他认为，应强化信息披露真实性，筑牢市场信任根基。"监管机构可以进一步细化信息披露规则，要求 上市公司不仅披露结果，更要清晰阐述重大决策的背景、过程、风险及对未来发展的影响，减少信息不 对称。"他说。 王鹏飞认为，破局的关键在于优化激励机制，将考核重点从短期规模保有量转向长期投资回报，建立长 效绩效考核机制，以激励基金经理聚焦长期价值创造。"金融机构对管理人的激励机制，应该看重长期 的、稳健的投资效率，将激励机制与历史平均回报率、最大回撤等指标绑定，而不是每年的排名和回报 率。" 同时，王鹏飞认为，投资者教育至关重要。"投资者应该理解，过去高回报不代表未来持续高收益。买 基金时，销售平台展示的近一年高收益基金未必能全面反映管理能力。" 王鹏飞认为，应以强化金融基础设施为重心，全面提升A股上市公司质量。"推动A股市场从高速发展转 向高质量发展，已成为市场各方的共识。上市公司作为市场的基石，其整体质量的提升是决定性的一 环。"王鹏飞表示，提升上市公司质量是一项涉及市场文化、制度规则、执行监督的系统性工程。 登录新浪财经APP 搜索【信披】查看更多考评等级 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 唐燕 ...

Core Viewpoint - The company confirmed that the information disclosed in its quarterly report is accurate and that there are no significant negative disclosures that should have been made but were not [2] Summary by Relevant Sections - Company Disclosure - The company stated that the quarterly report and other disclosed information are truthful [2] - There are no undisclosed major negative information that could impact investors [2]

Core Viewpoint - Four listed companies, including Juewei Foods, received risk warnings due to financial fraud, marking a record for recent ST implementations in the A-share market. Juewei Foods stands out for underreporting income rather than inflating it, raising questions about its compliance and operational practices [3][4][5]. Group 1: Financial Misconduct - Juewei Foods failed to recognize income from franchise store renovation from 2017 to 2021, leading to understated annual revenue by 5.48%, 3.79%, 2.20%, 2.39%, and 1.64% respectively, potentially hiding billions in revenue [3][6][8]. - The company's former CFO arranged for employees to use personal bank accounts for transactions, indicating a significant deviation from standard accounting practices [4][7]. - Regulatory actions included a fine of 4 million yuan for Juewei Foods and penalties for key executives, reflecting a shift in regulatory scrutiny towards all forms of financial misrepresentation [5][9]. Group 2: Regulatory Environment - The rapid imposition of ST labels on companies for financial discrepancies signals a stringent regulatory environment where any form of financial misrepresentation is met with severe consequences [5][10]. - The case illustrates a zero-tolerance approach by the China Securities Regulatory Commission (CSRC) towards fraudulent activities, emphasizing the importance of truthful financial disclosures [5][16]. Group 3: Market Implications - The ST designation for Juewei Foods has created a divide among investors, with some viewing it as a potential opportunity for recovery while others remain cautious due to underlying business challenges [10][12]. - Despite being the market leader in revenue, Juewei Foods has experienced significant declines in sales and profitability, raising concerns about its long-term viability [10][13][14]. - The company's marketing expenditures have increased significantly without reversing declining sales, indicating inefficiencies in its current strategy [11][15]. Group 4: Industry Context - The renovation business within the franchise model is a common practice in the industry, often leading to hidden profits, which Juewei Foods' case has brought to light [6][9]. - The competitive landscape is intensifying, with rivals like Zhou Hei Ya and Huang Shang Huang gaining ground, further complicating Juewei's recovery prospects [12][14]. - The overall decline in the franchise system and single-store profitability poses systemic risks to Juewei Foods, highlighting the need for strategic reevaluation [16][17].