Core Viewpoint - Wuzhou Transportation (600368.SH) has completed all rectifications in response to the Guangxi Securities Regulatory Bureau's findings regarding accounting irregularities and failure to conduct integrity checks on proposed directors and supervisors [1][2] Group 1: Accounting Issues - The company received a corrective order from the Guangxi Securities Regulatory Bureau on November 20, 2025, requiring rectification within 30 days [1] - Between 2022 and 2024, the company had insufficient basis for revenue recognition and incorrectly applied the gross method for revenue recognition, leading to inaccurate financial disclosures [1] - The company has corrected prior accounting errors by changing the revenue recognition method from gross to net, resulting in restated financial reports for 2022, 2023, and 2024 [1] Group 2: Financial Adjustments - After adjustments, the 2022 revenue decreased from approximately 1.687 billion to about 1.501 billion, and the operating costs fell from around 816 million to about 630 million [1] - For 2023, revenue was revised down from approximately 1.633 billion to about 1.617 billion, with operating costs adjusted from around 652 million to about 636 million [1] - In 2024, revenue was reduced from approximately 1.823 billion to about 1.563 billion, and operating costs decreased from around 922 million to about 662 million [1] Group 3: Integrity Checks - The company failed to conduct required integrity checks on proposed directors and supervisors from 2022 to 2024, violating the Securities and Futures Market Integrity Supervision Management Measures [2] - The company has now completed supplementary integrity checks for current directors and supervisors and will standardize the execution of related processes to prevent recurrence of similar issues [2]