在产能扩张上公司2021年以来固定资产和在建工程支出超25亿元，导致公有息负债规模不断扩大。随着 行业竞争和新产能的落地，公司毛利率从上市前的24.54%逐年下滑到2024年的10.44%,虽然营收数据翻 倍但是毛利率下滑和固定资产折旧增加导致公司上市以来呈现增收不赠利的局面。加上上市第一年收购 冠臻科技后各项资产减值因素影响更是直接导致2024年度亏损高达2.36亿元。 2025年11月22日，聚石化学（688669）公告称收到证监会立案告知书，公司因信息披露违规被立案调 查。对于本次立案调查的方向和涉及的内容公司并未做进一步披露。截止2025年9月30日，公司股东户 数仅为4754户，人均持股高达58.06万，筹码高达集中。 基本面上，公司上市前主营业务为改性塑料，上市后向产业链上游布局石化材料和精细化工,向下游拓 展应用产品。在上市第一年就先后以以自有资金7522.20万元收购龙华化工59.06%的股权和1.32亿元收 购冠臻科技 55%股权，先后切入五氧化二磷和多聚磷酸和透气膜、印刷膜、复合膜等相关业务，这为 公司后续公司业绩拉胯埋下了伏笔。 （来源：聚石化学公告） 上海古北律师事务所专业证券索赔律师 ...

Core Viewpoint - The company *ST Yuan Cheng (603388.SH)* is facing a severe crisis due to financial fraud, leading to a potential delisting and significant penalties imposed by the regulatory authorities [2][7]. Financial Fraud and Penalties - The China Securities Regulatory Commission (CSRC) has identified that *ST Yuan Cheng* engaged in financial fraud from 2020 to 2022, resulting in a proposed total fine of nearly 80 million yuan, including 37.45 million yuan for the company itself [2][6]. - The fraudulent activities included inflating project costs and revenues, with a total of 1.58 billion yuan in inflated operating costs and 2.09 billion yuan in inflated revenues during the fraudulent period [3][5]. - The company’s financial reports for 2020, 2021, and 2022 showed inflated profits of 38.48 million yuan (36.60%), 11.09 million yuan (19.32%), and 0.886 million yuan (1.62%) respectively [3][4]. Regulatory Actions - The CSRC has classified the case as a serious financial fraud, triggering a mandatory delisting process due to the continuous nature of the fraud over three years [7][8]. - The regulatory body has indicated that any potential criminal elements will be referred to law enforcement agencies for further investigation [7]. Impact on Investors - Investors who suffered losses due to the financial fraud may file for compensation, as the penalties imposed on the company can be used to reimburse affected shareholders [2][11]. - The company has been in a state of continuous losses, with reported revenues of 294 million yuan, 274 million yuan, and 146 million yuan from 2022 to 2024, and a net loss of 66.49 million yuan in 2022 [9][10]. Market Performance - Following the announcement of the fraud and penalties, the stock price of *ST Yuan Cheng* dropped by 4.07% to 1.65 yuan per share, marking a cumulative decline of over 86% from its peak in December 2023 [9][10].

Group 1 - The core point of the article is that Beijing Jinyi Culture Development Co., Ltd. reported a significant increase in revenue but a substantial loss in net profit for the first half of 2025, alongside ongoing legal issues related to information disclosure violations [1] - For the first half of 2025, the company's operating income was 412 million yuan, representing a year-on-year increase of 117.11% [1] - The net profit attributable to shareholders was -24.27 million yuan, showing a year-on-year decline of 551.58% [1] - The basic earnings per share were -0.0092 yuan, reflecting a year-on-year decrease of 557.14% [1] Group 2 - The company faced administrative penalties from the China Securities Regulatory Commission (CSRC) due to suspected violations in its 2020 and 2021 annual reports [1] - A second-instance victory has been achieved in the compensation case, with a time limit of 7 months remaining for affected investors to file claims [1] - Investors who purchased shares between April 30, 2021, and April 29, 2023, and still hold them, may be eligible for compensation, regardless of whether they sold after April 30, 2023 [2][3]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against PubMatic, Inc. due to allegations of violations of federal securities laws related to misleading statements and undisclosed information regarding a significant reduction in ad spend from a top demand-side platform (DSP) buyer [3][4]. Group 1: Allegations and Financial Impact - The complaint alleges that PubMatic and its executives made false or misleading statements and failed to disclose that a top DSP buyer was shifting clients to a new platform, leading to a reduction in ad spend and revenue [3]. - Following the release of its second quarter 2025 financial report, PubMatic's stock price fell by $2.23, or 21.1%, closing at $8.34 per share on August 12, 2025, due to the negative outlook regarding ad spend [4]. Group 2: Legal Proceedings and Investor Actions - Investors who purchased securities in PubMatic between February 27, 2025, and August 11, 2025, are encouraged to contact Faruqi & Faruqi to discuss their legal rights, with a deadline of October 20, 2025, to seek the role of lead plaintiff in the class action [1][5]. - The lead plaintiff is defined as the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [5].

Group 1 - Fujian Zitian Media Technology Co., Ltd. (Zitian Technology) has been penalized by the Fujian Securities Regulatory Bureau for false disclosures in its annual and semi-annual reports for 2022 and 2023 [1][2] - The company has been fined a total of 8.5 million yuan for its violations, with additional fines imposed on key personnel, including 4 million yuan on the former chairman and 300,000 yuan on the financial director [1] - Two main responsible individuals have been banned from the market for life due to their involvement in the violations [1] Group 2 - Investors who purchased shares between April 28, 2023, and April 19, 2024, and still hold them may register for compensation through the "Sina Investor Rights Protection Platform" [2][3] - The compensation eligibility is determined by the court, and the registration is voluntary for affected investors [3]

Core Points - Fujian Zitian Media Technology Co., Ltd. faces potential delisting due to failure to rectify financial report discrepancies as mandated by the Fujian Securities Regulatory Bureau [2][3] - The company has not appointed a qualified accounting firm or submitted a rectification report, leading to a warning of delisting from the Shenzhen Stock Exchange [2] - Administrative penalties have been issued against the company and its executives for violations related to false disclosures [3] Investor Compensation Basis - Investors have the right to seek compensation for losses incurred due to the company's violations of information disclosure laws and false statements, as per the Securities Law and relevant judicial regulations [5] Conditions for Participation in Compensation - Investors who meet specific conditions related to their purchase and sale of the company's stock during designated periods may participate in compensation claims [6][9] Legal Team Background - The legal team led by Xie Baoping has successfully assisted numerous investors in recovering funds from over 100 stocks, with several cases recognized as exemplary by the courts [7]