Core Viewpoint - ST HuLuWa Pharmaceutical (605199.SH) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, following significant corrections to its financial statements, including a nearly 90% reduction in net profit for 2023 [1][3][4]. Financial Performance - The company's 2023 revenue was adjusted from 1.905 billion yuan to 1.795 billion yuan, and the net profit was revised down from 106 million yuan to 10.85 million yuan, a decrease of 89.81% [4]. - For 2024, the company expects a revenue of 1.414 billion yuan, a year-on-year decline of 21.26%, and a net loss of 274 million yuan, a staggering year-on-year drop of 2629.23% [9][10]. Sales and Product Performance - Sales of key products have significantly declined, with core items like "Chuanlian Ning Capsules" and "Fangban Langen Granules" seeing sales drop by 59.10% and 44.10% respectively [10][12]. - The company reported a 33.88% year-on-year decline in total revenue for the first three quarters of 2025, amounting to 683 million yuan, with a net loss of 11.21 million yuan [12]. Management and Governance Issues - The company has faced multiple management changes, including the resignation of its chairman Liu Jingping from the general manager position and subsequent reappointment [8]. - The CSRC's investigation follows previous reprimands from the Shanghai Stock Exchange for failing to disclose performance losses in a timely manner [1][4][7].

Core Viewpoint - ST HuLuWa's recent announcement regarding the investigation by the China Securities Regulatory Commission (CSRC) due to alleged information disclosure violations has led to a significant decline in its stock price, highlighting ongoing operational challenges and internal control deficiencies [1][2]. Financial Performance - In 2024, the company's total operating revenue decreased by 21.26%, and it reported a net loss of 274 million yuan, marking a staggering year-on-year decline of 2629.23% [1]. - The Q3 2025 report indicated a continued revenue decline of 33.88%, with a net loss attributable to shareholders of 11.21 million yuan [1]. Internal Control Issues - In April 2025, the company received an audit report with a disclaimer of opinion regarding its internal control over financial reporting, leading to risk warnings on its stock [2]. - The Shanghai Stock Exchange criticized the company for inaccuracies in multiple financial reports, with significant amounts involved and high correction ratios, implicating the former chairman and CFO in the violations [2]. Shareholder Concerns - The controlling shareholder's nearly 24 million shares have been judicially frozen, raising concerns about the stability of control and the company's future financing capabilities [2]. Industry Implications - The case of ST HuLuWa serves as a warning to other listed companies about the importance of robust internal controls and accurate information disclosure, as lapses can lead to significant risks [3]. - The company must cooperate with the CSRC investigation, identify root causes of issues, and implement effective corrective measures to restore market confidence [3].

ST葫芦娃（维权）及董事长于2025年12月26日分别收到证监会下发的《立案告知书》，因涉嫌信息披 露违法违规被立案调查。 公告中，公司并未披露涉嫌信息披露违法违规的具体细节，仅表示各项生产经营活动正常有序开展，并 将积极配合调查。 实际上，今年以来ST葫芦娃已因财务信息披露问题多次收到监管警示，公司股票自2025年4月30日起被 实施其他风险警示。 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！ 一、公司及董事长被立案调查 （本文由上海沪紫律师事务所刘鹏律师供稿，不代表新浪财经的观点。刘鹏律师，专注证券维权19年， 自2006年执业以来，成功为中青宝、国华网安、劲嘉股份（维权）等 300 余家上市公司的中小投资者成 功维权，案件在办数量超过 14000 起，胜诉率达 99.2%。作为业内资深证券维权律师，刘鹏律师精准把 握案件核心，诉讼经验丰富，索赔策略高效，为投资者争取最大权益，维权实力行业 ...

格隆汇12月29日｜ST葫芦娃（维权）(605199.SH)一字跌停，报8.41元，封单近10万手。ST葫芦娃公告，公司及公司董事长刘景萍于12月26日分别收到中国 证监会下发的《立案告知书》。因公司及公司董事长刘景萍涉嫌信息披露违法违规，中国证监会决定对公司和刘景萍立案。目前，公司各项生产经营活动正 常有序开展，在立案调查期间，公司将积极配合中国证监会的相关调查工作，并严格按照有关法律法规及监管要求履行信息披露义务。(格隆汇) 登录新浪财经APP 搜索【信披】查看更多考评等级 ...

Core Viewpoint - ST HuLuWa (605199.SH) experienced a limit down, closing at 8.41 yuan with nearly 100,000 sell orders, following the announcement of an investigation by the China Securities Regulatory Commission (CSRC) regarding alleged violations of information disclosure laws by the company and its chairman Liu Jingping [1] Group 1 - The company and its chairman received a "Notice of Investigation" from the CSRC on December 26 due to suspected illegal information disclosure [1] - The CSRC has decided to initiate an investigation against the company and Liu Jingping [1] - Despite the investigation, the company stated that all production and operational activities are currently proceeding normally and in an orderly manner [1] Group 2 - The company will actively cooperate with the CSRC during the investigation and will adhere to relevant laws, regulations, and disclosure obligations [1]

Core Viewpoint - Six listed companies, including ST HuLuWa, ST ChangYuan, ZhenLei Technology, PaiRui Co., and DaYe Intelligent, have been announced to be under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, marking a rare occurrence of multiple companies being investigated simultaneously [1][2][3]. Group 1: Companies Under Investigation - The companies involved are ST HuLuWa, ST ChangYuan, ZhenLei Technology, PaiRui Co., and DaYe Intelligent, all of which have been reported to be under investigation by the CSRC [1][2]. - ST HuLuWa has previously faced investor claims due to inaccuracies in its financial disclosures, particularly regarding its 2023 annual report, which indicated issues with revenue and profit reporting [2][5]. - PaiRui Co. disclosed that it received a notice from the CSRC regarding a sales contract in 2024, which had accounting errors related to revenue recognition [2][5]. Group 2: Legal Implications for Investors - Investors who purchased shares of the aforementioned companies before December 26, 2025, and sold or held them after December 27, 2025, may be eligible for compensation, pending the outcome of the CSRC's administrative penalties [3][6]. - The specific conditions for compensation will be determined after the CSRC issues its administrative penalties, and adjustments may be made based on court rulings [3][6].

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/ 1． 于2024年8月29日至2025年4月22日期间买入ST葫芦娃股票，并且在2025年4月23日收盘时卖出 或仍持有的投资者； 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！ 2024年12月28日，ST葫芦娃（维权）发布公告称，公司于12月26日收到中国证监会下发的《立案告知 书》。公告显示：海南葫芦娃药业集团股份有限公司及公司董事长刘景萍因涉嫌信息披露违法违规，根 据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，中国证监会决定对公司和刘 景萍立案。 ST葫芦娃在公告中表示，目前，公司各项生产经营活动正常有序开展，在立案调查期间，公司将积极 配合中国证监会的相关调查工作。 上海百悦律师事务所牛彬律师表示，ST葫芦娃及其实控人因涉嫌信息披露违法违规被证监会立案，相 关受损投资者或可依法索赔。暂定，符合以下任一区间条件的亏损投资者，可发起索赔预登记：（葫芦 娃维权入口） 2． ...

Core Viewpoint - Hainan Huluwa Pharmaceutical Group Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, leading to potential civil compensation claims from affected investors [1][2][6]. Group 1: Company Announcement - On March 15, 2025, Huluwa announced that it received a notice of investigation from the CSRC due to alleged information disclosure violations by the company and its chairman, Liu Jingping [1][6]. - The CSRC previously issued an administrative regulatory decision on the same day, identifying inaccuracies in the financial disclosures of the 2023 annual report, including revenue and profit figures [6]. Group 2: Financial Data Correction - On April 29, 2025, Huluwa released a correction notice regarding prior accounting errors affecting the financial data in the 2023 annual report and the 2024 semi-annual, first quarter, and third quarter reports [1][6]. Group 3: Investor Compensation - Investors who purchased Huluwa's stocks or bonds between April 27, 2024, and March 14, 2025, and sold or continued to hold them after March 15, 2025, may register for compensation claims [2][6]. - The compensation scope includes investment differences, commissions, stamp duties, and interest losses due to the alleged fraudulent activities [2][6]. Group 4: Legal Proceedings - Investors are advised that while they can initiate lawsuits without an administrative penalty decision, the lack of such a decision may increase the risk of losing the case [3][7]. - The progress of civil compensation lawsuits may be affected by the company's potential delisting or bankruptcy proceedings [8].

Group 1 - Hubei Yihua has received acceptance from the Shenzhen Stock Exchange for its application to issue convertible bonds to unspecified objects [1] - Tongye Technology plans to acquire 91.69% of Beijing Silingke Semiconductor Technology Co., Ltd. for a total price of 561 million yuan [2] - Heng Rui Medicine has signed an exclusive licensing agreement with Hansoh Pharmaceutical, which includes a payment of 30 million yuan and potential milestone payments up to 190 million yuan [3] Group 2 - Jun Da Co. announced that its strategic cooperation framework agreement with Shangyi Optoelectronics will not significantly impact its current operating performance [4] - Jinchuan Group's wholly-owned subsidiary is jointly investing in a venture capital partnership to invest in Shanghai Gesi Information Technology Co., Ltd. [5] - Baili Tianheng plans to apply for the registration of debt financing tools not exceeding 10 billion yuan [6] Group 3 - Yuanda Environmental Protection announced the resignation of its chairman Chen Bin due to work changes [7] - Aerospace Development reported that its subsidiary's revenue accounted for less than 1% of the total revenue in the first three quarters of 2025 [8] - ST Huluwawa and its chairman Liu Jingping are under investigation by the China Securities Regulatory Commission for information disclosure violations [10] Group 4 - Jia Mei Packaging confirmed that it has no plans for significant changes to its main business or for a reverse merger in the next 36 months [11] - Wangfujing has won the bid for the duty-free project at Beijing Capital International Airport, with a guaranteed operating fee of 113 million yuan for the first year [12] - Siwei Liekong has suspended trading due to potential changes in control [13] Group 5 - Zhongchao Holdings announced a tax payment and late fee totaling 8.2881 million yuan [14] - Yongshuntai plans to conduct foreign exchange derivative trading with a total amount not exceeding 1.7 billion yuan in 2026 [15] - Guojin Securities has been approved to publicly issue company bonds not exceeding 25 billion yuan [16] Group 6 - Jincheng Pharmaceutical's subsidiaries are required to pay a total of 21.5968 million yuan in taxes and late fees [17] - China Shenhua's subsidiary has successfully completed the trial operation of its power generation unit [19] - Yijing Optoelectronics has received a hearing notice regarding the inability to advance its photovoltaic project [20] Group 7 - Jiga Development has received debt waivers totaling 378 million yuan from its controlling shareholder and related parties [21] - ST Lutong plans to apply to the Shenzhen Stock Exchange to revoke other risk warnings after a shareholder repaid funds [22] - Xin'ao Co. is progressing with the privatization of Xin'ao Energy and has completed significant asset restructuring foreign exchange registration [23]

新京报贝壳财经讯12月28日，海南葫芦娃药业集团股份有限公司(下称"ST葫芦娃（605199）")发布公告 称，公司及公司董事长刘景萍于2025年12月26日分别收到中国证券监督管理委员会下发的《立案告知 书》。因公司及公司董事长刘景萍涉嫌信息披露违法违规，根据《中华人民共和国证券法》《中华人民 共和国行政处罚法》等法律法规，中国证监会决定对公司和刘景萍立案。目前，公司各项生产经营活动 正常有序开展，在立案调查期间，公司将积极配合中国证监会的相关调查工作，并严格按照有关法律法 规及监管要求履行信息披露义务。 ...