Hangjin Technology: Under investigation by the CSRC for suspected violations of information disclosure laws and regulations

2026-04-06 21:56:09

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On the evening of April 3, Hangjin Technology (rights protection) (000818.SZ) announced that it has received a Filing Notice issued by the China Securities Regulatory Commission. Due to the company’s alleged violations and irregularities in information disclosure, the CSRC decided to file a case against the company in accordance with relevant laws and regulations.

Hangjin Technology stated that, at present, all of the company’s production and business operations are being carried out normally and in an orderly manner. During the period of the filing, the company will actively cooperate with the CSRC’s investigation and strictly fulfill its information disclosure obligations in accordance with regulatory requirements.

According to materials, Hangjin Technology Co., Ltd.’s predecessor was Jinxi Chemical General Factory. It is currently a high-tech listed company controlled by the State-owned Assets Supervision and Administration Commission of Wuhan, and it was listed on the main board of the Shenzhen Stock Exchange in 1997. In recent years, the company has shifted toward becoming a technology company, and its strategic framework covering multiple industries—“artificial intelligence, electronics, and chemical engineering”—has basically taken shape.

Previously, the company’s 2025 full-year performance forecast indicated that it expects to reduce losses in 2025, with net profit attributable to shareholders of the listed company of -180 million yuan to -100 million yuan. Net profit year over year is expected to increase by 81.62% to 89.79%.

Hangjin Technology said that, during the reporting period, the sales prices of the main products in the chemical sector declined due to the market environment, resulting in losses. In the integrated circuit sector, due to factors such as market changes and actual operating conditions, the company conducted thorough analysis, appraisal, and testing of inventories, goodwill, and so on. Based on the principle of prudence, it made an appropriate provision for asset impairment losses.

What is worth noting is that the company was previously issued a warning letter by the Liaoning Securities Regulatory Bureau in early 2025.

The Liaoning Securities Regulatory Bureau announced on January 3, 2025 that Hangjin Technology was ordered to make corrections after it led to information disclosure being not true and not accurate due to incorrect accounting for its computing power equipment and chip sales business. At the same time, the chairman Cai Weidong, the general manager Ding Guibao, and the financial director Mu Jihong were issued warning letters due to the above violations.

Upon investigation, Hangjin Technology’s internal control system was not implemented properly, and some subsidiaries had long lacked effective control. These actions violated the provisions of Article 3, Paragraph 1 of the Measures for the Administration of Information Disclosure by Listed Companies (CSRC Order No. 182) and Article 94, Paragraph 1 of the Corporate Governance Standards for Listed Companies (CSRC Announcement [2018] No. 29). Pursuant to Article 51, Paragraph 1 of the Information Disclosure Measures, Chairman Cai Weidong, General Manager Ding Guibao, and Financial Director Mu Jihong bear the primary responsibility for the above violations.

Pursuant to Article 52, Items (1) and (3) of the Information Disclosure Measures, the Liaoning Securities Regulatory Bureau decided to take administrative regulatory measures requiring corrections to the company, and to take administrative regulatory measures to issue warning letters to Cai Weidong, Ding Guibao, and Mu Jihong, and to record the matter in the integrity file for the securities and futures market. The regulatory authorities require the company and the relevant responsible persons to improve internal controls, conduct a comprehensive self-check of information disclosure work, promptly and comprehensively correct relevant misstatements, draw lessons fully, improve the quality of information disclosure, and prevent such incidents from happening again.

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