Core Viewpoint - *ST Haihua has received a regulatory letter from the Shanghai Stock Exchange regarding its 2025 performance forecast, focusing on the sudden resignation of its auditing firm and significant revenue growth in the fourth quarter [1][2] Group 1: Audit Firm Resignation - The company appointed Pengsheng Accounting Firm as its annual auditing agency on December 31, 2025, but the firm resigned just one month later [1] - The Shanghai Stock Exchange has requested clarification on the reasons for the resignation, any significant disagreements during the audit process, and whether there were any undisclosed major changes [1] - The company is required to promptly hire a new auditing firm to ensure timely disclosure of its annual report and avoid delisting risks [1] Group 2: Revenue Growth Inquiry - The company reported a significant increase in revenue for the fourth quarter, projecting total annual revenue of approximately 336 million yuan, with 140 million yuan generated in the fourth quarter [2] - This revenue growth is attributed to a newly acquired gas business subsidiary and a mechanical parts subsidiary established in Hunan in August 2025 [2] - The Shanghai Stock Exchange has requested additional disclosures regarding the specific customers and suppliers involved in these two businesses, transaction details, cash flow, and contract performance evidence to ensure compliance in revenue recognition [2] - There is particular scrutiny on Hunan Qingye Company, which generated 24.33 million yuan in revenue within just four months of establishment, questioning the stability of its business model and whether this revenue should be excluded [2]

Core Viewpoint - The announcement by Lufax Holdings regarding the extension of the submission deadline for the 2024 Form 20-F to April 30, 2026, is primarily driven by the objective need for audit work, reflecting the company's commitment to ensuring the quality and accuracy of its financial reporting [1][3][8]. Audit Delay - The delay in the annual report submission is attributed to the change in the auditing firm, with Ernst & Young appointed as the new auditor on June 25 this year, necessitating a comprehensive audit covering three full years from 2022 to 2024 [3][8]. - The management has expressed full cooperation in completing all necessary procedures, and the extension request has been approved by the New York Stock Exchange [3][8]. Business Performance - Lufax Holdings reported significant growth in key operational metrics for Q3 2025, with total new loans amounting to 56.9 billion, a year-on-year increase of 12.8%, and consumer finance loans reaching 31.7 billion, up 20.1% [5][8]. - The number of borrowers increased from approximately 24.8 million to 28.5 million, reflecting a growth rate of 15.3%, indicating a solid foundation for long-term business growth [5][8]. Risk Management and Governance - The resignation of the former Chief Risk Officer is a normal personnel change, with the new Chief Risk Officer bringing extensive experience in risk management from various financial institutions [6][8]. - The company has implemented measures to enhance its internal control processes, including optimizing the board structure and establishing internal control enhancement committees, which will strengthen its risk management capabilities [6][8]. Conclusion - Overall, the delay in the annual report is a compliance measure due to audit requirements rather than a signal of operational risk, with robust growth in core business and improvements in risk management indicating a solid operational foundation [8][9].

文/梧桐小新 2月14日晚，浙江证监局发布《关于对天健会计师事务所（特殊普通合伙） 及相关人员采取出具警示函措施的决定》。 浙江证监局 牵头对天健所开展合规性检 查，并对部分审计项目进行执业质量检查。 经查， 天健 在内部治理、质量控制体系、独立性管理、项目执业质量方面均存在问题： 1、内部治理方面： 一是合伙人委派、轮换等部分内部制度建设及执行不到位；二是在人事、财务和信息管理等方面未充分实施一体化管理。 2、 质量控制体系方面： 一是风险评估程序执行不到位； 二是部分项目与前任注册会计师沟通程序存在缺陷； 三是部分项目审计业务约定书签署不规范； 四是高风险项目连续承接管理不规范； 五是质控人员的客观性和独立性可能存在不利影响； 六是部分项目质量控制复核不到位； 七是业务咨询底稿记录不 完善； 八是部分审计档案归档存在缺陷； 九是部分项目审计底稿超期归档。 3、 独立性管理方面： 一是个别签字注册会计师未按相关规定进行轮换； 二是个别员工未签署独立性声明； 三是内幕信息知情人管理不规范； 四是个别合 伙人及其主要近亲属、员工违规买卖上市公司股票； 五是同一品牌公司管理不规范，存在利益冲突可能。 4、 项目执 ...