Core Viewpoint - The company, Si Er Te (002538), is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its financial reporting and operations [1][2]. Group 1: Regulatory Actions - On September 1, the company received a notice from the CSRC regarding the initiation of a case due to alleged information disclosure violations [1]. - The company had previously received a corrective action decision from the Anhui Securities Regulatory Bureau in April, highlighting issues with its subsidiary's labor engineering business and accounting practices from 2021 to 2023 [2]. Group 2: Financial Performance - For the first half of 2025, the company reported total revenue of 2.183 billion yuan, a year-on-year increase of 7.15%, but a significant decline in operating profit and net profit, down 40.92% and 43.60% respectively [3]. - The total assets at the end of the reporting period were 6.326 billion yuan, a decrease of 0.92% from the beginning of the year, while the equity attributable to shareholders was 5.306 billion yuan, down 0.11% [3]. Group 3: Internal Control and Management Issues - The company has acknowledged issues with internal controls, particularly related to former management personnel who allegedly fabricated costs to misappropriate funds, leading to a police report for suspected embezzlement [2]. - Two board members expressed concerns over the accuracy and completeness of the financial report due to ongoing investigations, indicating potential undisclosed transactions that could further impact financial statements [4].

司尔特突发！ 9月1日晚间，司尔特（002538）公告称，公司当日收到中国证监会对公司送达的《立案告知书》，公司 因涉嫌信息披露违法违规，根据相关法律法规，中国证监会决定对公司进行立案。 公司表示，目前公司生产经营活动正常，该事项不会对公司生产经营产生重大影响。 司、温州某建设工程有限公司、福建某建设集团有限公司的劳务工程业务及陕西某建设集团有限公司的 台车掘进业务不真实，成本费用核算不符合企业会计准则，导致公司定期报告披露不准确，违反了《上 市公司信息披露管理办法》第三条第一款的规定。 据悉，2023年底，公司管理层在日常管理过程中发现金某辉、黄某利等部分原管理人员存在虚构成本、 费用套取公司资金的情况并向宁国市公安局以涉嫌职务侵占犯罪报案，公司已于2024年1月18日进行相 关信息披露。2025年1月—3月，安徽监管局对公司及全资子公司贵州路发实业有限公司进行现场检查并 发现《决定书》所述违规问题。 随后，公司发布了相关整改报告。包括更正《决定书》明确载明事项导致的会计差错，追溯调整财务数 据；对内部控制进行具体整改等。 在2025年半年报中，公司及董事会特别提示：公司已根据《决定书》的相关认定，对202 ...

Core Viewpoint - The company Sierte is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its financial reporting and operations [5][7]. Group 1: Investigation Details - On September 1, Sierte announced that it received a notice from the CSRC regarding the initiation of an investigation due to suspected information disclosure violations [5]. - As of September 1, Sierte's stock price was 5.45 yuan per share, with a total market capitalization of 4.7 billion yuan [5]. - The company has 45,000 shareholders as of the end of the second quarter [5]. Group 2: Previous Regulatory Actions - In April 2023, the CSRC's Anhui Bureau imposed administrative measures on Sierte, requiring corrections due to discrepancies in labor project business and cost accounting from 2021 to 2023 [9]. - The Anhui Bureau mandated Sierte to recover misappropriated funds and improve internal controls to prevent similar issues in the future [9]. - The company reported that certain former management personnel were involved in fabricating costs and misappropriating funds, leading to a police report for suspected embezzlement [9][10]. Group 3: Financial Impact and Future Considerations - The ongoing investigation may lead to further financial impacts on Sierte's financial statements for the first half of 2025, as the investigation into the embezzlement case is still unresolved [10]. - The company acknowledged that the scope of the investigation could expand, potentially affecting previous financial reports [11]. - Sierte specializes in the research, production, and sales of various fertilizers, focusing on quality improvement and green efficiency [11].

Core Viewpoint - The company Si Er Te is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its financial reporting and operations [1][2]. Group 1: Investigation Details - On September 1, Si Er Te announced that it received a notice from the CSRC regarding the initiation of an investigation due to suspected information disclosure violations [2]. - As of September 1, the company's stock price was 5.45 yuan per share, with a total market capitalization of 4.7 billion yuan [1]. - The company has approximately 45,000 shareholders as of the end of the second quarter [1]. Group 2: Company Operations and Impact - Si Er Te stated that it does not have any other undisclosed significant matters and that its production and operational activities are normal, indicating that the investigation will not have a major impact on its operations [4]. - The company has not yet received a final conclusion from the CSRC regarding the investigation, and the outcome will depend on the CSRC's findings [4]. Group 3: Previous Violations and Management Issues - The CSRC's Anhui bureau previously imposed administrative measures on Si Er Te due to issues related to false labor project business and improper cost accounting from 2021 to 2023, which led to inaccurate disclosures in periodic reports [5]. - The company reported that some former management personnel were involved in fabricating costs and misappropriating company funds, leading to a police report for suspected embezzlement [5]. - The ongoing investigation may reveal additional fictitious transactions that could further impact the company's financial statements for the first half of 2025 [6]. Group 4: Company Profile - Si Er Te specializes in the research, production, sales, and service of various fertilizers, including phosphate fertilizers, specialized soil testing fertilizers, organic fertilizers, and new types of fertilizers [6]. - The company focuses on reducing chemical fertilizer usage while improving quality and efficiency, utilizing soil testing and improvement as key strategies [6].

Core Viewpoint - The company Sierte (002538) has received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into alleged violations of information disclosure laws, which may impact its financial reporting and operations [1][2]. Group 1: Regulatory Actions - On September 1, the company announced it received a "Notice of Investigation" from the CSRC due to suspected violations of information disclosure regulations [1]. - In April, the company received a corrective action decision from the Anhui Securities Regulatory Bureau, citing issues related to its subsidiary's labor engineering business and accounting practices from 2021 to 2023 [4]. Group 2: Financial Performance - For the first half of the year, the company reported total revenue of 2.183 billion yuan, a year-on-year increase of 7.15% [6]. - The company experienced a significant decline in profitability, with operating profit down 40.92% to 126 million yuan and net profit down 43.60% to 95 million yuan compared to the same period last year [6]. - Total assets at the end of the reporting period were 6.326 billion yuan, a decrease of 0.92% from the beginning of the year [6]. Group 3: Management and Internal Controls - The company's board members expressed concerns regarding the accuracy and completeness of the financial report due to ongoing investigations into potential fraudulent activities by former management [6]. - The company has initiated corrective measures, including adjustments to financial data and improvements to internal controls following the findings of the regulatory authorities [5].

司尔特突发！ 9月1日晚间，司尔特（002538）公告称，公司当日收到中国证监会对公司送达的《立案告知书》，公司 因涉嫌信息披露违法违规，根据相关法律法规，中国证监会决定对公司进行立案。 公司表示，目前公司生产经营活动正常，该事项不会对公司生产经营产生重大影响。 今年4月，公司曾收到安徽证监局出具的《关于对安徽省司尔特肥业股份有限公司采取责令改正措施的决 定》（以下简称《决定书》）。 《决定书》显示，公司存在以下违规问题：2021年至2023年，司尔特全资子公司贵州路发实业有限公司 与贵州开阳某劳务有限公司、贵州开阳某劳务服务有限公司、贵州某劳务有限公司、浙江某建工有限公 司、温州某建设工程有限公司、福建某建设集团有限公司的劳务工程业务及陕西某建设集团有限公司的台 车掘进业务不真实，成本费用核算不符合企业会计准则，导致公司定期报告披露不准确，违反了《上市公 司信息披露管理办法》第三条第一款的规定。 据悉，2023年底，公司管理层在日常管理过程中发现金某辉、黄某利等部分原管理人员存在虚构成本、费 用套取公司资金的情况并向宁国市公安局以涉嫌职务侵占犯罪报案，公司已于2024年1月18日进行相关信 息披露。2025 ...

Group 1 - The core point of the article is that Sierte (002538.SZ) has received a notice from the China Securities Regulatory Commission (CSRC) regarding a formal investigation for suspected violations of information disclosure, with potential implications for the company's financial reporting [1][3] - As of the announcement date, Sierte reported that there are no other undisclosed significant matters, and its production and operational activities are normal, indicating that the investigation is not expected to have a major impact on its operations [3][4] - In the first half of 2025, Sierte achieved total operating revenue of 2.183 billion yuan, representing a year-on-year increase of 7.15%, while the net profit attributable to shareholders decreased by 43.60% to 95 million yuan [4] Group 2 - On September 1, Sierte's stock price fell by 1.98%, closing at 5.45 yuan per share, reflecting market reactions to the investigation news [5][6] - The company's market capitalization is reported at 4.652 billion yuan, with a price-to-earnings ratio of 19.56 [6]

Core Viewpoint - The company Sierte (002538) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its financial statements and operations in the future [1][2]. Company Overview - Sierte is a modern high-tech listed company based in the Ningguo Economic and Technological Development Zone, specializing in the research, production, and sales of various fertilizers, including phosphate fertilizers and ecological fertilizers [2]. - The company has developed a strong industrial structure over more than 30 years, focusing on agricultural support and new emerging industries, ranking among the top in China's fertilizer and phosphate fertilizer sectors [2]. Financial Performance - For the first half of 2025, Sierte reported revenue of 2.183 billion yuan, a year-on-year increase of 7.15%, while net profit was 95.18 million yuan, reflecting a significant decline of 43.6% compared to the previous year [2]. - The increase in costs was attributed to rising international sulfur prices and significant increases in domestic sulfur, sulfuric acid, and potassium fertilizer procurement prices, leading to a decrease in gross profit margin [2]. Market Position - As of September 1, Sierte's stock price was 5.45 yuan per share, with a total market capitalization of 4.652 billion yuan [3].

Core Viewpoint - Anhui Sierte Fertilizer Co., Ltd. has been placed under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, although the company has indicated that its production and operations remain normal and the matter has not yet had a significant impact on its business [1] Group 1 - The company received a notice of investigation from the China Securities Regulatory Commission on September 1, 2025, due to alleged information disclosure violations [1] - The company had previously disclosed related risks in its annual and semi-annual reports [1] - Current production and operations of the company are reported to be normal [1]

Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Core View of the Report - The report suggests paying attention to the 15 reverse spread opportunity in the urea market. The current domestic supply - demand situation of urea remains weak, but there are positive expectations after the parade and due to the Indian tender. The second - batch of urea exports will support the demand side, and there may be a phased rebound. However, the agricultural demand is weakening, and the fundamentals will continue to face pressure in the second half of the year. The 01 contract of urea is expected to fluctuate between 1650 and 1850 [2][5]. Summary by Relevant Catalogs Supply - Some enterprises such as Shaanxi Aowei Qianyuan Chemical, Henan Jinkai Chemical, and Hulunbuir Jinxin Chemical carried out maintenance this period. Enterprises that resumed production include Shaanxi Shanhua Coal Chemical, Henan Jinkai Chemical, and Jingyuan Coal Industry Group. The daily urea output next week will be around 200,000 tons [4]. Inventory - As of August 27, 2025, the inventory of Chinese urea production enterprises was 1085,800 tons, an increase of 61,900 tons from last week, a 6.05% increase month - on - month. The total inventory at Chinese ports was 600,000 tons, an increase of 99,000 tons month - on - month, a 19.76% increase [4]. Demand - Domestic demand remains weak. The agricultural top - dressing demand in the northern region has basically ended. The compound fertilizer industry has a large sales pressure on finished products recently, with a low operating rate, limited demand for urea raw materials, and low acceptance of high - priced urea supplies [4]. Spot - On Sunday this week, the price in Shandong was 1660 (01 basis - 86), and in Henan was 1670 (01 basis - 76) [5]. Strategy - The short - term supply - demand weakness persists, but there are positive expectations. Pay attention to the 15 reverse spread opportunity during the Indian tender on September 2. In the medium term, the second - batch of exports will support demand, and there may be a phased rebound. However, the agricultural demand is weakening, and the 01 contract is expected to fluctuate between 1650 and 1850 [5].