Core Viewpoint - The company has disclosed the results of a share reduction plan executed by a major shareholder, Shanghai Jiuyi Private Fund Management Co., Ltd., which has completed the reduction of 2,200,000 shares, representing 1.3961% of the total share capital [2][3]. Group 1: Shareholder Reduction - Prior to the reduction plan, Shanghai Jiuyi held 10,000,000 shares, accounting for 6.35% of the company's total share capital [2]. - The reduction plan was announced on October 31, 2025, with a maximum reduction of 2,200,000 shares [2]. - The actual reduction was completed as planned, with no discrepancies reported between the actual and planned reductions [5]. Group 2: Regulatory Warning and Rectification - The company received a warning from the Guangdong Securities Regulatory Bureau on December 12, 2025, regarding inaccuracies in revenue accounting for customized computing server business for 2023 and the first three quarters of 2024 [6][7]. - The company has implemented several corrective measures, including correcting prior financial statements, clarifying revenue recognition policies, and enhancing internal controls [8]. - The board has emphasized the importance of compliance with regulations and has conducted internal training to improve operational standards and disclosure quality [9][10].

Core Viewpoint - Shenzhen Securities Regulatory Bureau has identified four issues with the company "全新好" related to financial accounting, information disclosure, internal control, and corporate governance [2][6]. Group 1: Financial Accounting Issues - The company failed to consider the impact of rent-free periods in its financial accounting for its rental business from 2022 to 2024 [5]. - Revenue recognition for external sales did not align with disclosure policies and included cross-period situations [5]. - Revenue recognition for the external sales of disinfectant wipes was not compliant with accounting standards [5]. Group 2: Information Disclosure Issues - The company misclassified disinfectant wipes and other daily necessities, leading to incorrect revenue disclosures in the annual reports for 2023 and 2024 [5]. Group 3: Internal Control Issues - The company exhibited inadequate control over its subsidiary, Jiangmen Duheng Paper Technology Co., Ltd., which does not comply with internal control guidelines [5]. Group 4: Corporate Governance Issues - The company failed to sign contracts with some directors and did not timely revise its insider information management system [5]. - There was a lack of proper documentation for insider information personnel, and these individuals did not confirm their records [5]. Group 5: Regulatory Actions - The Shenzhen Securities Regulatory Bureau has mandated corrective measures for the company and issued warning letters to key personnel, including the current and former chairpersons and general managers [7]. - The company is required to submit a written rectification report within 30 days of receiving the regulatory decision [7]. - The company must enhance the professional level of its financial personnel and improve its governance and internal control systems [8].

Core Viewpoint - Shenzhen Securities Regulatory Bureau issued an administrative regulatory decision recognizing four issues with the company, involving financial accounting, information disclosure, internal control, and corporate governance [2][6]. Group 1: Financial Accounting Issues - The company failed to consider the impact of rent-free periods in its financial accounting for its housing leasing business from 2022 to 2024 [7]. - Revenue recognition timing for external sales did not align with disclosure policies and included cross-period situations [7]. - Revenue recognition for the external sales of disinfectant wipes was not compliant with accounting standards [7]. Group 2: Information Disclosure Issues - The company incorrectly classified disinfectant wipes and other daily necessities, leading to errors in revenue disclosure for the years 2023 and 2024 [7]. Group 3: Internal Control Issues - The company exhibited inadequate control over its subsidiary, Jiangmen Duheng Paper Technology Co., Ltd., which does not comply with internal control guidelines [7]. Group 4: Corporate Governance Issues - The company failed to sign contracts with some directors and did not timely revise its insider information management system, leading to non-compliance with regulations [7]. Group 5: Regulatory Measures - The Shenzhen Securities Regulatory Bureau decided to impose corrective measures on the company and issued warning letters to key personnel, including the current and former chairpersons and general managers [9]. - The company is required to submit a written rectification report within 30 days and must enhance the training of its board and senior management on securities laws and regulations [9][10].