登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：大众证券报 2026年2月25日，*ST海华（600243）召开2026年第一次临时股东会，以99.2450%的超高同意票审议通 过聘任中瑞诚会计师事务所（下称"中瑞诚所"）为2025年度审计机构，为持续多月的审计机构更换风波 暂时画上句号。 | í í 议案审议情况 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | (-) 非累积投票议案 | | | | | | | | | 1、议案名称:青海华盘实业股份有限公司关于聘任会计师事务所的议案 | | | | | | | | | 审议结果:通过 | | | | | | | | | 表决情况: | | | | | | | | | | | 同意 | | 反对 | | 弃权 | | | 股东类型 | | | | | 出例 | | 比例 | | | | 票数 | 比例(%) | 票数 | | 票数 | | | | | | | | (%) | | (%) | ...

将视野放宽，2026年元旦之后，涉及审计机构辞任或改聘的上市公司数量已达到8家。这些公司普遍呈 现业绩亏损、半数已被"披星戴帽"的特点，其密集更换审计机构的举动，在年关时点显得格外突兀。 在全面从严监管的背景下，审计机构在元旦后的辞任或改聘行为，通常并非偶然。现象背后，折射出审 计机构对上市公司审计的审慎态度：或是因业务超载而主动舍弃质地相对不佳的客户，或是因团队变动 而无力承接，更关键的是，有的会计所在审计过程中为规避难以调和的风险与潜在的监管处罚而选 择"辞任自保"。 这一系列举动，无疑为相关上市公司的年报披露之路增添了更大的不确定性，并为其本就严峻的退市风 险敲响了警钟。 年报披露"冲刺期"遇阻：两家*ST公司审计机构"悬空" 年报披露进入最后三个月的倒计时，这本应是审计机构进场、全面展开审核的关键阶段。然而，市场却 出现了令人关注的现象：个别上市公司，正面临"审计师难觅"的窘境。 截至2月2日，*ST海华与*ST赛隆两家公司甚至在审计机构仓促辞任后，至今未能确定新的年审会计师 事务所，退市风险骤然加剧。 4月30日是上市公司披露年报的最后截止日。倒计时3个月，年报审核通常已进入关键阶段，审计机构 （会 ...

Core Viewpoint - The article discusses the shift in securities regulatory requirements from "formal compliance" to "substantive authenticity" in the context of the registration system reform, questioning whether Zhejiang Hengdao Technology Co., Ltd. has alleviated concerns regarding the authenticity of its revenue in its second-round inquiry response [1][14]. Group 1: Company Overview - Zhejiang Hengdao Technology Co., Ltd. is under review by the Beijing Stock Exchange, with its application accepted on June 13, 2025, and the latest update on January 21, 2026 [2][14]. - The company is sponsored by Guotai Junan Securities Co., Ltd., with representatives Lu Qi and Wu Shaochao, and audited by Tianjian Certified Public Accountants, with signatory accountants Wei Jianqing and Zhou Wangfei [2][14]. Group 2: Audit and Verification Concerns - There are concerns regarding the effectiveness of audit measures for a significant portion of small and micro clients, with 87% of these clients potentially lacking adequate verification [2][14]. - The on-site visit coverage for clients with transactions below 500,000 yuan has been low, with only 21.08% of small clients visited in 2024, indicating over 500 clients have not been verified by intermediaries [5][6][18]. - The audit process has been criticized for its low external confirmation rates, with only 17.62% of small clients receiving confirmation letters in 2024, raising questions about compliance with auditing standards [21][23]. Group 3: Risk of Revenue Inflation - A significant portion of Hengdao Technology's revenue (20%-30%) comes from high-risk clients, defined as those with registered capital below 500,000 yuan or newly established during the reporting period, which raises concerns about potential revenue inflation through shell companies [22][23]. - The identification of 136 clients with discrepancies in confirmation addresses or contacts signals a high level of fraud risk, suggesting that confirmation letters may not have reached the intended recipients [10][25]. Group 4: Ineffective Verification Methods - The reliance on internal documents for verification, such as contracts and orders, without independent third-party evidence, is questioned, as it may lead to circular reasoning in audits [21][26]. - The audit team’s explanations for address discrepancies, such as group procurement or internal personnel handling, are deemed inadequate and raise further doubts about the integrity of the verification process [10][25].

Core Viewpoint - Company *ST Lifan (300344.SZ) has applied for a one-day suspension of trading due to market rumors and is facing significant risks of forced delisting due to major legal violations [1][2] Group 1: Company Suspension and Legal Issues - Company announced a one-day trading suspension starting January 19, 2026, and will resume trading on January 20, 2026, to verify related information [1] - Company received an administrative penalty and market ban notice on November 28, and has applied to the CSRC for a statement, defense, and hearing extension, which is a normal procedure [1] - Company stock faces a significant risk of forced delisting if it receives an administrative penalty decision that triggers delisting conditions [1] Group 2: Financial Performance - For the first nine months of 2025, the company reported revenue of 203.33 million yuan, a year-on-year decrease of 0.44%, and a net loss attributable to shareholders of 62.21 million yuan, a year-on-year decline of 20.59% [1] - Preliminary forecasts indicate that the company's net profit for the entire year of 2025 is expected to remain negative [1] Group 3: Audit and Compliance Risks - The company's internal control for the 2024 financial report received a negative audit opinion from Zhongxing Caiguanghua Accounting Firm, which is currently under investigation [1] - The company has not completed the reappointment of its auditing firm, and the annual audit work has not officially commenced, leading to certain audit risks [1]

Core Viewpoint - *ST Lifan (300344) has announced a one-day suspension of trading to investigate market rumors regarding potential administrative penalties and risks of forced delisting due to significant legal violations [1] Group 1: Market Rumors and Company Actions - The company has noted media reports about a public letter from the actual controller of Lifan Shuke to all shareholders [1] - On November 28, the company and related parties received a notice regarding administrative penalties and market entry bans, which is part of the normal procedure for appealing to the China Securities Regulatory Commission (CSRC) [1] - The company acknowledges the risk of forced delisting if it encounters circumstances that trigger such actions [1] Group 2: Audit and Financial Reporting Risks - The company has not yet completed the appointment of a new auditing firm, which poses certain audit risks [1] - The current auditor, Zhongxing Cai Guanghua Accounting Firm, is under investigation, potentially affecting the ability to conduct the audit for the 2025 annual report [1] - The company will announce the administrative penalty decision promptly once received, and trading is set to resume on January 20, 2026 [1]

Core Viewpoint - Ruikang Pharmaceutical has terminated its cooperation with Zhongxing Caiguanghua Accounting Firm and appointed Shenzhen Jiuan to undertake the 2025 audit, raising concerns about potential audit risks and independence issues [3][4]. Group 1: Company Actions - The company announced the change in auditors on December 24, citing "comprehensive consideration of business development and audit needs" without providing further details [3]. - The decision to change auditors comes just before the annual audit process, which typically starts in January and concludes by the end of April [3]. Group 2: Regulatory Issues - Ruikang Pharmaceutical has faced multiple regulatory warnings over the past five years, including a warning from the Shandong Securities Regulatory Bureau in December 2023 for serious violations [3]. - Specific violations include failing to disclose a 4.6 billion yuan related party transaction and not timely reporting litigation matters totaling 5.84 billion yuan [3]. Group 3: Management Turmoil - In July 2023, the company experienced significant management changes, including the detention of a board member and the resignation of the actual controller's son [4]. - These management upheavals coincide with a decline in the company's operational performance [4]. Group 4: Financial Performance - Revenue for Ruikang Pharmaceutical has seen significant declines from 2020 to 2024, with year-on-year decreases of 22.84%, 22.67%, 41.54%, 34.74%, and a slight drop of 0.85% in 2025 [4]. - The net profit for the company has also deteriorated, with a 63% year-on-year decline in the first three quarters of 2025 [4]. Group 5: Industry Context - Ruikang Pharmaceutical is not alone in terminating its relationship with Zhongxing Caiguanghua; at least 30 other A-share companies have also ended their partnerships with the firm amid concerns over its audit practices [5][6]. - The wave of terminations is linked to Zhongxing Caiguanghua's involvement in a financial fraud case, which has led to regulatory scrutiny and investigations [6].