Soyea Technology Co Ltd

ST Shuyuan announced that, due to false records in its financial reports from 2020 to 2022, the company and six individuals are proposed to be fined a total of 16.9 million yuan by the Zhejiang Securities Regulatory Bureau. The company itself faces a fine of 8 million yuan, while former chairman Zhang Guojing faces a fine of 4 million yuan and an 8-year ban from the securities market. Investigations found that the company inflated or deflated operating revenue, operating costs, and total profits across various periods through fake audio-video business and fake trade business. In its 2022 interim report, inflated operating revenue accounted for 40.12 percent of the amount disclosed for that period. The company has made retrospective adjustments for some matters and has prudently judged that it has not triggered mandatory delisting for major violations, with the final outcome subject to the formal penalty decision.

ST Shuyuan released its 2026 interim report, with a net loss attributable to the parent company of 14.72 million yuan, a reduction of 33.33 million yuan compared to the same period last year. Total operating revenue was 120 million yuan, and net cash inflow from operating activities was 17.89 million yuan. The asset-liability ratio was 64.82 percent, down 0.12 percentage points from the previous quarter. Gross margin was 43.18 percent, up 3.66 percentage points year-on-year. Diluted earnings per share were negative 0.03 yuan, an increase of 0.08 yuan from the same period last year.