Core Viewpoint - Jinsheng New Materials is under investigation by the China Securities Regulatory Commission (CSRC), but the company asserts that its normal operations will not be significantly affected during this period [2]. Company Overview - Established in 1998, Jinsheng New Materials specializes in the research, production, and sales of acrylic containers, primarily for cosmetic plastic packaging [2]. - The company offers over 1,000 product specifications, including cream jars and lotion bottles, serving well-known clients such as Estée Lauder and Shanghai Jahwa [2]. - As of March 2025, the actual controllers of the company are the couple Ruan Rongtao and Gao Lijun, who hold a combined 35.11% of the shares [2]. Financial Performance - Since its IPO in July 2020, Jinsheng New Materials has experienced a significant decline in profitability, transitioning from a profit of 34.49 million yuan in its first year to a loss of 22.51 million yuan in 2022 [3]. - Cumulatively, the company has reported losses exceeding 69 million yuan over three consecutive years from 2022 to 2024 [3]. - The gross profit margin has drastically decreased from over 30% between 2016 and 2020 to 23.14% in the year following its IPO, and further down to 8.73% in 2022, representing a nearly 80% drop in two years [6]. Regulatory Environment - The management has acknowledged that various factors influence the company's financial performance and has committed to improving operational management [4]. - The company faces heightened risks due to new delisting regulations, which could impose risk warnings for companies penalized for information disclosure violations, particularly concerning Jinsheng New Materials' ongoing losses [4].

Core Viewpoint - Zhejiang Jinsong New Materials Co., Ltd. is under formal investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its stock performance and investor confidence [1][9]. Group 1: Company Overview - Jinsong New Materials, established in 1998, specializes in the research, production, and sales of plastic packaging containers for cosmetics, with over 1,000 product specifications [2]. - The company serves well-known clients such as Estée Lauder, Shanghai Jahwa, and Huaxi Biological [2]. - As of March 2025, the actual controllers of the company, Ruan Rongtao and Gao Lijun, hold a combined 35.11% of the company's shares [2]. Group 2: Financial Performance - Since its IPO in July 2020, the company has experienced a significant decline in profitability, with net profit dropping from 34.49 million yuan in 2020 to a loss of 22.51 million yuan in 2022 [3]. - The company has reported cumulative losses exceeding 69 million yuan over three consecutive years from 2021 to 2024 [3]. - The gross profit margin has decreased sharply from over 30% between 2016 and 2020 to 23.14% in 2021 and further down to 8.73% in 2022, indicating a nearly 80% decline in two years [6]. Group 3: Regulatory Environment - The company has committed to cooperating with the CSRC during the investigation and has stated that its normal business operations will not be significantly affected [2]. - The recent investigation highlights a "zero tolerance" approach by regulatory authorities towards information disclosure violations, as evidenced by penalties imposed on other companies [9]. - The new delisting rules pose additional risks for Jinsong New Materials, as administrative penalties for disclosure violations could lead to risk warnings, exacerbating the challenges faced by a company already experiencing continuous losses [11].

Core Viewpoint - Jinsheng New Materials is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its operations and reputation in the market [2][4]. Company Overview - Jinsheng New Materials specializes in the research, production, and sales of plastic packaging containers for cosmetics, offering over 1,000 product specifications to well-known brands such as Estée Lauder, Oushiman, and Shanghai Jahwa [4]. - The company was officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market on July 10, 2020 [4]. Financial Performance - The company's financial performance has deteriorated significantly since its second year post-listing, transitioning from profit to loss starting in 2022. Although there was a slight increase in net profit in 2024, the company remains in a net loss position [4]. - The cumulative losses over the past three years exceed 69 million yuan [5]. - As of March 31, 2025, the total operating revenue was approximately 744.34 million yuan, reflecting a year-on-year increase of 10.97% [5]. - The total operating costs were approximately 770.59 million yuan, leading to an operating loss of approximately 39.90 million yuan [5]. - The net profit for the same period was approximately -38.36 million yuan, marking a year-on-year decrease of 290.10% [5]. Market Position - As of June 27, 2025, Jinsheng New Materials' stock closed at 16.48 yuan per share, with a total market capitalization of 2.5 billion yuan [5].