又一家公司涉嫌财务造假！ 12月3日，香港证券及期货事务监察委员会(以下简称"香港证监会")已根据相关规则指示香港联合交易所有限公司(联交所)，自2025年12月3日上午9时正 起，暂停大山教育(09986.HK)的股份交易。 证券时报记者了解到，在3日上午时，大山教育确已发布停止交易公告，但该公告并未透露更多原因。 香港证监会表示，为了在调查持续进行期间维持公平有序的市场和保障投资大众的利益，现阶段暂停大山股份的交易是可取的做法。 夸大银行结余数千万元 | | ·A A +A Eng 繁 简 网站指南 (2) 常见问题 � 费格 ▼ 如何作出投诉 三 传媒专用区 | | 联络党们 | | | Q 搜寻 | 9 in & O O | | --- | --- | --- | --- | --- | --- | --- | --- | | SFC 證監會 | 规则及标准 | 本会简介 | 监管职能 | 资料库 | 新闻稿及公布 | 加入本会 | 警示名单 | | 新闻稿 | 主页 > 新闻稿及公布 v> 新闻稿 v> 所有新闻稿 | | | | | | | | ● 所有新闻稿 | | | | | | | | | ...

Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) has ordered the suspension of trading for Da Shan Education (09986.HK) starting December 3, 2025, due to ongoing investigations into financial discrepancies and potential fraud [1][3][10]. Group 1: Trading Suspension - The SFC indicated that suspending Da Shan's shares is necessary to maintain a fair and orderly market while investigations are ongoing [3]. - Da Shan Education announced the trading halt on December 3, 2025, but did not provide further details regarding the reasons for the suspension [1]. Group 2: Financial Discrepancies - Da Shan Education's shares were previously suspended on March 30, 2023, after its former auditor identified several audit issues, including discrepancies related to software development projects and a UK acquisition [5]. - The SFC discovered significant differences between bank statements provided by Da Shan and those obtained independently, leading to suspicions of inflated bank balances by RMB 36.4 million and RMB 76.3 million as of June 30 and December 31, 2023, respectively, which represented 19% and 55% of the reported net asset value [5][6]. Group 3: Management Integrity Concerns - The SFC raised concerns about the integrity of Da Shan's management, particularly regarding the authenticity of the software development and UK acquisition transactions, as well as the submission of potentially forged bank statements [6]. - The SFC suspects that the resumption of trading in September 2024 was based on misleading information provided by Da Shan [6][10]. Group 4: Financial Performance - Da Shan Education has reported continuous losses since 2021, with a revenue of approximately RMB 41.5 million for the first half of 2024, a decrease of about RMB 6 million year-on-year, and a loss of approximately RMB 45.9 million compared to a loss of RMB 0.88 million in the same period the previous year [14]. - The company's cash reserves have significantly declined, with bank balances dropping by approximately 62.9% from RMB 5.2 billion at the end of 2024 to RMB 1.93 billion by June 30, 2025 [14].

Core Viewpoint - Daxian Education (stock code: 9986) announced a financing plan to raise HKD 100 million by issuing 100 million shares at a price of HKD 1.04 per share, which represents a discount of approximately 18.8% from the previous closing price of HKD 1.28 [1] Group 1: Financing Details - The financing will be conducted without the involvement of intermediaries [1] - The placement shares represent about 12.5% of the existing issued share capital and will account for approximately 11.1% of the enlarged share capital after completion [1] - The funds raised will be used to expand the company's diversified consulting services, including brand operation and management [1] Group 2: Market Context - The placement price is at a discount of approximately 19.9% compared to the average closing price over the last five trading days, which was HKD 1.298 [1] - The completion of the issuance is expected within three business days after the fulfillment of conditions or on another date agreed upon by the company and the seller [1]