登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603398 证券简称：*ST沐邦（维权） 公告编号：2025-119 江西沐邦高科股份有限公司 关于公司股票被实施退市风险警示及其他风险警示相关事项的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 公司因2024年度净利润为负，且扣除与主营业务无关的业务收入和不具备商业实质的收入后的营业收 入低于3亿元，根据《上海证券交易所股票上市规则》第9.3.2条第(一)项规定，公司股票于2025年5月6 日被上海证券交易所实施退市风险警示。 ● 大华会计师事务所(特殊普通合伙)对公司出具了否定意见的《2024年度内部控制审计报告》，根据 《上海证券交易所股票上市规则》第9.8.1条第(三)项规定，公司股票于2025年5月6日被实施其他风险警 示。 ● 因公司存在控股股东及其关联方资金占用未收回事项，根据《上海证券交易所股票上市规则》第9.8.1 条第(一)项规定，公司股票自2025年8月27日起被叠加实施其他风险警示。 公司2024年度经审计归属 ...

Core Viewpoint - ST Meichen (SZ300237) has faced a significant decline, hitting the limit down price of 2.58 yuan, with a drop of 19.88%, resulting in a total market value of 3.72 billion yuan and a trading volume of 25.19 million yuan [1] Group 1 - The company is experiencing severe operational and financial difficulties, including financial fraud, overdue debts, and litigation disputes, leading to a continuous operational loss of 91.68 million yuan in the first half of the year, with a net asset of only 10.37 million yuan and a high debt-to-asset ratio of 97.61%, indicating near insolvency [2] - Regulatory penalties and warnings have significantly impacted the company's reputation, with a penalty decision announced on September 27, 2025, for suspected violations of information disclosure laws, leading to a collapse of investor trust [2] - The addition of the ST board concept on September 27, 2025, indicates a deterioration in the company's fundamentals, resulting in a substantial decrease in investor confidence and triggering stock sell-offs [2] Group 2 - The transition to ST status has restricted the stock's price fluctuation limits, reducing liquidity and market activity, which has led to a noticeable outflow of funds and further pushed the stock price down [2]

Core Viewpoint - The announcement by Yaqi International regarding the share reduction plan by five directors and executives, including Chairman Guo Baichun, has sparked widespread discussion among investors, particularly due to Guo's legal troubles and the implications for the company's governance and financial reporting [1][4]. Group 1: Share Reduction Plan - Five directors and executives plan to reduce their holdings by a total of up to 540,000 shares, representing 0.06% of the company's total share capital, with Guo Baichun intending to reduce up to 270,000 shares [1][3]. - The share reduction is characterized as a normal personal decision by shareholders, and the company claims it is not aware of the specifics of Guo Baichun's legal case [2][3]. Group 2: Legal Issues Surrounding Guo Baichun - Guo Baichun has been arrested on charges of embezzlement and abuse of power, which has led to his inability to attend board meetings and ensure the accuracy of the company's financial reports [4][5]. - Legal experts have indicated that while Guo cannot sign the semi-annual report, he is permitted to issue a share reduction notice as it pertains to his rights as a shareholder [6][7]. Group 3: Financial Context and Implications - The company's stock price has seen a significant increase of 81.10% year-to-date, reaching a peak of 39.02 yuan, which is the highest level in nearly three years [3]. - Guo Baichun's potential proceeds from the planned share reduction could exceed 9 million yuan based on the current stock price, while his pre-tax remuneration from the company for 2024 is reported to be 3.2839 million yuan [8].

在上市公司被立案调查之后，部分投资者会寻求避险操作，选择及时止损，集中抛售也会对上市公司股 价造成较大冲击。而如果有中长期机构投资者离场，上市公司的估值基础会发生动摇，通常会表现为向 下的价值重估。 在被立案调查之后，上市公司会遭遇严重的信任危机。从被立案调查的类型来看，涉嫌信息披露违法违 规的情形占据绝大多数。在遭立案调查后，投资者会对上市公司曾经披露过的重要公告产生真实性质 疑，上市公司在资本市场的公信力大打折扣，进而成为其估值的减分项。 上市公司经营情况快速恶化也是潜在的风险之一。立案调查可能一定程度上降低上市公司在行业内的品 牌影响力，对供应商、大客户的稳定性也可能产生负面预期，从而影响上市公司主营业务的盈利能力。 此外，银行等金融机构可能收紧授信额度，上市公司的融资活动可能因此受到负面影响。 【#立案调查股应避而远之#】近日，恒信东方、际华集团接连遭立案调查。强监管时代下，上市公司违 法违规行为无处遁形。一旦被立案调查，上市公司将面临巨大的投资风险，在罚单未落地之前，退市风 险时刻存在，投资者的最佳选择是避而远之。 在行政处罚落地之后，上市公司还将面临众多符合索赔条件投资者的索赔，索赔金额对于上市公 ...

Core Viewpoint - *ST Hengtai is set to remove its delisting risk warning and change its stock name to Heli Tai, following a successful restructuring and improvement in financial health [2][3][8]. Financial Performance - As of the end of 2024, Heli Tai reported a net asset value of 1.856 billion yuan, with total revenue of 1.282 billion yuan and a net profit of 1.519 billion yuan, marking a significant recovery from previous losses [8][9]. - The company's asset-liability ratio decreased from 193.91% at the beginning of the year to 27.52% after the restructuring [9]. - In Q1 2025, Heli Tai achieved a revenue of 366 million yuan, representing a year-on-year growth of 8.63%, and a net profit of 4.0847 million yuan, indicating a return to profitability [16]. Corporate Restructuring - Heli Tai underwent judicial restructuring in 2024 due to severe debt issues and continuous losses, with the restructuring plan completed by December 31, 2024 [6][9]. - The company has shifted its focus to electronic paper and general display sectors, divesting from its traditional mobile phone business to reduce losses [9]. Regulatory Challenges - Despite the successful restructuring, Heli Tai is still under investigation by the China Securities Regulatory Commission (CSRC) for alleged information disclosure violations, with the investigation ongoing [11][12]. - The company received a notice of investigation on April 28, 2025, and has not yet received a conclusive opinion from the CSRC [12]. Management Changes - Heli Tai recently experienced significant management changes, with the resignation of key executives including the chairman and CFO, and the appointment of new management personnel [13][14][15]. - The company aims to strengthen its existing business segments while navigating the challenges posed by the ongoing regulatory investigation and market conditions [15].

Core Viewpoint - The regulatory environment remains stringent, with over 30 companies being investigated for violations, primarily related to information disclosure, leading to significant declines in their stock prices [3][4][6]. Group 1: Investigation Statistics - A total of 32 companies, shareholders, or executives have been investigated this year, with most cases involving information disclosure violations [3]. - Among the investigated companies, 50% are classified as ST (Special Treatment) companies, indicating a higher risk of forced delisting due to major violations [4]. - The China Securities Regulatory Commission (CSRC) has intensified its enforcement actions, handling 739 cases and issuing 592 penalties in 2024, marking a 10% increase year-on-year [8]. Group 2: Impact on Companies - Companies under investigation typically face administrative penalties, which can severely impact their stock performance and refinancing capabilities [6][8]. - For instance, *ST Dongtong's stock price plummeted by 20% consecutively after being investigated for false financial reporting, resulting in a 50% decline in its stock value this year [4]. - Tianmao Group was also investigated for failing to disclose financial reports on time, highlighting the risks associated with non-compliance [4]. Group 3: Legal and Financial Consequences - Companies facing investigations may also be liable for civil compensation claims from investors due to securities fraud, as stipulated by the Securities Law [5]. - The CSRC's focus on information disclosure violations, which accounted for 34% of all cases, underscores the importance of compliance for listed companies [8].

Core Viewpoint - The announcement details the progress of a lawsuit involving Kairde Holdings Co., Ltd. and its implications for the company's financial situation, particularly regarding a case filed by Shenzhen Yonghuiyuan Supply Chain Co., Ltd. [2][19] Group 1: Lawsuit Details - Kairde has received a notice from the Guangdong High Court regarding a case where Shenzhen Yonghuiyuan Supply Chain Co., Ltd. is seeking execution supervision against a prior ruling by the Shenzhen Intermediate People's Court [2] - The case involves Kairde's objections to execution orders related to its debt obligations, which have been previously disclosed in multiple announcements [2][19] - The Guangdong High Court has officially accepted the case for review, indicating ongoing legal proceedings [17] Group 2: Financial Implications - The previous ruling by the Shenzhen Intermediate People's Court is expected to have no impact on Kairde's profits for the year 2024, as the company has already accounted for the related liabilities during its bankruptcy restructuring [19] - However, the ongoing execution supervision process introduces uncertainty regarding potential future impacts on the company's profits [19] Group 3: Regulatory Investigation - Kairde is currently under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, with the investigation still ongoing [23][24] - The company has reported that it has filed criminal complaints against former controlling shareholders for actions that led to historical debt issues, which were resolved through bankruptcy restructuring in 2021 [24] - Kairde is committed to cooperating with the CSRC and will provide monthly updates on the investigation's progress [24]