Core Viewpoint - Lifan Technology (300344.SZ) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure in its periodic reports, leading to a significant impact on its stock status [1][2]. Group 1: Investigation and Regulatory Actions - On April 28, 2025, Lifan Technology was formally investigated by the CSRC, which issued a notice of investigation due to alleged violations in information disclosure [1]. - Following the issuance of a negative internal control audit report by Zhongxing Caiguanghua Accounting Firm, the company announced a one-day suspension of its stock on April 29, 2025, and was subsequently placed under other risk warnings, changing its stock name to "ST Lifan (Rights Protection)" [1]. - The investigation was triggered by improper revenue recognition practices, leading to a correction in accounting methods for hardware trade business revenue from "gross method" to "net method," resulting in revenue reductions of 21.02 million, 32.41 million, and 3 million for the years 2021, 2022, and 2023, respectively [1]. Group 2: Financial Performance and Internal Control Issues - Lifan Technology has received two regulatory attention letters from the Anhui Securities Regulatory Bureau in 2024, highlighting issues such as non-compliance in accounting practices and significant stock price fluctuations [2]. - The company reported a revenue of 259 million in 2024, reflecting a year-on-year growth of 37.45%, but recorded a net loss attributable to shareholders of 125 million, remaining stable compared to the previous year [2]. - Cumulatively, from 2022 to 2024, Lifan Technology has incurred losses totaling 392 million [2]. - The internal control deficiencies primarily relate to financial reporting, including flaws in the accounting information system and risk management controls, emphasizing the need for comprehensive self-assessment and internal audit mechanisms [3].

Core Viewpoint - The financial report of Muban Gaoke for 2024 has been issued with an unqualified audit opinion with emphasis on matters and a negative opinion on internal control audit, indicating significant deficiencies in financial authenticity, internal control, and information disclosure [1] Financial and Audit Issues - Abnormal transactions and revenue recognition disputes have arisen from the cancellation of a 240 million yuan sales contract with Gansu Chao Xun, leading to a revenue decrease of 198 million yuan and a net profit decrease of 51.2 million yuan for the first three quarters of 2024 [2] - The company reported a non-recurring net profit loss of 1.407 billion yuan for 2024, primarily due to overcapacity in the photovoltaic industry and declining silicon wafer prices, with accounts payable and notes reaching 880 million yuan, while accounts receivable were only 138 million yuan, indicating a heavy reliance on delaying payments to suppliers [3][4] - The audit firm, Dahua, issued an unqualified opinion but highlighted significant uncertainties related to the company's ability to continue as a going concern, raising concerns about its debt repayment capacity [5] Internal Control Deficiencies and Historical Violations - Systemic internal control failures were identified, including significant deficiencies in customer management, revenue recognition, fundraising management, supplier management, and related party transactions, with violations in the use of raised funds amounting to 219 million yuan [6] - Historical issues have not been rectified, as the Jiangxi Securities Regulatory Bureau had previously mandated corrections related to corporate governance, information disclosure, and financial accounting, yet similar issues persisted in 2024, indicating a lack of effective remediation [8]

北京中天华茂会计师事务所（普通合伙） 关于深圳证券交易所对美尚生态景观股份有限公司 中天华茂核字【2023】004 号 深圳证券交易所创业板公司管理部： 针对贵部于 2023 年 1 月 31 日向美尚生态景观股份有限公司（以下简称"美 尚生态"或"公司"）下发的《关于对美尚生态景观股份有限公司的关注函》（创 业板关注函[2023]第 41 号）（以下简称"《关注函》"）中提到的需要会计师发表 意见的问题，我们对美尚生态相关资料、数据进行了认真核实，现回复如下： 2023 年 1 月 20 日，江苏证监局出具的《江苏证监局关于对北京中天华茂 会计师事务所（普通合伙）及张清、常媛媛采取出具警示函措施的决定》（以 下简称《警示函》）显示，江苏证监局对北京中天华茂会计师事务所（普通合 伙）（以下简称"中天华茂"）、张清、常媛媛执业的美尚生态景观股份有限公 司（以下简称"公司"）2021 年财务报表审计和内部控制审计项目进行了检查， 发现中天华茂、张清、常媛媛在执业过程中存在风险评估程序流于形式、内部 控制审计程序存在缺陷、实质性审计程序存在缺陷、审计意见不恰当等问题。 中天华茂、张清、常媛媛在营业收入、应收款项、合 ...