with a current stock price of 35.25 yuan and a market capitalization of 62.681 billion yuan [2]. Incident Details - The incident occurred on June 3, resulting in the deaths of two night shift operators during the crystallization experiment of a new drug, DP818. The accident was classified as a general production safety incident due to violations of operational protocols [2][3][4]. - The specific operation involved 248 steps, with the incident occurring during step 193, where operators were required to monitor and record temperatures [3]. Investigation Findings - The investigation identified that the operators failed to use an oxygen content detection device while releasing nitrogen gas, leading to their asphyxiation. The report indicated multiple management failures, including inadequate safety training and lack of adherence to safety protocols [4][5]. - The company’s management, including the COO, faces penalties, with suggested fines ranging from 20% to 50% of their annual salaries [5]. Financial Implications - Kanglong Chemical may face fines between 300,000 to 1 million yuan, which is relatively minor compared to its 2024 projected revenue of 12.276 billion yuan and net profit of 1.793 billion yuan [5]. Disclosure Obligations - The incident does not fall under mandatory disclosure requirements for listed companies as it is classified as a general accident. However, the company may still have obligations to disclose the incident if it significantly impacts financial performance or reputation [6].

Core Viewpoint - Shenzhen Kanda Electronic Technology Co., Ltd. received a warning letter from the Shenzhen Securities Regulatory Bureau regarding a violation of reporting obligations related to shareholding changes [1][2]. Summary by Sections Warning Letter Details - The warning letter was issued to Guo Fengming, a shareholder holding over 5% of the company's shares, for failing to report and announce changes in shareholding when the combined holding with concerted actors reached a multiple of 5% [1][2]. - The actions violated the "Measures for the Administration of the Acquisition of Listed Companies" and related regulations [1][2]. Regulatory Measures - The Shenzhen Securities Regulatory Bureau decided to issue a warning letter as an administrative regulatory measure, emphasizing the need for Guo Fengming to learn from the incident and prevent future violations [2]. - Guo Fengming is required to submit a written report to the bureau within 15 days of receiving the decision [2]. Company Response - The company and relevant personnel have acknowledged the issues raised in the warning letter and committed to enhancing their understanding of securities laws and regulations to prevent recurrence [3]. - The company will ensure that all directors, senior management, and relevant shareholders strengthen their compliance with regulations and fulfill information disclosure obligations [3]. - The regulatory measures will not affect the company's normal operations, and it will continue to comply with disclosure requirements [3].

【文/观察者网专栏作者 益智】 一面是几十万股东因遭遇"非ST股票一元闪电退市"惨遭血洗，一面是特朗普谬赞中国企业的"长期主义"并呼吁美国取消季报，歪打正着地提出了中国资本市 场信息披露制度的价值拷问。 这些投资者突然发现自己陷入了信息黑洞，在正常上市公司突然遭遇重大变故，急需了解公司经营状况、财务信息时，却无法获取季报财务信息，更加难以 判断公司真实状况。 如果是监管部门计划对五家公司的大股东违法行为进行严惩，理应事先发布处罚信息。然而，在这些遭遇非ST退市之际，并未发布针对其大股东的相关处 罚公告。即便监管部门提前掌握了部分上市公司大股东或董监高的违法行为，却未通过公告告知广大长期投资的中小投资者，默许了掌握内幕消息的大股东 不顾一切地在跌停板出货。 这种行为符合非法的"非ST股票一元退市规则"，导致上市公司闪电退市。广大无辜的中小投资者因此感受到被违法大股东株连九族，甚至怀疑某些监管人 员在其中做局。退市窗口期，不惜一切代价抛售股票的机构，不是操纵股价就是进行内幕交易。 而且那些没有签署过退市风险自担协议的被迫进入退市板投资者，突然面临流动性消失的窘境：原来自己的股票有2.2亿投资者可以买卖、退市后只有 ...

Group 1 - The company received a warning letter from the Anhui Regulatory Bureau of the China Securities Regulatory Commission regarding undisclosed agreements related to a 2017 private placement of shares [1] - The warning letter indicates that the company failed to disclose a guarantee agreement made by its former controlling shareholder, Wuhu Dehao Investment Co., Ltd., which promised to cover the investment principal and annual returns for certain investors [1] - This action was found to violate the regulations set forth in the "Administrative Measures for Information Disclosure of Listed Companies" [1] Group 2 - The company acknowledges the issues raised in the warning letter and emphasizes its commitment to improving compliance with relevant laws and regulations [3] - The company assures that the regulatory measures will not affect its normal production and operational activities [3] - The company will continue to fulfill its information disclosure obligations in a timely manner as required by regulatory authorities [3]

Core Viewpoint - Jiangsu Hengshang Energy Saving Technology Co., Ltd. received a warning letter from the Jiangsu Securities Regulatory Bureau due to violations related to the disclosure of fundraising project feasibility and market demand changes [1][2]. Group 1: Violations and Regulatory Actions - The company failed to reassess the feasibility of the "Jiangmen Intelligent Curtain Wall Production Base Construction Project" in light of significant market changes in South China, leading to insufficient and untimely risk disclosures [1]. - The actions of the company's general manager and board secretary were deemed to lack due diligence, resulting in their primary responsibility for the violations [1]. - The warning letter serves as an administrative regulatory measure and will be recorded in the securities and futures market integrity archive [1]. Group 2: Company Response and Future Actions - The company acknowledges the issues raised in the warning letter and plans to summarize the related problems, learn from the experience, and enhance training on relevant regulations [3]. - The company emphasizes that the regulatory measures will not affect its normal production and operations, and it will comply with disclosure obligations in a timely manner [3].

Core Points - Liansheng Chemical (301212.SZ) received a warning letter from the Zhejiang Securities Regulatory Bureau due to violations related to the management and use of raised funds [1][2] - The company was found to have purchased financial products with idle raised funds before the authorization period and exceeded the authorized amount [1] - The special reports on the use of raised funds for the first half of 2023, the full year of 2023, the first half of 2024, and the full year of 2024 contained inaccurate disclosures regarding the purchase of large time deposits [1] Regulatory Violations - The company's actions violated the "Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies" and the "Administrative Measures for Information Disclosure of Listed Companies" [2] - Key executives, including the chairman, general manager, former financial director, and board secretary, were held primarily responsible for the violations [2] - The Zhejiang Securities Regulatory Bureau decided to issue warning letters to the company and the related personnel, which will be recorded in the integrity archives of the securities and futures market [2]

Core Viewpoint - The internal reporting system for significant information at Hanhigh Group Co., Ltd. aims to ensure the timely, accurate, and complete disclosure of information that may significantly impact the company's stock and investor decisions, in compliance with relevant laws and regulations [2][3]. Group 1: General Provisions - The internal reporting system is established to facilitate the rapid transmission and effective management of significant information within the company [2]. - The system applies to directors, senior management, and all departments, as well as wholly-owned, controlled, and affiliated subsidiaries [2][3]. Group 2: Scope of Significant Information - Significant information includes matters that may affect the company's stock price, such as board resolutions, major operational changes, significant transactions, and risk matters [3][6]. - Specific reporting thresholds are set, including transactions exceeding 10% of audited annual revenue or net profit, and absolute amounts over 1 million [3][6]. Group 3: Reporting Procedures and Management - Obligated reporters must notify the board secretary upon awareness of significant events, including during negotiations or when submitting matters for board review [6][8]. - Reports must be made in various forms, including written, phone, or electronic communication, and must be submitted within 24 hours of knowledge of significant information [8][9]. Group 4: Responsibilities and Confidentiality - The company emphasizes the responsibility of all departments and subsidiaries to report significant information accurately and timely, with a focus on maintaining confidentiality before public disclosure [10][13]. - The board secretary is responsible for analyzing reports and ensuring compliance with disclosure obligations [9][10].

Group 1 - The core viewpoint of the article is that the stock price of Wushang Group is influenced by multiple factors including industry cycles, market sentiment, and profit expectations [1] - Wushang Group's 2025 semi-annual report was disclosed on August 27, 2025 [1] - The company emphasizes that investors should refer to the disclosed data for accurate information [1]

具体而言，一是部分公告格式正文和备查文件内容重复，校验作用发挥不明显；二是一些备查文件与披 露事项关联度较低，已不具备提交的必要性；三是有的公告格式过繁过细，不利于投资者有效理解。 鉴于此，上交所对现行公告格式指南进行了全面梳理，精简优化格式内容和备查文件的种类、数量，让 上市公司编制公告更轻松，让投资者查阅公告更高效。 上交所表示，下一步，将持续优化信息披露规则，提高上市公司信息披露质量和投资者友好度。 （编辑：夏欣 审核：何莎莎 校对：翟军） 中经记者 孙汝祥 夏欣 北京报道 近日，上交所发布新修订的上市公司公告格式指南和业务办理指南。经测算，规则修订后上市公司备查 文件数量将减少50%以上。 据上交所介绍，本次修订充分吸收了在上市公司大走访中收集到的意见和建议，较大幅度简化报备文 件，精简公告正文，提升公告格式的友好度。 公告格式和报备文件是上市公司信息披露的参照要求和佐证材料。随着上市公司规范运作水平的持续提 升，格式内容冗余和备查文件繁琐问题日渐凸显，客观上增加了上市公司信息披露成本和负担。 ...