Core Viewpoint - Dongfang Securities and related personnel received a warning letter from the Beijing Stock Exchange for failing to perform due diligence responsibilities [2][3]. Group 1: Regulatory Actions - On September 26, 2025, Dongfang Securities and related personnel were issued a warning letter due to negligence in their duties [3]. - In April 2024, Dongfang Securities and two project sponsors received written warnings from the Shenzhen Stock Exchange for not ensuring timely disclosure of relevant merger information by the listed company Robotech [4]. - The China Securities Association's classification list in June 2024 showed that two representatives from Dongfang Securities were subjected to self-regulatory measures by the Beijing Stock Exchange, although specific reasons were not disclosed [4]. Group 2: Business Developments - In 2024, Dongfang Securities completed the merger with its investment banking subsidiary, Dongfang Securities Underwriting and Sponsorship Co., which resulted in the transfer of all existing clients and business operations to Dongfang Securities [4]. - Dapeng Industrial, a company sponsored by Dongfang Securities, faced multiple challenges in its IPO journey, including a change in sponsorship and delays due to issues with its accounting firm [5]. - The Beijing Stock Exchange has implemented stricter regulations for IPO approvals, emphasizing the responsibility of intermediary institutions to ensure compliance [5]. Group 3: Industry Context - The Beijing Stock Exchange has established a rigorous regulatory framework since its inception, focusing on key individuals and events to promote the standardized operation of listed companies and enhance the stability of the multi-tiered capital market [5].

从严监管为市场"定心提气" 不同于安必平股东高位违规套现，久量股份股东、前任董事郭子龙则是因违反"减持价格不低于发行 价"承诺，而构成违规减持。 据查询，5月9日，郭子龙通过集中竞价方式累计减持久量股份78.13万股，成交均价10.75元/股，成交金 额839.9万元。此次减持价格低于久量股份首次公开发行的发行价11.04元/股。郭子龙此前曾承诺："如 本人在承诺锁定期满后两年内减持所持有的公司股份的，减持价格不低于本次发行的发行价。" 减持行为发生在被立案调查期间或被行政处罚6个月内，也将构成违规减持。今年3月，汤姆猫持股5% 以上股东王健因质押股份融资违约，被相关债权人以集中竞价交易方式减持196万股，涉及金额1219万 元。而在减持前约1个月，王健刚因内幕交易被行政处罚300万元。深交所由此下发监管函，要求其充分 重视上述问题，吸取教训，及时整改，杜绝上述问题再次发生。 上海国家会计学院金融系主任叶小杰向记者表示，违规减持行为屡禁不止，可以从客观优势和主观动机 两个方面来看。一方面，大股东、董监高作为关键少数，通常掌握信息优势。例如，在定期报告或其他 重大事件披露之前，他们是最早接触到相关信息的，因此在 ...