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].

【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 ...

【导读】因涉嫌信息披露违法违规，卓然股份及实控人被立案 中国基金报记者 李智 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。 卓然股份表示，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。 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 ...

Core Viewpoint - The company is implementing a restricted stock incentive plan aimed at attracting and retaining key talent, aligning employee interests with those of shareholders, and enhancing overall competitiveness and long-term growth [9][10][25]. Summary by Sections Incentive Plan Overview - The incentive plan is based on various legal frameworks including the Company Law of the People's Republic of China and the Stock Incentive Management Measures [1][2]. - The plan involves granting 6.447 million restricted shares, accounting for 2.76% of the company's total share capital of 23,361.4003 million shares [2][3]. Granting Conditions - The grant price for the restricted shares is set at 6.28 yuan per share, with adjustments possible based on corporate actions such as stock dividends or capital increases [2][19]. - A total of 53 individuals will be eligible for the incentive plan, representing 8.02% of the company's total workforce of 661 employees [3][14]. Performance and Vesting - The plan's validity extends up to 36 months from the first grant date, with shares vesting based on both company performance and individual performance metrics [3][16]. - The performance assessment will be based on revenue and net profit growth compared to the base year of 2024 [22][25]. Management and Oversight - The plan will be managed by the company's board of directors, with a remuneration and assessment committee responsible for drafting and revising the plan [10][11]. - The plan requires approval from the shareholders' meeting and must be executed within 60 days of approval [10][30]. Adjustments and Compliance - Adjustments to the number of shares and grant prices will be made in response to corporate actions such as stock splits or dividends [26][27]. - The plan ensures compliance with regulations prohibiting stock incentives under certain conditions, such as negative audit opinions or violations of profit distribution laws [20][21]. Financial Implications - The estimated total expense for the stock grants will be amortized over the vesting period, impacting the company's financial statements [28]. - The plan is expected to enhance employee motivation and align their interests with the company's long-term performance, thereby positively influencing overall business outcomes [19][25].

1. Report Industry Investment Rating - No information provided in the document. 2. Core View of the Report - The petrochemical industry in 2024 had an overall revenue increase but a profit decline. The high - end chemical production in China achieved remarkable results, and the industry made progress in green production and energy - saving. The petrochemical special equipment industry is in a crucial transformation stage with new development opportunities, especially in high - end equipment manufacturing, energy - saving and environmental protection technology, and intelligent control systems. The report also details the development strategies and performance of Zhuoran Co., Ltd. [23][25] 3. Summaries According to Relevant Catalogs 3.1. Research Basic Situation - The research object is Zhuoran Co., Ltd., which belongs to the special equipment industry. The reception time was May 20, 2025. The listed company's reception staff included the chairman, general manager, board secretary, financial director, and independent director [16]. 3.2. Detailed Research Institutions - The reception object is investors who participated in the company's 2024 annual and Q1 2025 performance and cash dividend briefing, and the reception object type is "other" [19]. 3.3. Research Institutions Proportion - No information provided in the document. 3.4. Main Content Data - **Industry Performance in 2024**: The petrochemical industry realized an operating income of 16.28 trillion yuan, a year - on - year increase of 2.1%; the total profit was 789.71 billion yuan, a year - on - year decrease of 8.8%. China's high - end chemical production had excellent results, with successful R & D of high - performance materials and growth in the output of environmentally friendly plastics and special synthetic materials. The industry also made progress in green production and energy - saving [23]. - **Company Performance in 2024**: The company achieved an operating income of 2.838 billion yuan, and the net profit attributable to the parent company's owners was 94.7692 million yuan. As of December 31, 2024, the company's total assets were 8.709 billion yuan, and the net assets attributable to listed company shareholders were 2.543 billion yuan [24]. - **Industry Development Prospect**: The global petrochemical industry is in a major transformation, with four development themes: in - depth restructuring of the industrial structure towards high - value - added areas, accelerated transformation of the energy system towards low - carbon, key breakthroughs in core technology research, and systematic reshaping of the global industrial competition pattern. The petrochemical special equipment industry will have new development opportunities [25]. - **Company Development Strategy**: The company will adhere to the development concept of "innovation - led and green - enabled", implement four strategic measures, and build a "four - in - one" development system. It will focus on innovation - driven development, green transformation, digital intelligence, and open cooperation [26]. - **Engineering General Contract Business**: The increase in the company's engineering general contract service revenue is due to the change in the structure of on - hand orders. The company has the strength to compete with international brands, has a presence in 16 overseas countries, and actively expands the international market, with relatively small impact from geopolitics and exchange losses [27]. - **Company's Future Profit Growth Drivers**: The company will focus on the national "dual - carbon" goal and new industrialization strategy, adhere to high - end, green, and intelligent development, consolidate traditional business advantages, and layout emerging industries. It will implement various measures to improve core competitiveness and achieve sustainable growth [28]. - **Employee Incentive**: The company completed the share repurchase in 2024, and the repurchased shares will be used for employee stock ownership plans or equity incentives [29].