Core Viewpoint - The company, Jing Shan Light Machine, has received an administrative penalty notice from the Hubei Securities Regulatory Bureau regarding false disclosures in its 2018 annual report, leading to a risk warning designation for its stock, which will be changed to "ST Jing Ji" starting January 20 [1][6]. Group 1: Company Response and Impact - The company has expressed sincere apologies to investors and partners for the historical issues and stated that the penalty does not significantly impact its current operations or financial status [2]. - The involved subsidiary, Shenzhen Huida Cheng Intelligent Technology Co., Ltd., has been shut down, and the company has taken legal action against the original shareholders for financial fraud, which has been resolved through the judicial process [3][4]. - Financial adjustments have been completed, and the company has corrected past accounting errors related to the subsidiary, ensuring that historical financial data accurately reflects the situation [3]. Group 2: Current Operations and Future Plans - The company reports that all business operations, including its main sectors of photovoltaic equipment, lithium battery equipment, and packaging equipment, are running smoothly and as planned [5]. - The penalty is considered a procedural matter related to past events, and the company has initiated a comprehensive internal control upgrade plan to prevent similar issues in the future [5][6]. - The company aims to enhance governance and compliance training for its management and key personnel to improve operational standards and information disclosure quality [5].

京山轻机是一家全球化的高端智能装备制造集团，公司长期深耕智能制造，业务遍布全球。当前，京山轻机主营业务—— 光伏、包装及锂电池装备三大板块运行稳健。 本报讯 （记者李万晨曦）1月17日，湖北京山轻工机械股份有限公司（以下简称"京山轻机"）公告称，2026年1月16日，公 司及相关责任人收到中国证券监督管理委员会湖北监管局（以下简称"湖北证监局"）出具的《行政处罚事先告知书》。公司股 票将自2026年1月19日（星期一）开市起停牌1天，自2026年1月20日（星期二）开市起复牌，同时，公司股票将自1月20日（星 期二）开市起被实施其他风险警示，股票简称由"京山轻机"变更为"ST京机"；股票代码仍为"000821"；股票交易日涨跌幅限制 为5%。 京山轻机相关负责人在接受《证券日报》记者采访时表示，本次行政处罚，源于京山轻机已关停的原控股子公司——深圳 市慧大成智能科技有限公司。该子公司在2016年至2018年独立运营期间，存在由原股东策划的财务造假行为，从而导致京山轻 机信息披露违规，并于2024年11月1日收到中国证监会下发的《立案告知书》。 该负责人表示，公司及董事会完全尊重并接受中国证监会的监管决定。就此 ...

湖北京山轻工机械股份有限公司 J.S. Corrugating Machinery Co., Ltd. Stock Code : 000821 证券代码：000821 证券简称：京山轻机 公告编号：2026-04 为回应市场关切，维护投资者知情权，公司现就本次处罚事项的整改情况、 影响及后续安排说明如下： 一、本次处罚事项所涉历史背景及公司已完成的整改情况 本次《告知书》所涉事项，源于公司已关停的原控股子公司深圳市慧大成智 能科技有限公司（以下简称"慧大成"）。 助力中国智造 成就世界品牌 1. 事件背景：慧大成系公司于 2018 年通过投资并购取得控股权的子公司，本 次事件系原股东为完成业绩承诺，在慧大成独立运营期间实施的财务欺诈行 为，其性质具有隐瞒与欺骗性。在经营管理过程中，公司主动发现慧大成的 财务异常，并于 2021 年果断向公安机关报案，坚决运用法律手段维护上市 公司及全体股东权益。 2. 司法程序已终结：经公安机关侦查、检察机关公诉及法院审理，湖北省荆门 市中级人民法院已于 2024 年 5 月作出终审判决，认定慧大成原股东犯合同 诈骗罪，相关刑事责任已追究完毕。 湖北京山轻工机械股份有限公司 ...

Investment Rating - The report indicates a positive outlook for the power equipment industry, particularly in the renewable energy sector, with significant investments and technological advancements expected to drive growth [1][2][4]. Core Insights - The report highlights that the State Grid's investment during the "14th Five-Year Plan" period is projected to reach 4 trillion yuan, marking a 40% increase compared to the previous plan [2]. - The report emphasizes the stability in polysilicon prices and the continuous rise in battery component prices, with N-type battery prices increasing to 0.40 yuan per watt [15][16]. - The report identifies three key areas of focus: supply-side reform leading to price increases in the industry chain, long-term growth opportunities from new technologies, and industrialization opportunities from perovskite GW-level layouts [16]. Summary by Sections 1. New Energy Generation 1.1 Photovoltaics - Polysilicon prices remain stable, while battery component prices are on the rise, with N-type battery prices reaching an average of 0.40 yuan per watt [15]. - The report notes that leading component companies are responding to industry self-discipline by raising component prices, with distributed sales prices reaching 0.72 yuan per watt [15][16]. - Key companies to watch include Tongwei Co., GCL-Poly, LONGi Green Energy, JA Solar, and Trina Solar [16]. 1.2 Wind Power & Grid - The UK AR7 offshore wind auction results exceeded expectations, with a total scale of approximately 8.4GW, validating the upward trend in European offshore wind [17]. - The State Grid's investment is expected to enhance transmission capacity significantly, addressing bottlenecks in renewable energy delivery [18]. - Companies to focus on include Goldwind, Yunda Wind Power, Mingyang Smart Energy, and Sany Heavy Energy [18]. 1.3 Hydrogen & Energy Storage - By 2025, the production and sales of fuel cell vehicles in China are projected to reach 7,797 units, reflecting a 44% year-on-year increase [20]. - The report anticipates that new energy storage installations will reach 58.6GW/175.3GWh by 2025, with significant growth expected in the energy storage sector [21]. - Key players in the hydrogen sector include Shuangliang Energy, Huadian Heavy Industries, and Shenghui Technology [20]. 2. New Energy Vehicles - Solid-state batteries are gaining traction, with several automakers making progress towards mass production by 2026 [29]. - Companies such as BYD, Changan Automobile, and Chery are expected to achieve significant milestones in solid-state battery technology [29]. - The report suggests monitoring companies like Xiamen Tungsten, Hailiang Co., and Nanjing Advanced Lithium Battery [29]. 3. Industry Trends - The report notes a 0.4% increase in the new energy equipment sector from January 12 to January 16, 2026, with a cumulative increase of 5.3% since the beginning of the year [12]. - The photovoltaic equipment sector saw a 3.52% increase, while the wind power equipment sector experienced a decline of 1.28% during the same period [13].

Core Viewpoint - The regulatory penalties imposed on Hubei Jing Shan Light Industry Machinery Co., Ltd. for financial disclosure violations highlight the serious consequences of financial misconduct in the capital market [3][4][7] Group 1: Regulatory Actions - The company received an administrative penalty notice from the Hubei Securities Regulatory Bureau due to false records in its 2018 annual report, leading to a warning from the Shenzhen Stock Exchange [3][4] - The company's stock will be suspended for one day on January 19 and will resume trading on January 20 under the new name "ST Jingji," with a reduced daily price fluctuation limit from 10% to 5% [3][4] - The company faces a fine of 5 million yuan, while the former chairman and other executives are fined between 250,000 and 30,000 yuan [4] Group 2: Financial Misconduct Details - From 2015 to 2018, the company invested in Shenzhen Huida Cheng Intelligent Technology Co., Ltd., which inflated revenue by 58.19 million yuan and profits by 46.70 million yuan in the 2018 annual report [3][4] - The company only corrected the financial data in January 2022 after discovering financial irregularities, which did not prevent regulatory penalties [4][6] Group 3: Impact on Company Operations - The stock's risk warning and name change will significantly affect market liquidity, investor sentiment, and stock price volatility, creating uncertainty around the company's share repurchase plan [5] - The company has initiated a share repurchase plan with a budget of 68.5 million to 137 million yuan, but the implementation may be affected by the new restrictions [5] Group 4: Future Compliance and Governance - The company plans to apply for the removal of the risk warning after meeting specific conditions, including the completion of financial restatements [6] - The board has apologized to investors and committed to improving internal governance and information disclosure quality [6][7] - The case underscores the regulatory body's zero-tolerance stance on financial fraud and emphasizes the importance of accurate financial reporting for sustainable development in the capital market [6][7]

Core Viewpoint - The regulatory penalties for financial fraud at Jing Shan Light Industry Machinery Co., Ltd. have been finalized, marking a significant consequence for the company due to false reporting in its 2018 annual report [1][2][3]. Group 1: Regulatory Actions - The company received an administrative penalty notice from the Hubei Securities Regulatory Bureau due to false records in its 2018 annual report, leading to a risk warning from the Shenzhen Stock Exchange [1][2]. - The company’s stock will be suspended for one day starting January 19 and will resume trading on January 20 under the new name "ST Jingji," with a trading limit of 5% [1][3]. - The company faces a fine of 5 million yuan, while key executives will also be penalized, including fines of 2.5 million yuan for the chairman and other executives [3]. Group 2: Financial Misconduct Details - From 2015 to 2018, the company invested in Shenzhen Huida Cheng Intelligent Technology Co., Ltd., which inflated revenue by 58.19 million yuan and costs by 9.61 million yuan through false contracts [2]. - The inflated profits amounted to 46.70 million yuan, representing 25.49% of the total profit disclosed for that period [2]. Group 3: Company Response and Future Outlook - The company has initiated a share buyback plan, intending to use between 68.5 million and 137 million yuan for this purpose, with partial completion reported by the end of 2025 [3][4]. - The company has committed to improving internal governance and enhancing the quality of information disclosure following the penalties [4][6]. - The implementation of the ST label indicates a one-year observation period to assess the effectiveness of the company's internal control reforms [6]. Group 4: Industry Implications - The case reflects a "zero tolerance" approach from regulators towards financial fraud, emphasizing the importance of truthful financial reporting in the capital market [5][6]. - The incident serves as a reminder of the long-term consequences of financial misconduct and the necessity for companies to adhere to strict governance and disclosure standards [5][6].

公告显示，1月16日，公司及相关责任人收到湖北证监局出具的《行政处罚事先告知书》。根据《行政 处罚事先告知书》认定的情况，公司披露的《2018年年度报告》存在虚假记载。根据《股票上市规则》 第9.8.1条规定："上市公司出现以下情形之一的，本所对其股票实施其他风险警示：（八）根据中国证 监会行政处罚事先告知书载明的事实，公司披露的年度报告财务指标存在虚假记载，但未触及本规则第 9.5.2条第一款规定情形，前述财务指标包括营业收入、利润总额、净利润、资产负债表中的资产或者负 债科目。"因此，公司股票将被实施其他风险警示，但不触及《股票上市规则》第九章第五节规定的重 大违法强制退市的情形。 （文章来源：北京商报） 北京商报讯1月17日，京山轻机（000821）披露公告称，公司股票将自1月19日起停牌1天，自1月20日起 复牌。公司股票将自1月20日起被实施其他风险警示，股票简称由"京山轻机"变更为"ST京机"；股票代 码不变，仍为"000821"；股票交易日涨跌幅限制为5%。 ...

公告显示，1月16日，公司及相关责任人收到湖北证监局出具的《行政处罚事先告知书》。根据《行政 处罚事先告知书》认定的情况，公司披露的《2018年年度报告》存在虚假记载。根据《股票上市规则》 第9.8.1条规定："上市公司出现以下情形之一的，本所对其股票实施其他风险警示：（八）根据中国证 监会行政处罚事先告知书载明的事实，公司披露的年度报告财务指标存在虚假记载，但未触及本规则第 9.5.2条第一款规定情形，前述财务指标包括营业收入、利润总额、净利润、资产负债表中的资产或者负 债科目。"因此，公司股票将被实施其他风险警示，但不触及《股票上市规则》第九章第五节规定的重 大违法强制退市的情形。 北京商报讯（记者 王蔓蕾）1月17日，京山轻机（000821）披露公告称，公司股票将自1月19日起停牌1 天，自1月20日起复牌。公司股票将自1月20日起被实施其他风险警示，股票简称由"京山轻机"变更 为"ST京机"；股票代码不变，仍为"000821"；股票交易日涨跌幅限制为5%。 ...

经过1年多的立案调查后，京山轻机（000821）涉嫌信息披露违法违规一案靴子落地，公司将被实施ST 风险警示。 1月16日晚间，京山轻机发布公告称，收到湖北证监局出具的《行政处罚事先告知书》。因公司披露的 《2018年年度报告》存在虚假记载，公司股票将被实施其他风险警示。公司股票将自1月19日开市起停 牌1天，自1月20日开市起复牌，并被实施其他风险警示，股票简称由"京山轻机"变更为"ST京机"，股票 交易日涨跌幅限制为5%。 2021年6月，京山轻机披露《京山轻机非公开发行股票发行情况报告书暨上市公告书》，引用了2018年 年度报告中存在虚假的财务数据。2022年1月，京山轻机发布《关于前期会计差错更正及追溯调整的公 告》，对2018年年度报告相关财务数据进行了追溯调整。 湖北证监局认定，京山轻机及相关当事人的行为涉嫌违反了证券法相关规定。拟决定对公司给予警告并 处以500万元的罚款，对相关负责人分别给予警告并处以总计780万元的罚款。 "就此次历史问题给所有投资者、合作伙伴及公众带来的困扰，公司管理层表示最诚恳的歉意。"京山轻 机有关负责人对上证报记者表示，上述处罚为追溯性程序完结，不涉及当前主营业务，对 ...

Core Viewpoint - JingShan Light Machine (000821) is facing a risk warning (ST) due to violations in information disclosure related to its 2018 annual report, following a year-long investigation by the Hubei Securities Regulatory Bureau [1][4]. Summary by Sections Company Announcement - On January 16, JingShan Light Machine announced it received an administrative penalty notice from the Hubei Securities Regulatory Bureau, leading to a risk warning for its stock [1][4]. - The stock will be suspended for one day starting January 19 and will resume trading on January 20 under the new name "ST JingJi," with a daily trading limit of 5% [1][4]. Background of Violations - The penalties stem from financial disclosure violations by its former subsidiary, HuiDaCheng, between 2016 and 2018 [5]. - HuiDaCheng and its wholly-owned subsidiary, JingShan JingHui Intelligent Technology Co., Ltd., inflated revenue by CNY 58.19 million and costs by CNY 9.60 million through false contracts, resulting in an inflated profit of CNY 46.70 million, which accounted for 25.49% of the total profit disclosed by JingShan Light Machine in 2018 [2][5]. Regulatory Findings - The Hubei Securities Regulatory Bureau determined that JingShan Light Machine and related parties violated securities laws, proposing a warning and a fine of CNY 5 million for the company and a total of CNY 7.8 million in fines for responsible individuals [2][6]. Company Response - The management expressed sincere apologies for the historical issues and stated that the penalties do not impact the current main business operations or financial status [3][6]. - The company has initiated a comprehensive internal control upgrade plan to prevent similar risks in the future, focusing on enhancing management and compliance culture [3][6]. - JingShan Light Machine's main business segments, including photovoltaic, packaging, and lithium battery intelligent equipment, are operating steadily, with a commitment to technological innovation and market expansion [3][6].