Group 1 - The core point of the article is that the company, Luqiao Information, announced a change in the legal representative of its subsidiary, Hunan Xiangxin Zhiliang Information Technology Co., Ltd., due to operational management needs [2] - The company has completed the industrial and commercial change registration procedures [2] - The new business license was issued by the Market Supervision Administration of Yuhua District, Changsha City [2]

Core Viewpoint - The company, Luqiao Information, which was celebrated as a "pioneer in smart transportation," has been exposed for significant financial fraud, leading to a drastic decline in its reported profits and revenues within a year of its IPO [2][9][27]. Group 1: Financial Fraud and Impact - Luqiao Information inflated profits by over 37 million and revenue by more than 40 million over two years, with net profit plummeting from 22.81 million in 2024 to just 3.72 million in 2025 [2][6]. - The company's financial manipulation involved false contracts, fictitious sales, and premature revenue recognition, resulting in a total inflated profit of 37.76 million [6][8]. - Following the exposure of the fraud, the company faced a fine of 6 million, and key executives were penalized, highlighting a complete collapse of internal controls and raising serious doubts about the authenticity of its financial data and governance [9][25]. Group 2: Business Performance and Structure - Luqiao Information's revenue has stagnated between 200 million to 300 million over the past seven years, indicating a lack of market expansion and reliance on a limited customer base, with nearly 90% of revenue coming from Fujian province [14][10]. - The company's three main business segments experienced severe declines, with rail transit revenue dropping by 85%, smart parking by 36%, and highway traffic by 67% in the first half of 2025 [15][19]. - The company's financial performance has deteriorated significantly, with a non-recurring net profit of only 42,540 in 2024, a 91% year-on-year drop, and a 50% reduction in revenue in the first three quarters of 2025 [15][17]. Group 3: Future Prospects and Challenges - The financial fraud has severely damaged the company's credibility, making future financing and new orders, especially from outside its home province, highly challenging [25][21]. - The company raised 97.68 million during its IPO for projects like smart parking, but by September 2025, only 41% of the overall investment had been utilized, with less than 10% for the smart parking project [22][23]. - The ongoing legal repercussions, including potential investor lawsuits and the risk of being delisted, pose significant threats to the company's future operations and viability [25][26].

Group 1 - The core issue involves the administrative penalty notice issued to Luqiao Information by the Xiamen Regulatory Bureau of the China Securities Regulatory Commission, indicating that the company is under investigation for financial information disclosure violations [1][5] - Luqiao Information's stock price dropped by 8.13% to 38.77 yuan per share following the exposure of the financial fraud incident [2][6] - A window for investor claims has opened, allowing affected investors who purchased shares between April 22, 2024, and September 29, 2025, to seek compensation [2][6] Group 2 - The investigation revealed that Luqiao Information engaged in financial fraud for two consecutive years, specifically inflating revenue by 15.836 million yuan in 2023, which accounted for 6.66% of the reported revenue [2][6] - In 2023, the company also inflated profits by 15.3071 million yuan, representing 73.57% of the total reported profit [3][7] - In 2024, the fraudulent activities escalated, with inflated revenue of 25.764 million yuan, making up 10.71% of the reported revenue, and inflated profits of 22.4593 million yuan, exceeding the reported profit by 103.5% [4][8]

Core Viewpoint - Xiamen Road and Bridge Information Co., Ltd. is facing administrative penalties from the Xiamen Securities Regulatory Bureau due to false disclosures in its annual reports, which included inflated revenue and profits for 2023 and 2024 [1][5]. Summary by Relevant Sections Violations - The company is accused of inflating its revenue by CNY 15,835,974.32 in 2023 and CNY 25,764,001.49 in 2024, which represent 6.66% and 10.71% of the reported annual revenue for those years respectively [1][5]. - Additionally, profits were inflated by CNY 15,307,059.32 in 2023 and CNY 22,459,275.84 in 2024, accounting for 73.57% and 103.50% of the reported total profits for those years respectively [1][5]. Compensation Related - Investors who purchased shares of Road and Bridge Information between April 23, 2024, and September 29, 2025, and continued to hold or sell at a loss after September 30, 2025, are entitled to claim compensation for their losses [3][7]. - The conditions for compensation are subject to court determination, and the legal opinion provided by attorney Chen Yuxia is not a definitive investment decision [3][7]. Required Materials for Claim - Investors participating in the compensation claim must prepare the following documents: 1. Stock transaction statements covering the period from the first purchase to the complete sale or the date of the statement [8]. 2. A copy of their identification [8]. - Legal fees for representation are typically on a contingency basis, meaning no upfront fees are required, and payment is only made upon winning the case [8].

Core Viewpoint - Xiamen Road and Bridge Information Co., Ltd. has been penalized for financial misconduct, including inflating revenue and profits through false contracts and premature revenue recognition, resulting in a fine of 6 million yuan [1][2][4]. Group 1: Company Penalty Details - The company received an administrative penalty notice from the Xiamen Securities Regulatory Bureau on December 31, 2025, for violating information disclosure regulations [1][4]. - The company was found to have inflated its operating income by 15.836 million yuan and profit by 15.3071 million yuan in 2023, and by 25.764 million yuan and profit by 22.4593 million yuan in 2024 [1][4]. Group 2: Investor Compensation - Investors who purchased shares between April 22, 2024, and September 28, 2025, and still hold them, may voluntarily register for compensation through the "Sina Investor Rights Protection Platform" [2][5]. - The specific compensation range will be determined by the court [5].

受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 2025年12月31日，路桥信息（920748）公收到证监会厦门监管局下发的 《行政处罚事先告知书》，上 海久诚律师事务所股票索赔律师许峰提示，至此，路桥信息所涉嫌的虚假陈述违法事实已基本清晰，投 资者如果因此受损，目前已可发起索赔。（许峰律师专栏） 上述《行政处罚事先告知书》公告信息显示，经查，路桥信息及相关人员违法事实如下： 路桥信息涉嫌通过签订虚假合同、虚构销售业务、提前确认收入等方式，2023年、2024 年分别虚增营 业收入 15，835，974.32 元、25，764，001.49 元，分别占公 司披露 2023 年度、2024 年度营业收入的 6.66%、10.71%；虚增利润 15，307，059.32 元、22，459，275.84 元，分别占公司披露 2023 年度、 2024 年度利润总额的 73.57%、103.50%。2025 年 9 月 29 日，路桥信息发布《前期会计 ...

受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 2025年12月31日晚，厦门路桥信息股份有限公司（简称：路桥信息，证券代码：920748）发布《关于公 司及相关当事人收到中国证监会厦门证监局行政处罚事先告知书的公告》。 曾代理投资者告赢130余家上市公司并获赔的浙江裕丰律师事务所厉健律师表示，根据处罚预告，路桥 信息涉嫌证券虚假陈述，受损投资者可依法索赔。（厉健律师专栏） 厦门证监局查明，路桥信息及相关人员违法事实如下：路桥信息涉嫌通过签订虚假合同、虚构销售业 务、提前确认收入等方式，2023年、2024 年分别虚增营业收入 15，835，974.32 元、25，764，001.49 元，分别占公司披露 2023 年度、2024 年度营业收入的 6.66%、10.71%；虚增利润 15，307，059.32 元、22，459，275.84 元，分别占公司披露 2023 年度、2024 年度利润总额的 73.57%、103.50%。2025 年 ...

受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 2025年12月31日晚间，路桥信息发布《关于公司及相关当事人收到中国证券监督管理委员会厦门监管局 行政处罚事先告知书的公告》。公告显示：厦门路桥信息股份有限公司于2025年10月14日收到中国证券 监督管理委员会下发的《立案告知书》 （证监立案字0282025016号），2025年12月31日，公司收到中国证券监督管理委员会厦门监管局下发的 《行政处罚事先告知书》（厦证监处罚字[2025]17号）。 （证监立案字0282025016号），2025年12月31日，公司收到中国证券监督管理委员会厦门监管局下发的 《行政处罚事先告知书》（厦证监处罚字[2025]17号）。 根据厦门证监局下达的行政处罚事先告知书显示，路桥信息涉及的主要违规为：路桥信息涉嫌通过签订 虚假合同、虚构销售业务、提前确认收入等方式，2023年、2024年分别虚增营业收入15，835，974.32 元、25，764，001.49 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 2025年12月31日，厦门路桥信息股份有限公司（简称：路桥信息，代码：920748）发布《关于公司及相 关当事人收到中国证券监督管理委员会厦门监管局行政处罚事先告知书的公告》。 经中国证监会厦门监管局查明，路桥信息及相关人员违法事实如下： 路桥信息涉嫌通过签订虚假合 同、虚构销售业务、提前确认收入等方式，2023年、2024年分别虚增营业收入15，835，974.32元、 25，764，001.49 元，分别占公司披露2023年度、2024年度营业收入的6.66%、10.71%；虚增利润15， 307，059.32元、22，459，275.84元，分别占公司披露2023年度、2024年度利润总额的73.57%、 103.50%。2025年9月29日，路桥信息发布《前期会计差错更正公告》，对涉及上述影响的相关定期财 务报表数据进行了更正。故中国证监 ...

Core Viewpoint - The news discusses ongoing legal actions against Zhejiang Furun and Luqiao Information for financial misconduct, highlighting the potential for investor claims due to false financial reporting and the importance of timely legal action for affected investors [1][2][4][5]. Summary by Sections Zhejiang Furun - Zhejiang Furun has been found to have inflated its operating income by a total of 717,225,918.88 CNY and operating costs by 715,512,264.14 CNY from 2020 to mid-2022 [1][4]. - Specific years of inflated figures include: - 2020: Operating income inflated by 365,766,164.15 CNY (12.04% of reported amount) and costs by 364,924,901.98 CNY (13.30%) - 2021: Operating income inflated by 142,612,952.84 CNY (10.87%) and costs by 143,233,987.18 CNY (11.11%) - 2022 (first half): Operating income inflated by 208,846,801.89 CNY (69.05%) and costs by 207,353,374.98 CNY (69.79%) [1][4]. - Investors who purchased shares between April 27, 2021, and April 28, 2023, may still file claims, but the statute of limitations is running out [2][5]. Luqiao Information - Luqiao Information is under investigation by the China Securities Regulatory Commission (CSRC) for financial reporting violations, with a notice of case filing issued on October 14, 2025 [2][5]. - The company has acknowledged prior accounting errors and has been ordered to correct its financial reporting due to significant internal control deficiencies affecting the accuracy of its 2023 and 2024 financial statements [2][5]. - Investors who bought Luqiao Information shares between April 23, 2024, and September 30, 2025, can also initiate claims [3][6].