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 公告编号：2025-136 ● 江西沐邦高科股份有限公司（以下简称"公司"）A股股票连续三个交易日收盘价格涨幅偏离值累计达 到12%，根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波动的情形。 ● 经公司自查，并书面征询公司控股股东、实际控制人，除已披露信息外，截至本公告披露日，不存在 应披露而未披露的重大信息。 ● 公司存在终止上市风险：公司于2025年10月30日披露了2025年第三季度报告，公司1-9月营业收入为 22,682.26万元、归属于母公司股东的净利润为-35,571.61万元。根据《上海证券交易所股票上市规则》 第9.3.7条等相关规定，如公司2025年度营业收入低于3亿元且利润总额、扣非前后净利润三者孰低者为 负值，或公司2025年度财务报表或内部控制被出具非无保留意见的审计报告，公司股票将在2025年年报 披露后终止上市。 ● 公司已被立案调查：公司于2025年7月25日收到中国证券监督管理委员会（以下简称"中国证监会"） 《立案告知书》（编号：证监立案字0252025003号）（ ...

在入主万林物流（603117）4年后，实际控制人樊继波突然在网上实名发帖，喊话前实际控制人黄保 忠："作为企业的历史掌舵人，黄保忠先生理应对当年的经营结果、由此产生的损失负责，对公司及广 大投资者负责，并履行过往承诺。" 为何要在网上"约战"？樊继波在接受证券时报记者采访时表示，自己在2021年成为实际控制人之后，发 现黄保忠在向其转让控股权时，隐瞒了关键资产的实际情况，导致股权交易价值与公司真实资产状况严 重不符。"黄保忠曾表示愿意承担相应责任并予以补偿，但后续并未采取实质性解决措施。" 与此同时，双方的纠纷导致万林物流的银行授信受到影响，对上市公司未来发展造成影响。樊继波直 言，如今他已经被黄保忠"拉黑"，无奈之下才决定在网上发帖。双方的核心纠纷，就包括万林物流在8 年前收购的非洲业务，证券时报记者也就此展开了深入调查。 在三年业绩承诺期（2017—2019年）内，裕林国际的业绩表现尚可。但在业绩承诺结束后，裕林国际经 营业绩急转直下，从2020年起持续出现严重亏损。 2019年11月21日，在裕林国际业绩"变脸"前，樊继波与黄保忠签署相关协议，开始推进万林物流控制权 变更事项。2020年8月，樊继波当选 ...

11月7日，*ST金泰（金力泰，300225.SZ）公告，因未按期披露2024年年报，公司及3名高管合计被罚 款460万元。 值得注意的是，《行政处罚决定书》显示，在获知中兴华会计师事务所（以下简称"中兴华所"）拟对公 司2024年年报出具"无法表示意见"审计报告后，金力泰3名高管决定不接受。但在之后正式披露的审计 报告中，中兴华所仍对金力泰2024年年报出具了"无法表示意见"的审计报告，同时对其2024年度内部控 制的有效性出具了否定意见审计报告。 无独有偶，南卫股份（603880.SH）11月4日披露的公司相关人员收到的《行政处罚决定书》显示，天衡 会计师事务所（以下简称"天衡所"）对公司2022年度内部控制审计报告出具否定意见。在沟通过程中， 南卫股份相关人员向天衡所负责人咨询，审计报告的结论能否修改？天衡所负责人明确回复，结论是确 定的，不可能修改。 此外，在两项涉及股权投资的事项上，也存在中兴华所无法判断相关财务报表列报涉及科目和金额的准 确性，无法判断股权交易款是否为关联方非经营性资金占用的情形。 对于金力泰2024年内部控制，中兴华所则直接出具了否定意见：由于存在上述重大缺陷及其对实现控制 目标 ...

Core Viewpoint - The case of Nanwei Co., Ltd. highlights the increasing regulatory scrutiny and the critical role of auditing firms in preventing insider trading and financial misconduct, emphasizing a "zero tolerance" approach in the capital market [1][5][7]. Group 1: Regulatory Actions and Consequences - Nanwei's chairman Li Ping and CFO Xiang Qinhua were fined nearly 50 million yuan for insider trading, marking a significant regulatory action following a two-year investigation [1][5]. - The investigation was triggered by Tianheng Accounting Firm's discovery of suspicious fund usage in the "construction in progress" account, leading to a denial opinion report that resulted in Nanwei's stock being marked as ST (special treatment) [1][4][5]. - Li Ping sold 8.184 million shares, avoiding losses of approximately 11.77 million yuan, while Xiang Qinhua also sold shares during the sensitive period [3][5][6]. Group 2: Auditing Firm's Role - Tianheng's audit team identified irregularities and maintained a firm stance against Nanwei's management, ultimately leading to the issuance of a negative audit opinion [2][3][4]. - The audit firm’s refusal to compromise and its insistence on professional integrity played a crucial role in uncovering the insider trading activities [5][10]. - The case illustrates that auditing firms are no longer mere rubber stamps but are essential in enforcing compliance and protecting investor interests [5][10]. Group 3: Industry Implications - The case reflects a broader trend in regulatory practices, emphasizing the importance of strict oversight and accountability for both companies and their executives [7][8]. - The regulatory environment has shifted towards a dual penalty system, where both the company and responsible individuals face consequences for violations, increasing the cost of non-compliance [8][9]. - The industry is undergoing a transformation, with auditing firms enhancing their internal controls and risk management practices to adapt to the stringent regulatory landscape [9][10].

2025.11. 06 本文字数：2280，阅读时长大约4分钟 "卖股避损"细节浮出水面 根据南卫股份11月4日晚间公告，该公司控股股东及实际控制人李平、前任财务总监项琴华，收到江 苏证监局下发的行政处罚决定书，两人作为内幕信息知情人，在敏感期内交易公司股票。 从具体事项看，因南卫股份实际控制人及其控制的企业占用公司资金，天衡所对公司2022年度内部 控制审计报告出具否定意见，导致公司股票被实施其他风险警示并停牌，对公司股票的市场价格有重 大影响，在公开披露前属于《证券法》第五十二条第一款规定的内幕信息。该内幕信息敏感期 为 2023年3月1日至4月28日。 然而，就是在此期间，李平与项琴华进行了大额减持。 经查，李平通过国联证券账户，合计卖出南卫股份818.40万股，成交金额4796.78万元。同期，项 琴华也合计卖出5.4万股，成交金额34.05万元。 内部控制审计报告出具否定意见后，2023年4月28日至5月10日，南卫股份连续五个交易日跌停， 股价从5.51元跌至4.26元。也就是说，李平与项琴华已在股价大跌前精准出逃。 作者 | 第一财经 王方然 上市公司资金占用暴露，股票被"ST"而腰斩之前，实控 ...

Core Viewpoint - *ST HuKe's stock has experienced abnormal trading fluctuations, with a cumulative price increase of 12% over three consecutive trading days, indicating potential risks of delisting due to insufficient revenue and profit levels [1] Financial Performance - For the first three quarters of 2025, the company reported operating revenue of 5.4403 million yuan [1] - The company faces delisting risks if its annual profit, net profit, or net profit after excluding non-recurring gains and losses is negative and if its operating revenue is below 300 million yuan [1] Shareholder and Ownership Issues - The original controlling shareholder, Nanjing Siweit Group, has unresolved historical fund occupation issues with the company [1] - A share transfer agreement with Kunming Dianyuyou Investment Holding Co., Ltd. has not been completed due to share freezing, with parties actively negotiating to unfreeze the shares [1] - Shares held by the controlling shareholder and shareholders with over 5% ownership are subject to pledges, markings, and freezes [1] Supplier and Debt Recovery - The company's main supplier, Hong Kong Petrochemical, is undergoing compulsory liquidation, with an estimated debt recovery rate of approximately 10.1% [1] - The company has received 5.5% of the repayment amount, and there is a possibility of further provisioning for bad debts [1] Disclosure and Reporting - The board of directors confirmed that there are no other undisclosed significant matters related to the company, and there have been no recent media reports or market rumors significantly impacting the company's stock price [1]

Core Points - The company has been under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws since July 27, 2023 [5] - The company plans to publicly transfer 90.3085% of its subsidiary's shares through the Ningbo Property Rights Exchange [6] - The company has faced multiple risk warnings due to past violations, including illegal guarantees and fund occupation [10][24] Financial Data - The third-quarter financial report has not been audited [3][8] - The company has not made any adjustments or restatements to previous accounting data [3] - There are no non-recurring gains or losses reported in the financial statements [3] Shareholder Information - The company has not reported any changes in the top ten shareholders or their shareholding due to securities lending [5] Legal and Compliance Issues - The company received an administrative penalty notice from the CSRC on April 18, 2025, indicating false disclosures in its annual report [26] - The company has been involved in multiple legal cases related to illegal guarantees, with significant amounts involved, including a total of 1.354 billion yuan in guarantees and 346.35 million yuan in fund occupation [15][16] - The company has received payments from restructuring investors totaling 856.39 million yuan for the recovery of illegal funds [25][23]

Core Viewpoint - The case of Changjiang Runfa Health Industry Co., Ltd. highlights severe financial misconduct involving 3.558 billion yuan in fund misappropriation and systematic information disclosure fraud, emphasizing the regulatory principle of "delisting does not exempt from liability" [1][4]. Group 1: Financial Misconduct - From 2021, the controlling shareholder, Runfa Group, treated Changjiang Health as a "cash machine," using covert methods to extract funds, leading to significant non-operational fund occupation [3]. - The scale of fund occupation grew explosively, reaching 2.798 billion yuan in 2021, accounting for 60.73% of the net assets, and increasing to 3.674 billion yuan in 2022, which represented 79.01% of the net assets [3]. - By April 30, 2024, 3.558 billion yuan remained unreturned, equivalent to several times the company's net assets in previous reporting periods [3]. Group 2: Regulatory Actions - The 53.3 million yuan fine is the highest in recent years for similar cases, affecting the company, its controlling shareholder, and responsible individuals, with the former CFO facing a three-year market ban [4]. - The regulatory response reflects a commitment to addressing capital market irregularities, with the case being part of a broader trend of increased enforcement against financial misconduct [5]. Group 3: Investor Impact and Legal Recourse - Following the penalty announcement, affected investors can initiate claims, particularly those who purchased shares between January 13, 2021, and April 29, 2024, and sold or still hold shares after April 30, 2024 [6]. - The case serves as a warning for corporate governance, with regulators pushing for a comprehensive accountability system and emphasizing the need for compliance to protect market integrity and investor rights [7].

Core Viewpoint - The company *ST Weihai has faced multiple risk warnings due to violations such as improper guarantees, fund occupation, and false financial reporting from 2019 to 2025 [1] Group 1: Financial Irregularities - From 2017 to 2019, under the direction of Feng Quanhong, the company provided guarantees amounting to 1.354 billion yuan and funds totaling 346 million yuan to related parties [1] - As of November 30, 2021, the balance of funds occupied by related parties was 851 million yuan [1] - The company has received 856 million yuan in proceeds from the acquisition of rights to the illegal funds and 93 million yuan in interest [1] Group 2: Operational Status - The company's major bank accounts have been unfrozen [1] - The internal control audit report for 2024 received a standard unqualified opinion [1]

Core Viewpoint - ST Lingnan is pursuing legal action against its former actual controller and current co-chairman, Yin Hongwei, for the recovery of misappropriated funds amounting to 142 million yuan, which has raised concerns about the company's financial stability and governance issues [2][3][5]. Financial Issues - The company reported cumulative losses exceeding 3.63 billion yuan over the past three years, with net losses of 1.55 billion yuan in 2022, 1.09 billion yuan in 2023, and 984 million yuan in 2024 [5][6]. - As of the end of 2024, ST Lingnan's accounts receivable stood at 2.26 billion yuan, indicating significant challenges in cash flow and collection [6]. Legal Proceedings - The case against Yin Hongwei has been officially accepted by the court, with the amount in question being 142 million yuan plus associated losses due to fund occupation [2][3]. - Yin Hongwei's personal assets are uncertain, raising doubts about the recovery of the owed amount [4][5]. Governance and Compliance - The company has faced scrutiny from the China Securities Regulatory Commission for suspected violations of information disclosure, which is believed to be linked to the fund misappropriation case [5]. - Internal control issues have been highlighted, with auditors issuing negative opinions on the company's internal controls due to the misappropriation of funds [3][5]. Shareholder Impact - Following the misappropriation, Yin Hongwei's shareholding has been significantly affected, with 208 million shares frozen and 100 million shares recently auctioned off, reducing his stake from 14.71% to 11.42% [4][5].