出品：新浪财经上市公司研究院 文/夏虫工作室 核心观点：白银有色（维权）为何巨额理财资金多年未收回，也未被完整披露，相关资金背后是否涉嫌 利益输送局？与此同时，公司为何频繁出现内控缺陷？无实控人状态的公司是否需要警惕被内部人掏空 风险？ 受有色赛道行情催化，白银有色股价出现异动。 公告显示，白银有色股价于2025年9月30日、2025年10月9日、2025年10月10日连续三个交易日内收盘价 格涨幅累计偏离值超过20%，属于股票交易异常波动。 值得注意的是，白银有色的基本面似乎与股价背道而驰。 登录新浪财经APP 搜索【信披】查看更多考评等级 2025年半年报显示，公司上半年营业收入为445.59亿元，同比下降15.28%；归母净利润为-2.17亿元，同 比下降1859.82%；扣非归母净利润为-1117.25万元，同比下降180.19%；基本每股收益-0.03元。 与此同时，公司内控问题频现，巨额理财到期未收回未完整披露等情况，仿佛公司存在一本未出清 的"烂账"。 股价异动背后的三大风险 白银有色股价异动背后或收益有色赛道行情催化。 有色金属板块近期表现强势，10月9日A股开盘，中证有色指数单日暴涨7.97 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月30日，路桥信息股价大跌，截至中午收盘已跌超5%。值得注意的是，该公司股价年内经历大起大 落，曾在5月末一周暴涨超90%，至6月下旬一度涨至96.88元，较年初的19.42元涨幅近400%。随后震荡 下滑至50元上下。即便如此，该公司年内股价涨幅仍超过130%。 厦门证监局： 公司内控存在重大缺陷 突然"爆雷"！A股公司财报"变脸"：去年净利调减超80%，证监局现场检查，发现公司内控存重大缺 陷！年内股价已涨超130% 路桥信息（BJ837748）近日上演了一场财报"变脸"。 9月29日，路桥信息发布公告称，厦门证监局现场检查发现其与财务报表相关的内部控制存在重大缺 陷。 同日，路桥信息发布公告进行会计差错更正。其中，2024年的调整后净利润降幅高达84.91%。 成整改"，则可能被北京证券交易所实施股票退市风险警示。 路桥信息也表示，公司董事会高度重视厦门证监局指出的问题，进行了全面自查自纠，截至公告披露 日，"已完成自查并作出前期会计差错更正"。 路桥信息还表示："公司将按照监管 ...

Core Points - Dalian Baiao Chemical Co., Ltd. received a corrective action order from Dalian Securities Regulatory Bureau due to internal control issues related to fund management, procurement management, and contract management [1] - The company's chairman Liu Xianwu and financial director Wang Xiliang are primarily responsible for the identified issues and have received warning letters, which will be recorded in their integrity files [1] Summary by Category - **Company Issues** - The company has been found to have significant internal control problems, particularly in areas such as fund management, procurement management, and contract management [1] - **Regulatory Actions** - Dalian Securities Regulatory Bureau has mandated corrective actions for the company and issued warning letters to the chairman and financial director [1] - The actions taken by the regulatory body will be documented in the integrity records of the individuals involved [1]

Core Viewpoint - Oriental Yuhong received warning letters from Beijing Securities Regulatory Bureau and Shenzhen Stock Exchange due to failure to timely disclose non-operating fund occupation by the actual controller and irregular financial accounting practices [1][2] Group 1: Violations - The company has two main violations: non-operating fund occupation by related parties without timely disclosure, amounting to 69.5 million yuan from February 2023 to May 2024 [2] - Irregular financial accounting practices include inaccurate revenue recognition for certain photovoltaic component sales, incorrect timing for project income recognition, and improper accounting for intermediary fees and debt restructuring [2] Group 2: Company Response - The company acknowledged the issues and emphasized the importance of internal control improvements, stating that it will strictly adhere to the requirements of the warning letters and enhance financial accounting quality [2] - Specific measures to strengthen internal controls include improving the internal supervision mechanism, refining fund management processes, and enhancing execution to prevent similar issues in the future [2]

Core Viewpoint - Tianye Co., Ltd. has faced disciplinary action from the Beijing Stock Exchange due to significant discrepancies in its financial disclosures, which have raised concerns about its internal controls and compliance with regulations [1][5][6]. Financial Discrepancies - The company revised its net profit from 28.59 million yuan to 9.65 million yuan, a substantial correction that was not timely disclosed [3][4]. - The total profit was adjusted from 34.08 million yuan to 14.21 million yuan, indicating a lack of transparency in financial reporting [4][5]. Regulatory Violations - Tianye Co., Ltd. failed to issue a performance forecast, violating the Beijing Stock Exchange's rules that require separate disclosure of corrections when financial data discrepancies exceed 20% [5]. - The company and its executives, including Chairman Yao Jiuzhi and CFO Zhang Xiongbin, received a public reprimand and were recorded in the integrity archives of the securities market [5]. Internal Control Issues - The company has a history of internal control deficiencies, with a recent audit report expressing an inability to provide an opinion on its internal controls [6]. - In response to these issues, the company has announced plans to enhance its internal controls and has expressed a commitment to improving its governance practices [9]. Management and Governance - The company's General Manager, Dan Shan, is under investigation for alleged insider trading, which further complicates the company's governance challenges [7]. - Tianye Co., Ltd. has acknowledged the need for improvement in its internal control systems and is taking steps to address these deficiencies by hiring additional talent and engaging external consultants [9].

Core Points - The company "Huluwa" will be suspended for one day on April 29 and will resume trading on April 30 with a risk warning, changing its stock name to ST Huluwa, with a daily price fluctuation limit of 5% [2][3] - The company reported a net profit of -274 million yuan for the fiscal year 2024, a year-on-year decrease of 2629.23% [2][12] - The new general manager, Zhang Mingrui, resigned after less than two months in office due to personal reasons [7][9] Financial Performance - For the fiscal year 2024, Huluwa's revenue was 1.414 billion yuan, a year-on-year decrease of 21.26% [12] - In the first quarter of 2025, Huluwa's revenue was 337 million yuan, a year-on-year decrease of 28.42%, with a net profit of 24.35 million yuan, down 11.23% [14][15] - The company faced significant operational challenges, including a change in sales models for some customers, leading to a decline in sales revenue [12][14] Audit and Compliance Issues - The auditing firm issued a qualified opinion on Huluwa's 2024 financial report, citing deficiencies in internal controls and the inability to obtain sufficient audit evidence regarding the restatement of the 2023 financial report [5][6] - The internal control audit report received a negative opinion, indicating major deficiencies in financial reporting controls, particularly related to significant transaction approvals [6][12] - The company was required by the Hainan Securities Regulatory Bureau to restate its 2023 financial report, highlighting ongoing compliance issues [5][6]