Jiayuan Technology has been placed under investigation by the China Securities Regulatory Commission for suspected illegal information disclosure. The company stated that the matter will not have a material impact on production and operations, which are currently proceeding normally, and it will actively cooperate with the investigation and fulfill its disclosure obligations going forward. The reason for the investigation was not disclosed in the announcement. Previously, Wang Jin, one of the company's actual controllers and its chairman, was placed under detention by a supervisory committee in April 2025, which was changed to a residential surveillance measure in July of the same year, and the measures were lifted in December. During its ongoing supervision on-site inspection, CITIC Securities focused on the chairman's detention and urged the company to standardize governance and strengthen compliance awareness. Jiayuan Technology's main businesses are network information security products, integrated information solutions, and artificial intelligence, with national defense and military industry as its largest business segment. In recent years, the company's profitability has been weak and performance volatile. Revenue from 2023 to 2025 was 227 million yuan, 337 million yuan, and 320 million yuan respectively, while net profit was negative 5.35 million yuan, 11.45 million yuan, and negative 42.95 million yuan. The 2025 performance decline was mainly due to a 44.74 percent year-on-year drop in military business revenue, with gross margin falling from 46.58 percent to 32.36 percent. Government and enterprise business grew rapidly, achieving revenue of 148 million yuan in 2025, up 992.20 percent year-on-year, with gross margin rising from 10.16 percent to 13.42 percent. The company plans to vigorously adjust its business structure and increase the revenue share of government and enterprise informatization and artificial intelligence products.
Jiayuan Science and Technology Co.Ltd.CSRC investigation for suspected information disclosure violations