每经记者｜赵李南 每经编辑｜文多 路桥信息（BJ837748，股价49.15元，市值37.72亿元）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%。 被厦门证监局责令改正 据路桥信息公告，其于9月25日收到厦门证监局对公司责令改正措施的决定。 厦门证监局在现场检查中发现，路桥信息"与财务报表相关的内部控制存在重大缺陷，2023年度、2024 年度收入利润核算不符合企业会计准则相关规定，导致2023年、2024年年度报告披露的有关财务信息不 真实、不准确"。 厦门证监局明确指出，路桥信息的上述行为违反了《中华人民共和国证券法》和《上市公司信息披露管 理办法》的相关规定。基于此，厦门证监局决定对路桥信息采取责令改正的监督管理措施。 路桥信息特别提示了相关风险，上市公司如出现"财务会计报告存在重大会计差错或者虚假记载，被中 国证监会及其派出机构责令改正，但公司未在要求期限内完成整改，且在公司股票停牌2个月内仍未完 成整改"，则可能被北京证券交易所 ...

9月20日，国晟科技（603778.SH）发布公告称，9月19日收到中国证券监督管理委员会北京监管局出具的《决定书》，国晟科技及回全福、吴君、高飞、姚 麒、张永胜等多名责任人被采取责令改正措施。 公告显示，国晟科技存在多项违规行为，具体包括：国晟科技园林业务收入成本确认不准确，未能及时调整相关收入和成本，导致2022年年报和2023年半年 报、年报的信息披露不准确；国晟科技对外借款未履行审议程序并及时披露，2023年子公司将8750万元对外借款视为工程预付款，未向管理层报告；新增光 伏业务板块的内部控制执行不到位，涉及多个管理环节存在缺陷。 责任人方面，回全福作为国晟科技时任董事长、总经理，吴君作为时任董事长，高飞作为时任总经理，张永胜作为时任财务总监，姚麒作为时任财务总监， 对国晟科技相关违规行为负有主要责任。 鉴于上述违规事实和情节，上交所决定对国晟科技及以上负责人予以监管警示。同时要求国晟科技及董监高人员采取有效措施对相关违规事项进行整改，并 结合决定书指出的违规事项，就信息披露及规范运作中存在的合规隐患进行深入排查，制定针对性的防范措施。 半年报显示，2025年上半年，国晟科技实现营收3.07亿元，实 ...

Core Viewpoint - Guosheng Technology has received regulatory warnings from the Shanghai Stock Exchange due to multiple violations, including inaccurate cost recognition in its landscaping business and failure to follow proper procedures for external loans [1][2]. Group 1: Violations Identified - The company inaccurately recognized costs related to its landscaping business, leading to incorrect disclosures in the 2022 annual report and the 2023 semi-annual report [1]. - A subsidiary of Guosheng Technology treated a loan of 87.5 million yuan as an engineering prepayment without reporting it to the management or following the necessary approval and disclosure procedures [1]. - There were deficiencies in internal controls related to the newly added photovoltaic business, including management of the entire EPC process, supplier qualifications, inventory management, and external loans [1]. Group 2: Responsible Individuals - Key individuals held responsible for the violations include the former Chairman and General Manager, the current Chairman, the former General Manager, and the former Financial Directors, who failed to adhere to relevant regulations and commitments [2]. Group 3: Required Actions and Compliance - The company and its executives are required to take effective measures to rectify the identified violations and conduct a thorough review of compliance risks in information disclosure and operational norms [3]. - Guosheng Technology must submit a rectification report signed by all executives to the exchange within one month of receiving the decision [3]. - The company is mandated to comply with legal regulations and stock exchange rules, ensuring proper disclosure of all significant information [3].

Core Viewpoint - ST HuLuWa Pharmaceutical, once known as "China's top children's medicine brand," is currently facing severe challenges, with significant declines in revenue and profit reported in its 2025 semi-annual report [2][3]. Financial Performance - In the first half of 2025, ST HuLuWa achieved operating revenue of 508 million yuan, a year-on-year decrease of 42.89% [2]. - The net profit attributable to shareholders was 2.41 million yuan, down 94.14% year-on-year, while the net profit after deducting non-recurring gains and losses turned into a loss of 18.78 million yuan, a decline of 514.52% [2]. - The decline in performance is attributed to market demand fluctuations and intensified industry competition, particularly in the sales of respiratory medications [2]. Core Business Challenges - The core business segment of ST HuLuWa has experienced a severe downturn, with respiratory medications generating revenue of 299 million yuan, accounting for 58.86% of total revenue but down 52.91% year-on-year [3]. - Digestive system medications generated 109 million yuan, representing 21.46% of revenue, while systemic anti-infection medications brought in 49.51 million yuan, making up 9.74% of revenue [3]. Expense Structure - Sales expenses decreased significantly to 107 million yuan, down 60.25% year-on-year, accounting for 21.06% of revenue [4]. - Financial expenses increased to 21.07 million yuan, a rise of 77.74% year-on-year, primarily due to interest expenses from loan capitalized after project completion [4]. - R&D expenses were drastically reduced to 19.38 million yuan, down 80.69% year-on-year, attributed to the confirmation of R&D expenses based on progress [4]. Asset Quality - As of June 30, 2025, ST HuLuWa had cash and cash equivalents of 169 million yuan, a decrease of 33.65% from the end of 2024, mainly due to reduced cash receipts from sales [4]. - Accounts receivable increased to 455 million yuan, up 19.71% from the beginning of the period, with longer collection cycles due to the "two-invoice system" policy [5]. Regulatory Issues - ST HuLuWa faces serious challenges beyond performance declines, including issues with financial credibility and internal control deficiencies [6]. - In March 2025, the Hainan Securities Regulatory Bureau issued administrative measures against ST HuLuWa for non-compliance in revenue recognition and pricing, leading to significant adjustments in previously reported profits [6]. - The company adjusted its net profit for 2023 and the first half of 2024 by approximately 95.64 million yuan and 37.66 million yuan, respectively, revealing that much of the previously reported profit was not from genuine business activities [6]. Audit Concerns - In April 2025, the accounting firm Li Xin issued a qualified opinion on ST HuLuWa's 2024 financial report and a negative opinion on its internal control audit [6]. - The audit revealed that the controlling shareholder provided funds to customers through non-employee personal accounts, raising concerns about the collectability of large accounts receivable [6]. - ST HuLuWa purchased eight R&D projects from an affiliated company for 42.05 million yuan, which has ties to the actual controller, raising questions about the commercial rationale and potential financial impact of these transactions [7].

Core Viewpoint - Longjin Technology (300594.SZ) is under investigation by the China Securities Regulatory Commission (CSRC) for information disclosure violations, following an internal control audit that identified deficiencies in financial management and related party transactions [1][3][4]. Financial Performance - For the first half of 2025, Longjin Technology reported revenue of 340 million yuan, a year-on-year decrease of 10.88%. However, the net profit attributable to shareholders was 1.4764 million yuan, a significant increase of 106.77% compared to the previous year [1][9]. - The company achieved a net profit of 300,500 yuan after excluding non-recurring gains and losses, marking a 101.37% year-on-year increase [1][9]. - Longjin Technology had previously incurred losses for three consecutive years, with cumulative losses of 138 million yuan and 151 million yuan for net profit and net profit excluding non-recurring items, respectively [9]. Internal Control Issues - An internal control audit conducted four months prior revealed that Longjin Technology had deficiencies in financial payment approvals, related party transaction decision-making, and information disclosure [1][4]. - The audit report highlighted that the controlling shareholder, Longjin Group, and its subsidiaries had non-operationally occupied funds amounting to 229 million yuan, which have since been fully repaid [1][4][5]. Shareholding and Pledges - As of June 30, 2025, Longjin Group directly held 19.035 million shares of Longjin Technology, accounting for 20.72% of the total share capital, with a pledge rate of 55.69% [2][7]. - Among the shares held by Longjin Group, 10.6 million shares were pledged, and 2.7 million shares were frozen [7]. Market Reaction - Following the announcement of the investigation, Longjin Technology's stock price fell over 14% intraday on August 28, closing down 9.45% at 17.82 yuan per share [4].

Core Viewpoint - Shenzhen Securities Regulatory Bureau has decided to take regulatory talk measures against HNA Futures Co., Ltd. due to multiple internal control deficiencies and violations of regulations [3][4]. Group 1: Regulatory Findings - HNA Futures failed to effectively manage internet marketing activities and supervise internet marketing personnel, leading to inadequate internal controls and incomplete inspection materials [3]. - The company has deficiencies in its asset management business-related systems and lacks essential auditing functions in its office system logs [3]. Group 2: Accountability - Cheng Qingfang, as the Chairman and General Manager, is held responsible for the company's violations due to not fulfilling his duties effectively [3]. - Liu Yanxin, the Chief Risk Officer, did not adequately supervise the company's compliance and risk management, failing to report existing issues [3]. - Zhang Likun, responsible for internet marketing from December 2023 to June 2025, is also held accountable for the violations [4]. - Song Xiaocheng, the Deputy General Manager, failed to manage internet marketing activities effectively [4]. Group 3: Regulatory Actions - Regulatory measures include issuing warning letters to Cheng Qingfang, Liu Yanxin, and Zhang Likun, while Song Xiaocheng will receive a regulatory talk [4].

上述行为违反了《上市公司治理准则（2018年修订）》（证监会公告〔2018〕29号，以下简称《治理准 则》）第七十一条第一款的规定，违反了《企业内部控制应用指引第6号--资金活动》第二十一条第三 款，《企业内部控制应用指引第7号--采购业务》第四条和第十三条第一款、第三款、第四款，《企业 内部控制应用指引第16号--合同管理》第十四条、第十六条的规定。公司董事长刘宪武、财务总监王希 梁，违反了《治理准则》第四条的规定，对上述事项负有主要责任。 登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 大连百傲化学股份有限公司（以下简称"公司"）于2025年8月14日收到中国证券监督管理委员会大连监 管局下发的《关于对大连百傲化学股份有限公司采取责令改正措施并对刘宪武、王希梁采取出具警示函 措施的决定》（行政监管措施〔2025〕16号），现将原文内容公告如下： "大连百傲化学股份有限公司、刘宪武、王希梁: 经查，大连百傲化学股份有限公司(以下简称公司)内部控制存在缺陷。 一是公司及原全资子 ...

Core Viewpoint - The company, Changyuan Technology Group Co., Ltd., is under scrutiny from the Shanghai Stock Exchange regarding its 2024 annual report due to issues related to non-operating fund occupation by related parties, leading to significant internal control deficiencies and accounting errors [1][2][3]. Group 1: Related Party Fund Occupation - The company’s chairman, Wu Qiquan, is linked to Zhuhai Yuntaili Holdings Co., Ltd., which has been identified as occupying company funds through third parties [1][2]. - The annual audit revealed that the auditors could not obtain sufficient evidence to identify all related parties, resulting in a qualified opinion on the financial statements [1][3]. - The company has acknowledged the need to correct accounting errors related to non-operating fund occupation in its financial reports for 2023 and 2024 [1][3]. Group 2: Supplier Information and Financial Data - The company identified seven suppliers involved in fund occupation, detailing their establishment dates, major financial data, and actual controllers [2][3][4]. - For example, Zhuhai Chengbangda has total assets of 261.73 million yuan and a net profit of 5.5 million yuan as of December 31, 2024 [3][4]. - The company has initiated self-inspections and requested confirmations from these suppliers regarding their actual controllers and any potential fund occupation [4][5]. Group 3: Internal Control Deficiencies - The company has recognized significant internal control deficiencies in its fund payment approval and related party transaction processes [1][2][3]. - Contracts and payments related to the identified suppliers were executed without proper authorization, leading to difficulties in detecting fund occupation [1][2][3]. - The company plans to implement corrective measures and hold responsible personnel accountable for these deficiencies [2][3][5]. Group 4: Financial Adjustments and Reporting - The company has made retrospective adjustments to its financial statements for the years 2023 and 2024 to reflect the impact of the identified accounting errors [1][2][3]. - The adjustments include changes to monetary funds, other receivables, and credit impairment losses [1][2][3]. - The company has committed to adhering to accounting standards and ensuring timely disclosures of any further adjustments needed [1][2][3].

Core Viewpoint - Fujian Nachuan Pipe Technology Co., Ltd. faces significant operational uncertainties, leading to a negative internal control audit report and a warning on its stock trading status due to continuous financial losses over the past three years [1][2]. Group 1: Financial Performance - The company's net profit attributable to shareholders for the years 2022, 2023, and 2024 were -421.58 million yuan, -512.93 million yuan, and -307.18 million yuan respectively, indicating persistent financial losses [2]. - The net profit after deducting non-recurring gains and losses for the same years were -411.38 million yuan, -516.85 million yuan, and -264.50 million yuan, showing that all three years had negative net profits [2]. Group 2: Internal Control Issues - The company received a negative opinion on its internal control audit report, highlighting deficiencies in its governance structure and failure to monitor investments effectively, particularly in the case of a partnership that led to investment losses [2][3]. - The company did not timely elect new board members after resignations, resulting in a board composition below the required number as per its articles of association, further exacerbating internal control weaknesses [2]. Group 3: Remedial Actions - The company is taking steps to address the issues raised in the audit report, including enhancing its governance structure by recruiting qualified professionals for key positions [3]. - A specialized management system for monitoring affiliated companies is being developed to mitigate risks associated with investments, with the aim of improving oversight and control [3]. Group 4: Regulatory Compliance - The company is required to disclose progress on the risk warning status at least once a month, detailing the impact of the situation and the measures being taken to resolve it [3][4].

Core Viewpoint - Guangdong Jiaying Pharmaceutical Co., Ltd. is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure, following recent revelations of significant internal control deficiencies [1][2] Group 1: Internal Control Issues - Jiaying Pharmaceutical disclosed internal control deficiencies related to fund management and information disclosure, as highlighted in an audit report by Zhonghua Accounting Firm [2] - The company’s subsidiary, Jiaying Pharmaceutical (Hunan) Co., Ltd., engaged in non-operational fund transfers totaling 235 million yuan, including 170 million yuan to a related party without board approval [2][3] - The company failed to disclose related party transactions amounting to 10.39 million yuan until April 2025, despite these transactions occurring in 2024 [3] Group 2: Shareholder Influence and Management Changes - The internal control issues are linked to the second largest shareholder, Yangtianhe, which acquired a stake in Jiaying Pharmaceutical less than a year ago [4] - Following the acquisition, there have been multiple management changes, including resignations of key executives such as the deputy general manager and financial director [5] - The frequent changes in management may impact the company's daily operations and governance [7] Group 3: Financial Performance - Jiaying Pharmaceutical's revenue declined significantly in 2023 and 2024, with revenues of 533 million yuan and 376 million yuan, representing year-on-year decreases of 19.11% and 29.46% respectively [6] - Despite the decline, the entry of Yangtianhe has reportedly improved the company's channel distribution, leading to a revenue increase of 28.83% in the first quarter of 2025 [6] - The company achieved a net profit of 15.4 million yuan in Q1 2025, a substantial increase of 197.23% year-on-year, attributed to channel expansion and cost management improvements [6]