Core Viewpoint - The recent issuance of warning letters by the Guangdong and Shenzhen Securities Regulatory Bureaus to Guangzhou Haiyin Industrial Group and Fuyang Quanfu Enterprise Management Co., Ltd. highlights the issue of unfulfilled shareholding commitments, which misleads the market and investors, undermining the integrity of the securities market [1][2] Group 1 - Haiyin Group, as a controlling shareholder, committed to increase its stake in Haiyin shares by no less than 50 million yuan and no more than 80 million yuan, but only increased its stake by 13.4642 million yuan, failing to meet even the lower limit [1] - Fuyang Quanfu planned to increase its stake in Jiawei New Energy by no less than 60 million yuan but did not purchase any shares, citing "insufficient funds" as the reason, which the market finds increasingly unacceptable [1] - The behavior of failing to fulfill commitments damages investor confidence and undermines the foundation of the market, as public commitments by listed companies are crucial for investor decision-making [1] Group 2 - The phenomenon of "deceptive shareholding increases" is not new, where certain shareholders or executives issue increase announcements to create a favorable impression, only to not fulfill their promises later [2] - If investors suffer losses based on these announcements, the actions of the related parties may constitute misleading statements, potentially leading to substantial securities infringement [2] - Regulatory measures outlined in the "Guidelines for the Supervision of Listed Companies No. 4" indicate that violators of commitments may face corrective orders, regulatory talks, warning letters, and public explanations, but mere regulatory warnings may not create sufficient deterrence [2]

Group 1 - The article discusses the issue of companies failing to fulfill their share buyback commitments, highlighting cases involving Guangzhou Haiyin Industrial Group and Fuyang Quanfu Enterprise Management [1][2][4] - Guangzhou Haiyin announced a plan to buy back shares worth between 50 million to 80 million yuan but only executed a buyback of 13.4642 million yuan, falling short of the lower limit of their commitment [2][3] - Fuyang Quanfu promised to buy back 60 million yuan worth of shares in Jiawei New Energy but did not make any purchases by the deadline, citing difficulties in raising funds as the reason for non-compliance [4] Group 2 - The Guangdong Securities Regulatory Bureau issued a warning letter to Guangzhou Haiyin for not meeting its buyback commitment, which constitutes a violation of the regulatory guidelines [3] - The Shenzhen Securities Regulatory Bureau also issued a warning to Fuyang Quanfu for failing to fulfill its buyback promise, indicating a trend of regulatory scrutiny on such commitments [4] - A notable case involved Shanghai Jinlitai Chemical, where executives failed to fulfill a 300 million yuan buyback commitment, leading to a court ruling that required them to compensate investors for losses incurred due to the unfulfilled promise [5][6]