上市后业绩持续下滑，部分募投项目延期 元道通信（301139.SZ）涉财务造假正在被证监会立案调查，并存在强制退市风险。 7月11日，元道通信发布公告称，因公司涉嫌年报等信息披露文件财务数据存在虚假记载等违法行为， 证监会决定对其立案。若后续行政处罚认定的事实触及重大违法强制退市情形，该公司股票将被强制退 市。 上市以来，元道通信业绩持续下滑，2024年审计报告被出具"保留意见"，此外该公司还存在部分募投项 目延期、股价长期破发等情况。 在业内人士看来，该公司涉嫌信息披露违法，可能存在退市风险，投资者应当充分关注投资风险，谨慎 投资。 2025年一季度，该公司业绩仍未实现正增长，一季度营业收入3.07亿元，同比下降26.78%；归母净利润 为1063.6万元，同比下降47.67%。 对于2024年业绩下滑原因，元道通信此前披露，下降主要由于公司主动优化业务结构，减少低效益项 目；运营商投资方向调整导致传统通信工程建设需求减少；新兴业务尚处于投入期，尚未完全贡献利 润；财务费用因新增融资渠道增加；政府补助减少等。 在业绩持续下滑的同时，因公司被识别出内部控制存在缺陷、应收款项坏账准备计提可能存在问题，元 道通信 ...

公司竭力将业绩下滑归咎于"行业竞争加剧""成本上升"等理由，但字里行间暴露出的核心硬伤无法掩饰——在印制电路板（PCB）行业向高多层板（8层以 上）加速迭代的关键窗口期严重掉队。 与此同时，随着上交所进一步追问，揭开了骏亚科技的多重困境：海外大客户订单锐减，溢价并购标的反噬利润，关键募投项目延期四年，投入进度刚过 半，前景黯淡。 业绩三连降暴露高多层板"瘸腿" 骏亚科技成立于2005年，公司主要专注于印制电路板制造，重点布局光伏/车载PCB及FPC等产品，于2017年主板上市。 2021年是公司关键转折点。此前其多年保持两位数增长的势头，不过在2022年全球消费电子寒冬突袭下戛然而止。数据显示，2022年至2024年公司分别实现 营业收入25.73亿元、24.27亿元、23.47亿元，归母净利润分别为1.63亿元、0.69亿元、-1.54亿元，营收、净利润连续三年下降且2024年出现亏损。 与此同时，期内毛利率更是惨遭"腰斩"，从18.63%断崖式跌至9.30%，大幅下降9.33个百分点。公司核心产品PCB（2024年占比88.64%）营收，也从2022年 的23.40亿元下滑至2024年的20.81亿元。 ...

Core Viewpoint - The company has faced multiple delays in its fundraising project due to various market and economic factors, leading to a cautious approach in capital investment and project implementation [1][2][3] Group 1: Fundraising Project Delays - The company raised a net amount of 184 million RMB from a non-public stock issuance in 2020, intended for an 800,000 square meter smart interconnected high-precision circuit board project, which has been delayed multiple times, now expected to complete by December 2025 [1] - The project has seen a total investment of 23 million RMB in 2024, with 65 million RMB of the raised funds still unreturned as of May 2024 [1] - The company’s monetary funds and long-term borrowings totaled 518 million RMB by the end of 2024 [1] Group 2: Market Environment and Business Development - The consumer electronics market saw a decline of 2.37% in 2023, with a projected compound annual growth rate (CAGR) of only 2.25% from 2023 to 2028, significantly lower than the global electronics CAGR of 5.7% [2] - The company’s products are primarily used in consumer electronics and renewable energy sectors, facing intense competition and longer product certification cycles [2][3] - The company has been cautious in capital investments since Q4 2021, slowing down project implementation to mitigate adverse impacts on performance due to market conditions [3] Group 3: Financial Performance - The company reported a revenue of 234.72 million RMB in 2024, down 3.30% year-on-year, with a net loss of 15.44 million RMB, a significant decline of 325.20% compared to the previous year [5] - The company’s performance has been under pressure due to macroeconomic factors, leading to a cautious approach in project funding and execution [5][6] Group 4: Fund Utilization and Compliance - The company has utilized part of the raised funds for temporary working capital, with a total of 160 million RMB returned to the special account by the end of 2023 [10][12] - The company has ensured that the use of funds complies with regulations, with no evidence of misappropriation or violation of fund usage rules [14]

核查意见 华泰联合证券有限责任公司 关于东鹏饮料（集团）股份有限公司 部分募投项目延期的核查意见 根据《证券发行上市保荐业务管理办法》、 截至期 | 末 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 承诺投资项 | 募集资金专户 | | 项目投资总 | | 已累计投入 | | | 募 | 截至期末 | | | | | | | | 序号 | | | 账号 | | | | 募 | | 集资金 | | | | | | | | | | 目 | 开户行 | | 额 | 集资金总额 | | 投入进 | | 度 | | | | | | | | | | | | | | | | 余额 | | | | 招商银行股份 | | | | | | | | 华南生产基 | | | | | | | | | 地建设项目 | | | | | | | | | | 中央商务支行 | | | | | | | | 重庆西彭生 | 招商银行股份 | | | | | | | 项目 | | 中央商务支行 | | | | | | | | 南宁生产基 | 中国建设银行 ...

北京商报讯（记者郭秀娟实习记者王悦彤） 6月30日，一致魔芋发布公告称，公司拟变更部分募集资金 用途及募投项目延期。具体来看，公司将"魔芋精深加工智能制造生产线改扩建技改项目"原计划使用募 集资金投资金额10104.89万元，变更为使用募集资金投资金额9135.87万元，并将变更部分募集资金 2600.00万元用于建设亲水胶体产业园技改扩暨数字转型项目（一期）。 公告显示，"魔芋精深加工智能制造生产线改扩建技改项目"系公司于2022年结合当时的市场环境、行业 发展趋势及公司实际情况等因素制定。在募投项目实施过程中，公司遵守募集资金使用的有关规定，从 项目的实际情况出发，在不影响募投项目顺利实施的前提下，本着适用、合理、有效的原则建设募投项 目，审慎使用募集资金、控制项目预算及成本、有效利用各种资源，合理地节约了部分募集资金。截至 2025年5月31日，该项目土建、设备等基础建设已完成。 此外，公司拟将"魔芋精深加工智能制造生产线改扩建技改项目"延长至2025年12月。由于魔芋行业特殊 性，国内鲜魔芋上市及原材料采购主要集中在第四季度，因此，公司将在延期期间使用铺底流动资金购 买该项目生产所需原材料，以实现尽快 ...

壹石通于2022年7月26日获得中国证券监督管理委员会的批复，同意公司向特定对象发行人民币普通股股票（A股）17,610,850股，募集资金 总额为人民币950,985,900元，扣除发行费用后实际募集资金净额为人民币929,804,701.21元。募集资金主要用于"年产15,000吨电子功能粉体材 料建设项目"、"年产20,000吨锂电池涂覆用勃姆石建设项目"、"技术研发中心建设项目"及补充流动资金。 "年产15,000吨电子功能粉体材料建设项目"中的子项目重庆基地"年产9,800吨导热用球形氧化铝项目"进行了工艺优化升级，并涉及相关行政 审批手续的调整。截至目前，该子项目已完成生产线主体建设，但工艺优化升级所需的部分辅助设备仍在推进落地过程中。同时，相关行政 审批手续的办理周期较长，导致项目实施进度有所延缓。基于上述原因，公司决定将该项目达到预定可使用状态的日期调整为2025年9月。 壹石通表示，本次部分募投项目延期仅涉及项目进度的变化，未改变募投项目的投资内容、投资总额、实施主体，不会对募投项目的实施造 成实质性影响。本次延期不存在改变或变相改变募集资金投向和其他损害股东利益的情形，不会对公司的正常经营 ...

国泰海通证券股份有限公司 关于采纳科技股份有限公司 部分募投项目再次延期的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通证券"或"保荐机构"） 作为采纳科技股份有限公司（以下简称"采纳股份"或"公司"）首次公开发行 股票并在创业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上 市公司募集资金监管规则》 《深圳证券交易所创业板股票上市规则》 《深圳证券交 ，公司获准向社会公开发行人民币 普通股（A股）股票2,350.88万股，每股面值人民币1.00元，发行价格为人民币50.31 元/股，募集资金总额为人民币1,182,727,728.00元，扣除各项发行费用人民币 超募资金总额为人民币693,369,702.40元。 公司与保荐机构、存放募集资金的银行签署了《募集资金专户存储三方监管 协议》，共同监管募集资金的使用。中汇会计师事务所（特殊普通合伙）对公司 首次公开发行股票募集资金到位情况进行了审验，并出具了"中汇会验 20220084号"的验资报告。 二、募集资金使用情况 根据公司《首次公开发行股票并在创业板上市招股说明书》披露，公司本次 公开发行股票募集资金投资项目及募集资金使用计划及截至2 ...

Core Viewpoint - The company has decided to terminate part of its fundraising projects and delay others, based on a careful assessment of the current market conditions and project progress, ensuring that these decisions align with the long-term interests of the company and its shareholders [1][10]. Fundraising Overview - The company raised a net amount of RMB 1,002,572,682.71 through its initial public offering, verified by an accounting firm [1]. - The company has established a management system for the use of raised funds, ensuring that funds are stored in dedicated accounts and used strictly for their intended purposes [2]. Termination of Fundraising Projects - The project "Zihang Medical Device Component Intelligent Manufacturing and Expansion Project" will be terminated, with the total investment amount reduced from RMB 282.84 million to RMB 143.47 million, and the fundraising investment amount decreased from RMB 282.84 million to RMB 135.77 million [3]. - The termination is influenced by changes in market demand and increased competition, leading to a reassessment of the project's viability [6][7]. Reasons for Project Termination - The implementation of centralized procurement policies has created volatility in market demand, affecting the sales cycle and capacity planning for the project [6]. - The existing production capacity is deemed sufficient to meet current demand, and further investment could lead to idle capacity risks [7]. Impact of Project Termination - The termination is expected to enhance the efficiency of fundraising usage and will not adversely affect the company's normal operations or shareholder interests [8]. - The remaining funds from the terminated project will be retained in dedicated accounts for future investment opportunities [8]. Delay of Fundraising Projects - The "Weike Medical Minimally Invasive Surgical New Product Project" will be delayed, with the expected completion date pushed from June 30, 2025, to December 31, 2027 [9]. - The delay is attributed to changes in market conditions and the need for further product development to meet diverse customer needs [9]. Reasons for Project Delay - The company is adapting to market changes and enhancing product features through increased R&D investment, which has necessitated a phased approach to project implementation [9]. - The execution of procurement policies has affected the expected market release timeline for the company's products [9]. Impact of Project Delay - The delay is a strategic decision that does not involve changes to the project’s implementation structure or total investment, ensuring that it aligns with the company's long-term development goals [9][10].

Core Viewpoint - The company, Hengguang Co., Ltd., is experiencing a slowdown in the construction progress of its fundraising projects due to the low industry prosperity cycle, leading to a delay in the completion of its 55,000-ton fine chemical new materials production line project from June 30, 2025, to December 31, 2026 [1] Group 1: Project Updates - The 55,000-ton fine chemical new materials production line project includes two sub-projects: a 5,000-ton 2-ethyl anthraquinone production line and a 50,000-ton sodium chlorite production line [2] - The company has completed the technical optimization of the 5,000-ton 2-ethyl anthraquinone production line, but achieving full production will take additional time [2] - Due to the complex market environment and macroeconomic conditions, the company has decided to suspend the investment in the 50,000-ton sodium chlorite production line [2] Group 2: Financial Performance - Since its IPO, Hengguang Co., Ltd. has invested a total of 3.43 billion yuan in its fundraising projects, with an overall investment progress of 60.57% as of May 2025 [1] - The company reported revenues of 933 million yuan, 1.08 billion yuan, 936 million yuan, and 1.235 billion yuan from 2021 to 2024, with net profits of 242 million yuan, 202 million yuan, -37.55 million yuan, and -60.93 million yuan respectively [2] - The company has incurred losses for two consecutive years in 2023 and 2024, totaling approximately 98.48 million yuan [2] Group 3: Reasons for Losses - The company attributes its losses in 2024 to four main factors: low product gross margins, high fixed costs due to increased production capacity, rising energy prices post-market reform, and asset impairment provisions [3] - The gross margin for the company's main business was 8.05% in 2024, a decrease of 1.58 percentage points year-on-year [3] - The gross margins for the chlor-alkali and sulfur chemical product chains were 9.69% and 3.02%, reflecting changes of 3.13 and -12.93 percentage points respectively [3]

西部证券股份有限公司 关于湖南恒光科技股份有限公司部分募投项目 延期的核查意见 深圳证券交易所： 西部证券股份有限公司（以下简称"西部证券"、"保荐人"）作为湖南恒 光科技股份有限公司（以下简称"恒光股份"、"公司"）首次公开发行股票并 在创业板上市的保荐人，根据《证券发行上市保荐业务管理办法（2025 修正）》 《深圳证券交易所创业板股票上市规则（2025 年修订）》《深圳证券交易所上市 公司自律监管指引第 2 号——创业板上市公司规范运作（2025 年修订）》《上市 公司募集资金监管规则》等相关规定，对恒光股份部分募投项目延期的事项进行 了审慎核查，核查情况及核查意见如下： 一、首次公开发行股票募集资金基本情况 经中国证券监督管理委员会《关于同意湖南恒光科技股份有限公司首次公开 发行股票注册的批复》（证监许可20213257 号）同意注册，公司首次公开发行 人民币普通股（A 股）股票 2,667 万股,每股面值 1.00 元，发行价格为 22.70 元/ 股，募集资金总额为人民币 605,409,000.00 元，扣除相关发行费用后实际募集资 金净额为人民币 540,808,306.61 元。 上述募集资 ...