登录新浪财经APP 搜索【信披】查看更多考评等级 受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 一家上市公司耗时四年精心设计的IPO资金体外循环通道，在同一天被监管亮出"黄牌"和"红牌"警告。 一、监管一日双罚 12月19日晚，卓然股份（维权）及实际控制人张锦红同日收到中国证监会的《立案告知书》和上海证监 局的行政监管措施决定书。 立案告知书中表示公司存在信息披露违法违规。监管措施决定则指出公司在资金使用方面的违规行为。 该公司是2021年在上交所上市的公司，其主营业务为大型炼油化工专用装备模块化、集成化制造。 受上述消息影响，卓然股份股价出现下跌，不少投资者无端遭受损失。 随着立案调查的启动，投资者维权渠道也已开放。上海沪紫律师事务所刘鹏律师表示根据历史案例，上 市公司一旦被证监会立案调查，最终被认定为信息披露违法违规并受到处罚的可能性较大。 现符合于2025年12月19日（含当日）之前买入，并在2025年12月20日之后卖出或仍持有而亏损 ...

Core Viewpoint - The approval of Hunan Wuxin Tunnel Intelligent Equipment Co., Ltd.'s asset acquisition and fundraising marks the first successful implementation of a share issuance for asset purchase under the new regulatory framework, demonstrating the support for companies to optimize resource allocation through mergers and acquisitions [1] Group 1: Company Overview - Hunan Wuxin Tunnel is set to expand its business into bridge and port sectors, which is expected to significantly enhance its revenue and net profit, thereby improving operational efficiency [1] - The scale of the restructuring transaction exceeds 2.6 billion yuan, with an additional 100 million yuan raised for supporting funds, challenging the perception that small and medium-sized enterprises can only engage in small-scale mergers [1] Group 2: Market Impact - The successful registration of Wuxin Tunnel's restructuring project is likely to boost confidence among small and medium-sized enterprises in utilizing mergers and acquisitions [1] - Following Wuxin Tunnel, another company, Chuangyuan Xinke (Shanghai) Technology Co., Ltd., has also initiated a share issuance for asset acquisition project, indicating a potential increase in merger and acquisition activities on the Beijing Stock Exchange [1] - The "first case" effect of Wuxin Tunnel's project is expected to enhance the activity level of mergers and acquisitions in the market, contributing to the high-quality development of listed companies and supporting a stable and active capital market [1]

Core Viewpoint - Hangcha Group (603298) has launched its new intelligent production base, Hangcha Group Xiangfan Technology Park Phase IV, which began production in November 2023 [1] Group 1 - The new facility covers an area of 76.4 acres and has an investment exceeding 100 million yuan [1] - The annual production capacity includes 10,000 sets of automation equipment, 10,000 mobile robots, 5,000 inspection robots, 1,000 stackers, 2,000 shuttle cars, and 100,000 meters of conveyor lines [1]

公司及实际控制人收到中国证监会出具的《立案告知书》。 12月19日，卓然股份(688121.SH)公告称，公司及实际控制人张锦红于2025年12月19日收到中国证监会 出具的《立案告知书》，因涉嫌信息披露违法违规等事项，中国证监会决定对公司及实际控制人张锦红 立案。目前公司各项经营活动和业务均正常开展。立案调查期间，公司及实际控制人将积极配合中国证 监会的相关工作，并严格按照相关法律法规和监管要求及时履行信息披露义务。 （文章来源：证券时报） 同日，公司收到上海证监局出具的《关于对上海卓然工程技术股份有限公司采取责令改正措施并对张锦 红、吴玉同、张笑毓采取出具警示函措施的决定》（沪证监决（ 2025 ）268 号）（以下简称《决定 书》）。 经查，公司存在以下违规事项: 2021年至2024年期间，公司在IPO募投项目实施过程中，违规支付部分募集资金，经由公司控股股东、 董事长张锦红有效控制的供应商或资金通道方银行账户流入体外资金池进行资金调配，部分资金在当日 或次日回流至公司非募集户，其余流向了张锦红间接控制的企业。公司未如实披露募集资金存放及实际 使用情况，亦未如实披露关联方非经营性资金往来情况。 公司上 ...

Core Viewpoint - The company, Zhuoran Co., Ltd. (688121.SH), and its actual controller, Zhang Jinhong, received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into alleged violations of information disclosure laws [1]. Group 1: Regulatory Actions - On December 19, 2025, the company and Zhang Jinhong received a formal notice from the CSRC for suspected violations of information disclosure regulations [1]. - The Shanghai Securities Regulatory Bureau issued a decision to impose corrective measures on Zhuoran Co. and warning letters to Zhang Jinhong, Wu Yutong, and Zhang Xiaoyu [4]. Group 2: Violations Identified - Between 2021 and 2024, the company misused part of the funds raised during its IPO by transferring them through accounts controlled by its major shareholder, Zhang Jinhong, to external funding pools, with some funds returning to non-designated accounts [5]. - The company failed to disclose the actual use of raised funds and the non-operational financial transactions with related parties, violating the regulations set forth in the Administrative Measures for Information Disclosure by Listed Companies [5]. Group 3: Responsibilities and Consequences - Zhang Jinhong, as the chairman, is held responsible for the violations and received a warning letter from the Shanghai Securities Regulatory Bureau [5]. - Wu Yutong, the financial director, and Zhang Xiaoyu, the board secretary, also received warning letters for their roles in the violations [6]. - The company is required to take corrective actions and submit a written report to the Shanghai Securities Regulatory Bureau within 30 days of receiving the decision [5]. Group 4: Company Profile - Zhuoran Co. is a provider of modular and integrated manufacturing solutions for large-scale refining and petrochemical equipment, serving clients in the oil, petrochemical, and natural gas sectors [6]. - As of December 19, the company's stock price was 12.13 yuan per share, with a total market capitalization of 2.8 billion yuan [6].

Core Viewpoint - The article highlights the increasing environmental risks faced by listed companies in China, emphasizing the importance of transparency in environmental information and the potential impact on investors [4][6][12]. Group 1: Environmental Violations and Penalties - A total of 9 listed companies have recently been exposed to environmental risks, with 91.01 million shareholders potentially affected by these issues [5][8]. - Jianfa Heceng (SH603909) was fined three times within a month for noise pollution due to construction activities in noise-sensitive areas, totaling 28 million yuan [6][9]. - Zhejiang Construction Investment (SZ002761) was fined 200,000 yuan for illegally dumping construction waste [10]. - Nankuang Group (SZ001360) was penalized 100,000 yuan for improper storage of hazardous waste [11]. Group 2: Regulatory Framework and Public Awareness - The article discusses the evolution of environmental information disclosure in China, highlighting the legal framework that supports public access to environmental data [12]. - The increasing emphasis on ESG (Environmental, Social, and Governance) factors in investment decisions is noted, indicating a shift towards sustainable business practices among listed companies [11][12].

卓然股份(688121)12月19日公告，公司及实际控制人张锦红于12月19日收到中国证监会出具的《立案告 知书》，因涉嫌信息披露违法违规等事项，根据相关法律法规，中国证监会决定对公司及实际控制人张 锦红立案。目前公司各项经营活动和业务均正常开展。立案调查期间，公司及实际控制人将积极配合中 国证监会的相关工作，并严格按照相关法律法规和监管要求及时履行信息披露义务。 同日卓然股份公告，公司12月19日收到上海证监局出具的《关于对上海卓然工程技术股份有限公司采取 责令改正措施并对张锦红、吴玉同、张笑毓采取出具警示函措施的决定》（简称《决定》）。 《决定》显示，2021年至2024年期间，卓然股份在IP0募投项目实施过程中，违规支付部分募集资金， 经由公司控股股东、董事长张锦红有效控制的供应商或资金通道方银行账户流入体外资金池进行资金调 配，部分资金在当日或次日回流至公司非募集户，其余流向了张锦红间接控制的企业。公司未如实披露 募集资金存放及实际使用情况，亦未如实披露关联方非经营性资金往来情况。 卓然股份表示，公司及相关人员在收到上述行政监管措施决定书后，高度重视决定书中所指出的问题， 将严格按照上海证监局的要求， ...

【导读】因涉嫌信息披露违法违规，卓然股份及实控人被立案 12月19日晚间，因涉嫌信息披露违法违规等事项，卓然股份及实际控制人、董事长张锦红被立案调查。 另外，因IPO募集资金违规使用及信披违规，卓然股份被采取责令改正措施，多位高管被出具警示函。 涉嫌信息披露违法违规 卓然股份及实控人被立案 12月19日，卓然股份发布公告称，公司及实际控制人、董事长张锦红收到中国证监会出具的《立案告知书》，因涉嫌信息披露违法违规等事项，中国证监 会决定对公司及实际控制人张锦红立案。 卓然股份及多位高管被出具警示函 与此同时，卓然股份收到中国证监会上海证监局出具的《关于对上海卓然工程技术股份有限公司采取责令改正措施并对张锦红、吴玉同、张笑毓采取出具 警示函措施的决定》。 经查，卓然股份在2021年至2024年期间，在IPO募投项目实施过程中，违规支付部分募集资金，经由公司控股股东、董事长张锦红有效控制的供应商或资 金通道方银行账户流入体外资金池进行资金调配，部分资金在当日或次日回流至公司非募集户，其余流向了张锦红间接控制的企业。公司未如实披露募集 资金存放及实际使用情况，亦未如实披露关联方非经营性资金往来情况。 卓然股份上述行为 ...

Core Viewpoint - Zhuoran Co., Ltd. and its actual controller, Chairman Zhang Jinhong, are under investigation for suspected violations of information disclosure regulations, including improper use of IPO fundraising [1][3]. Group 1: Investigation and Regulatory Actions - On December 19, Zhuoran Co., Ltd. announced that it and its actual controller, Chairman Zhang Jinhong, received a notice of investigation from the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure regulations [3]. - The CSRC has decided to initiate an investigation against Zhuoran Co. and Zhang Jinhong due to these violations [3]. - Zhuoran Co. has stated that all business activities are currently operating normally and that they will cooperate with the CSRC during the investigation [5]. Group 2: Violations and Consequences - Zhuoran Co. received a corrective order from the Shanghai Securities Regulatory Bureau, which also issued warning letters to several senior executives, including Zhang Jinhong, due to violations related to the use of IPO fundraising [7]. - Investigations revealed that from 2021 to 2024, Zhuoran Co. improperly paid part of the raised funds during the IPO project implementation, with funds being diverted to external pools controlled by related parties, including Zhang Jinhong [7]. - The company failed to disclose the actual use of raised funds and the non-operational financial transactions with related parties, violating the relevant provisions of the "Management Measures for Information Disclosure of Listed Companies" [8]. Group 3: Company Profile and Market Position - Zhuoran Co. is a provider of modular and integrated manufacturing solutions for large-scale refining and petrochemical specialized equipment, serving clients in the oil, petrochemical, and natural gas chemical sectors [8]. - As of December 19, the stock price of Zhuoran Co. was reported at 12.13 yuan per share, with a total market capitalization of 2.8 billion yuan [8].

Core Viewpoint - The company and its actual controller, Zhang Jinhong, are under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, while business operations remain normal [1][2] Group 1: Regulatory Actions - On December 19, the company received a notice from the CSRC regarding the initiation of an investigation due to alleged violations of information disclosure regulations [1] - The Shanghai Securities Regulatory Bureau (SSRB) issued a decision requiring the company to take corrective measures and issued warning letters to Zhang Jinhong, Wu Yutong, and Zhang Xiaoyu for their responsibilities in the violations [2] Group 2: Violations and Consequences - The SSRB's decision indicates that from 2021 to 2024, the company improperly used part of the funds raised during its IPO, with funds being diverted to external pools controlled by Zhang Jinhong and then partially returned to non-designated accounts [1][2] - The company failed to accurately disclose the actual use of raised funds and the non-operational transactions with related parties [1][2] Group 3: Company Profile and Financials - The company specializes in modular and integrated manufacturing of large-scale refining and chemical equipment, providing comprehensive solutions for clients in the petrochemical, refining, and natural gas chemical sectors [2] - For the first three quarters of 2025, the company reported revenues of 1.565 billion yuan and a net profit of 59.56 million yuan [2]