Core Viewpoint - The Beijing Stock Exchange has imposed disciplinary actions on Hebei Meibang Engineering Technology Co., Ltd. due to serious violations in performance information disclosure, particularly a significant discrepancy in the company's profit forecasts for 2024 [1][2]. Summary by Sections Disciplinary Actions - The Beijing Stock Exchange issued a public reprimand to Meibang Technology and its main responsible persons, which will be recorded in the integrity archives of the securities and futures market [1][2]. - The disciplinary action was prompted by a drastic change in the company's profit forecast for 2024, where the initially projected net profit of 4 million to 6 million yuan was later reported as a loss of approximately 3.45 million yuan [1][2]. Performance Forecast Discrepancies - Meibang Technology's performance forecast was revised multiple times, with the final audited report showing a significant loss, indicating a change from profit to loss [1][2]. - The company attributed the drastic change to the impairment provision of 28.29 million yuan due to the shutdown of its subsidiary, Ningxia Meibang Huanyu Chemical Co., Ltd. [2]. Regulatory Concerns - The article emphasizes that merely imposing disciplinary actions at the exchange level is insufficient for addressing the serious nature of the discrepancies in performance forecasts [3][5]. - It argues that the regulatory response should extend beyond the exchange's actions to include legal accountability for misleading disclosures that could harm investors [5][6]. Legal Implications - According to the Securities Law, if the disclosed information contains false records or misleading statements, the responsible parties may face fines ranging from 1 million to 10 million yuan, and direct responsible personnel may also face fines [6]. - Investors misled by the company's disclosures may seek compensation or file lawsuits against Meibang Technology and its responsible persons, contingent upon regulatory penalties being issued [6][7].