Core Viewpoint - The company Korysi (301314.SZ) has received regulatory penalties from the Guangdong Securities Regulatory Bureau due to multiple violations, including issues related to related party transactions, fundraising usage, and management of insider information [1][2]. Group 1: Regulatory Violations - Korysi was found to have inconsistencies in the aging calculation of receivables, failure to properly disclose related party transactions, and irregularities in the management and use of raised funds [1]. - The company did not disclose the leasing of a factory from a related party during the review of daily related party transactions from May 2018 to December 2024, and failed to disclose this in its 2023 annual report [1]. - Korysi also had discrepancies in reported sales figures with Deyang Hongyi Electronics Co., Ltd. regarding related party transactions [1]. Group 2: Fundraising and Project Management - The company's fundraising projects, including the "High-end Fully Automatic Precision Magnetic Component Winding Equipment Technology Upgrade and Expansion Project" and the "Innovation R&D Center Project," were improperly accounted for, leading to discrepancies in reported progress [2]. - Korysi raised approximately 600 million yuan through its IPO in March 2023, with funds allocated to the aforementioned projects and working capital [2]. - As of June 2025, the investment progress for the three major IPO fundraising projects was reported at 55.17%, 44.17%, and 99.99%, with an overall investment progress of 61.99% [2]. Group 3: Financial Performance - Korysi's financial performance has been declining, with revenues of 307 million yuan, 218 million yuan, and 170 million yuan from 2022 to 2024, reflecting year-on-year decreases of 18.56%, 28.75%, and 22.39% respectively [3]. - The company's net profit attributable to shareholders also decreased significantly, from 103 million yuan in 2022 to 17.8 million yuan in 2024, with declines of 17.36%, 65.9%, and 49.11% year-on-year [3]. - In the first three quarters of 2025, Korysi reported revenue of 128 million yuan, a year-on-year increase of 2.88%, but the net profit attributable to shareholders decreased by 22.19% [3].