China's CSRC Investigates Sichuan Wisesoft for Disclosure Violations; Five Executives Warned
On September 22, 2026, the China Securities Regulatory Commission (CSRC) opened an investigation into Sichuan Wisesoft Co., Ltd. (stock code 002253) for suspected information disclosure violations. Concurrently, the Sichuan branch of the CSRC issued an administrative regulatory decision ordering corrective measures and warning letters to five executives, including chairman You Zhisheng, for multiple violations including failure to disclose related-party transactions, undisclosed performance commitments, and a 15 million yuan non-operational fund occupation by You Zhisheng. The company stated operations remain normal.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Common ground
- The CSRC acted swiftly and decisively once the violations were discovered, issuing corrective measures, warning letters, and opening a formal investigation on the same day.
- The chairman's 15 million yuan fund occupation disguised as prepayments was a clear breach of fiduciary duty and a governance failure.
- The 60-day rectification deadline is a meaningful step, but stronger personal liability for directors would improve deterrence.
- China's regulatory enforcement is stronger than many emerging markets, such as those in the Middle East, where similar cases often go unpunished.
Points of contention
- Neutral Agent argues the five-year detection gap shows a failure of prevention and internal controls, while Eastern and Regional Agents say fraud is inherently hidden and the swift response proves the system works.
- Eastern Agent claims the CSRC's response is 'surgical' and a sign of maturity, while Neutral Agent calls it reactive and says it doesn't undo the harm to investors.
- Regional Agent emphasizes regional context to argue the CSRC is effective compared to other emerging markets, while Neutral Agent says 'better than the worst' is a low bar.
Blind spots
- All agents overlook the lack of personal fines or bans for the chairman, which weakens deterrence for future misconduct.
- The debate focuses on detection and punishment but ignores how investors were harmed by false financial statements over five years.
- No one addresses whether the CSRC's surveillance systems could be improved to catch hidden transactions sooner, rather than relying on whistleblowers or incidents.
WorldAttention’s read
This case shows a mixed picture: the CSRC's enforcement when violations are found is strong and swift, especially compared to many emerging markets, but the five-year detection gap for a chairman borrowing 15 million yuan through disguised prepayments reveals real weaknesses in both internal controls and regulatory surveillance. Investors were harmed for years before anyone acted. The system is getting better at punishment but still needs work on prevention and personal accountability for executives. Both progress and flaws are real, and ignoring either side is just narrative manipulation.
Reporting timeline
China's Sichuan Zhisheng under CSRC investigation for suspected information disclosure violations
On September 22, Sichuan Zhisheng (002253), known as Chuan Da Zhi Sheng, announced it had received a notice of investigation from the China Securities Regulatory Commission (CSRC) for suspected information disclosure violations. The company stated it would cooperate fully and that its operations remain normal. Separately, the Sichuan branch of the CSRC issued an administrative regulatory decision against the company and several executives, citing five specific violations: failure to timely review and disclose related-party transactions; failure to disclose performance commitments of an investee; failure to disclose non-operational fund occupation; inadequate internal controls; and improper accounting treatment. The regulator ordered corrective measures and issued warning letters to the company's actual controller and chairman You Zhisheng, former general manager Yang Bo, current general manager and former CFO Liu Jianbo, former CFO Hu Qingxian, and board secretary Wu Junjie. The company focuses on software development, system integration, and information technology, applying graphics and AI technologies to 3D measurement, facial recognition, air traffic management, and flight simulation. As of September 22, its stock closed at 10.27 yuan per share, with a market capitalization of 2.317 billion yuan.
Read sourceChina's Wisesoft Under CSRC Investigation for Suspected Information Disclosure Violations
On September 22, Sichuan Wisesoft Technology Co., Ltd. (川大智胜) announced it had received a filing notice from the China Securities Regulatory Commission (CSRC), which has decided to open an investigation into the company for suspected violations of information disclosure regulations. The company stated it will cooperate fully with the investigation and that its current operations remain normal. On the same day, the Sichuan branch of the CSRC issued an administrative regulatory measure decision against Wisesoft and related individuals, citing five specific violations: failure to timely review and disclose related-party transactions; failure to disclose performance commitments of a subsidiary; failure to disclose non-operational fund occupation; inadequate internal control implementation; and improper accounting treatment. The regulator ordered Wisesoft to rectify these issues and issued warning letters to the company's actual controller and chairman You Zisheng, former general manager Yang Bo, current general manager and former CFO Liu Jianbo, former CFO Hu Qingxian, and board secretary Wu Junjie, with the actions recorded in the securities and futures market integrity file. Wisesoft focuses on software development, system integration, and informatization, applying graphics and AI technologies to 3D measurement, facial recognition, and air traffic management. As of September 22, its stock closed at 10.27 yuan per share, with a market capitalization of 2.317 billion yuan.
Read sourceChina's Wisesoft Under Investigation for Information Disclosure Violations, Five Executives Warned
Sichuan Wisesoft Co., Ltd. (Wisesoft, 002253) announced on September 22, 2026, that it received a 'Case Filing Notice' from the China Securities Regulatory Commission (CSRC) on the same day. The CSRC has initiated an investigation into the company for suspected violations of information disclosure regulations. Wisesoft stated it will cooperate fully with the investigation and that its operations remain normal. Concurrently, the Sichuan branch of the CSRC issued an administrative regulatory decision against the company and five individuals, including actual controller You Zhisheng, for multiple issues. These include failing to timely disclose related-party transactions with Chengdu Wanlian Sensor Network Technology Co., Ltd., failing to disclose performance commitments from an investment in Tianjin Huayi Lantian Technology Co., Ltd., and failing to disclose a non-operational fund occupation of 15 million yuan by You Zhisheng from July 2024 to April 2025. Other issues involved inadequate internal controls and improper accounting treatment. The Sichuan CSRC ordered Wisesoft to rectify the issues and issued warning letters to You Zhisheng, Yang Bo, Liu Jianbo, Hu Qingxian, and Wu Junjie, which will be recorded in the securities and futures market integrity archive. Wisesoft reported a net loss of 29.52 million yuan for the first half of 2026.
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China's Wisesoft under investigation by securities regulator for information disclosure violations
Sichuan Wisesoft Software Co., Ltd. (stock code 002253) announced on September 22 that it had received a 'Case Filing Notice' from the China Securities Regulatory Commission (CSRC) on the same day. The CSRC decided to open an investigation into the company for suspected violations of information disclosure laws. Separately, the Sichuan branch of the CSRC issued a corrective measure and warning letters to the company and several individuals, including actual controller and chairman You Zhisheng. The Sichuan regulator identified multiple issues: failure to timely review and disclose related-party transactions with Chengdu Wanlian Sensor Network Technology Co., Ltd. and 13 other related entities from 2020 to 2025; failure to disclose performance commitments of a subsidiary; You Zhisheng's non-operational fund occupation of 15 million yuan in company funds from July 2024 to April 2025 to repay related-party bank loans, which was not disclosed in the 2024 annual report; internal control deficiencies in contract approval, seal management, and accounts receivable; and inadequate impairment testing of fixed assets, inventory, and intangible assets from 2022 to 2024. The company stated it would cooperate with the investigation and that operations remain normal. The stock closed at 10.27 yuan on September 22, up 3.63%, with a market cap of 2.3 billion yuan.
Read sourceChina's low-altitude economy stock Sichuan Jiuzhou Electric faces probe for alleged information disclosure violations
On September 22, Sichuan Jiuzhou Electric Co., Ltd. (stock code 002253), a concept stock in China's low-altitude economy (index 886067), announced it had received an investigation notice and an administrative regulatory measure decision from regulators on the same day. The company's actual controller, You Zhisheng, borrowed 15 million yuan from the company between July 2024 and April 2025 under the guise of prepayments to repay bank loans of his related parties, constituting non-operational fund occupation. The company failed to disclose this in its 2024 annual report. Additionally, the company failed to timely deliberate and disclose related-party transactions, failed to disclose performance commitments of investee companies, had inadequate internal controls, and improper accounting treatment. The Sichuan Securities Regulatory Bureau ordered the company to take corrective measures and issued warning letters to five responsible individuals, including You Zhisheng. Separately, the China Securities Regulatory Commission has launched an investigation into the company for suspected information disclosure violations. The company stated it will cooperate with the investigation and that its operations are normal.
China's Wisesoft under CSRC investigation for suspected information disclosure violations
Sichuan Wisesoft Co., Ltd. (002253) announced on September 22 that it has been placed under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure regulations. Simultaneously, the company and several responsible individuals, including actual controller and chairman You Zhisheng, received administrative regulatory measures from the Sichuan Securities Regulatory Bureau. The investigation follows findings of multiple issues: failure to timely disclose related-party transactions with affiliate Chengdu Wanlian Sensor Network Technology Co., Ltd.; failure to disclose performance commitments of a subsidiary; non-operational fund occupation of 15 million yuan by Chairman You Zhisheng from July 2024 to April 2025; internal control deficiencies in contract approval and seal management; and inadequate impairment testing of fixed assets, inventory, and intangible assets. The Sichuan bureau ordered corrective measures and issued warning letters to five individuals, including You Zhisheng and Yang Bo. Wisesoft stated it will cooperate with the investigation and that operations remain normal.
Read sourceChina's CSRC Investigates Sichuan University Zhisheng Software for Disclosure Violations
Sichuan University Zhisheng Software Co., Ltd. (stock code 002253), known as Chuan Da Zhi Sheng, announced on September 22, 2026, that it received a 'Case Filing Notice' from the China Securities Regulatory Commission (CSRC). The CSRC decided to formally investigate the company for suspected violations of information disclosure laws and regulations under the Securities Law and Administrative Penalty Law. Separately, the Sichuan branch of the CSRC issued an 'Administrative Regulatory Measures Decision' ordering corrective actions and issuing warning letters to the company and several individuals, including actual controller You Zhisheng, Yang Bo, Liu Jianbo, Hu Qingxian, and Wu Junjie. The decision identified five specific issues: failure to timely review and disclose related-party transactions, failure to disclose performance commitments from a 2019 investment in Tianjin Hualan Yitian Technology, undisclosed non-operational fund occupation (You Zhisheng borrowed 15 million yuan in company funds via prepayments from July 2024 to April 2025 to repay a related party's bank loan), inadequate internal controls, and improper accounting treatment. The company stated it is cooperating with the investigation and will implement corrective measures within 60 days.
Read sourceChina's securities regulator investigates Sichuan University Zhisheng Software for suspected information disclosure violations
Sichuan University Zhisheng Software (stock code 002253) announced on September 22, 2026, that it received a case-opening notice from the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws. The company stated it will cooperate with the investigation and that its operations remain normal. Separately, the Sichuan branch of the CSRC issued a corrective order and warning letters to the company and several executives, including Chairman You Zhisheng, for multiple violations. These include: failure to timely disclose related-party transactions with Chengdu Wanlian Sensor Network Technology from 2020 to 2024; failure to disclose performance commitments for a subsidiary; Chairman You Zhisheng's unauthorized borrowing of 15 million yuan in company funds between July 2024 and April 2025 to repay a related party's bank loan, which was later repaid; internal control deficiencies in contract management and accounts receivable; and improper accounting treatment of fixed assets, inventory, and development costs. The company must submit a rectification report within 60 days.
Read sourceChina's Sichuan CSRC Fines Sichuan Air Traffic Control for Disclosure Violations
Sichuan Air Traffic Control Software Co., Ltd. (川大智胜) announced on September 22 that it received an investigation notice from the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws. Concurrently, the Sichuan branch of the CSRC issued an administrative supervision decision detailing multiple infractions. These include failing to timely disclose related-party transactions with associate company Chengdu Wanlian Sensor Network Technology Co., Ltd., failing to disclose performance commitment agreements from a 2019 investment in Tianjin Huayi Lantian Technology Co., Ltd., and failing to disclose a non-operational fund occupation of 15 million yuan by actual controller You Zhisheng between July 2024 and April 2025. The company also faced issues with internal control execution and accounting treatment. The Sichuan CSRC ordered corrective measures and issued warning letters to several executives, including You Zhisheng, Liu Jianbo, Yang Bo, Hu Qingxian, and Wu Junjie, with records entered into the securities futures market integrity archive. The company stated it will cooperate with the investigation and implement corrective actions, emphasizing that its operations remain normal. For the first half of 2026, the company reported revenue of 65.53 million yuan (up 20.21% year-on-year) and a net loss of 29.52 million yuan (narrowing 10.22%).
Read sourceSichuan Jiuzhou Electric receives corrective measures from Sichuan Securities Regulatory Bureau
Sichuan Jiuzhou Electric Co., Ltd. (002253.SZ) announced that on September 22, 2026, the company and its responsible persons received a decision letter from the Sichuan Office of the China Securities Regulatory Commission (CSRC). The letter states that the company failed to timely review and disclose related-party transactions, failed to disclose performance commitments of its investee companies, failed to disclose non-operational fund occupation, and had inadequate internal controls. As a result, the Sichuan CSRC office ordered the company to take corrective measures and issued warning letters to responsible persons You Zhisheng, Yang Bo, Liu Jianbo, Hu Qingxian, and Wu Junjie, which will be recorded in the securities and futures market integrity archive.
Read sourceChina's Sichuan Jiuzhou Electric Faces CSRC Probe Over Alleged Information Disclosure Violations
On September 22, Sichuan Jiuzhou Electric Co., Ltd. (stock code 002253), known as Chuan Da Zhi Sheng, announced it had received a 'Case Filing Notice' from the China Securities Regulatory Commission (CSRC) on the same day. The CSRC has decided to open an investigation into the company for suspected violations of information disclosure laws and regulations. The company stated it will actively cooperate with the investigation and fulfill its disclosure obligations. Separately, the Sichuan branch of the CSRC issued an 'Administrative Regulatory Measures Decision' against the company and several individuals. The regulator found multiple issues: failure to timely review and disclose related-party transactions, failure to disclose performance commitments of an investee company, failure to disclose non-operational fund occupation, inadequate internal control implementation, and improper accounting treatment. The Sichuan CSRC ordered the company to rectify and issued warning letters to five individuals, including You Zhisheng, Yang Bo, Liu Jianbo, Hu Qingxian, and Wu Junjie, which will be recorded in the securities and futures market integrity archive.
Read sourceChina's CSRC Investigates Sichuan University Zhisheng Software for Information Disclosure Violations
On September 22, Sichuan University Zhisheng Software Co., Ltd. (stock ticker: Chuan Da Zhi Sheng) announced that the China Securities Regulatory Commission (CSRC) has initiated an investigation into the company for suspected violations of information disclosure laws. The same day, the company received a warning letter from the Sichuan branch of the CSRC detailing multiple issues. These include failure to timely disclose related-party transactions with associate Chengdu Wanlian Sensor Network Technology Co., Ltd., failure to disclose performance commitments from a 2019 investment in Tianjin Huayi Lantian Technology Co., Ltd., and non-operational fund occupation where the company's actual controller, You Zhisheng, borrowed 15 million yuan in company funds from July 2024 to April 2025 to repay a related party's bank loan. Additionally, the company was cited for inadequate internal controls over contract approvals and seal management, and improper accounting treatment for asset impairment tests. The Sichuan regulator ordered corrective measures and issued warning letters to several executives, including You Zhisheng, former general manager Yang Bo, current general manager Liu Jianbo, former CFO Hu Qingxian, and board secretary Wu Junjie. The company reported a net loss of 29.52 million yuan for the first half of the year.
Read sourceChina regulator orders Sichuan University Zhisheng Software to rectify, issues warning letters to executives
The Sichuan Securities Regulatory Bureau has issued a decision ordering Sichuan University Zhisheng Software Co., Ltd. to take corrective measures and issued warning letters to several executives, including Chairman You Zhisheng, for multiple violations of information disclosure and internal control rules. The violations include failing to timely disclose related-party transactions with a subsidiary, failing to disclose performance commitments from an investment in Tianjin Huayi Lantian Technology Co., Ltd., failing to disclose a non-operational fund occupation of 15 million yuan by the actual controller, and inadequate internal controls and accounting treatments. The regulator found that Chairman You Zhisheng and current General Manager Liu Jianbo were responsible for all violations, while former General Manager Yang Bo, former CFO Hu Qingxian, and Board Secretary Wu Junjie were responsible for specific subsets. The company must submit a rectification plan within 60 days. The decision is dated September 17, 2026.
China's Wisesoft Under Investigation for Alleged Information Disclosure Violations
On the evening of September 22, Sichuan Wisesoft Co., Ltd. (stock code 002253) announced it had received a 'Notice of Case Filing' from the China Securities Regulatory Commission (CSRC) on the same day. The CSRC decided to open an investigation into the company for suspected violations of information disclosure laws and regulations. The company stated that its production, operations, and business operations are currently normal. On the same day, the company and related responsible individuals also received an 'Administrative Regulatory Measures Decision' from the Sichuan Securities Regulatory Bureau. The bureau found that the company had failed to timely review and disclose related-party transactions, failed to disclose performance commitments of invested companies, failed to disclose non-operational fund occupation, and had inadequate internal controls. Consequently, the Sichuan bureau ordered the company to rectify and issued warning letters to five responsible individuals, which will be recorded in the securities and futures market. As of the close on September 22, Wisesoft's stock price was 10.27 yuan per share, up 3.63%, with a total market capitalization of 2.3 billion yuan. The report originates from the Mass Securities Daily.
Read sourceSichuan University Zhisheng and Executives Receive Regulatory Sanctions for Violations
Sichuan University Zhisheng Software Co., Ltd. and several of its executives have been issued administrative regulatory measures by the Sichuan Securities Regulatory Bureau, according to a September 22 report by Southern Finance. The company was found to have failed to timely disclose related-party transactions, failed to disclose performance commitments of an invested company, failed to disclose non-operational fund occupation, had inadequate internal control implementation, and improper accounting treatment. Notably, actual controller You Zhisheng was involved in a non-operational fund occupation of 15 million yuan. The Sichuan Bureau ordered the company to take corrective measures and issued warning letters to You Zhisheng, Yang Bo, Liu Jianbo, Hu Qingxian, and Wu Junjie, with the sanctions recorded in the securities and futures market.
Read sourceChina's securities regulator investigates Sichuan University Wisdom Technology for disclosure violations
Sichuan University Wisdom Technology (stock code 002253) announced on September 22, 2026, that it had received a formal investigation notice from the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws. The CSRC initiated the probe under the Securities Law and Administrative Penalties Law. Concurrently, the Sichuan branch of the CSRC issued a corrective order and warning letters to five executives, including chairman You Zhisheng, citing multiple compliance failures. These include failure to disclose related-party transactions with Chengdu Wanlian Sensor Network Technology from 2020 to 2024, failure to disclose performance commitments from a subsidiary, and a 15 million yuan ($2.1 million) non-operational fund misappropriation by You Zhisheng between July 2024 and April 2025, which was repaid in April 2025. Additional issues involved inadequate internal controls over contract approval and seal management, insufficient impairment testing of fixed assets and inventory from 2022 to 2024, and improper accounting treatment of development costs. The company stated it would cooperate fully with the investigation and submit a rectification report within 60 days, while asserting that current operations remain normal.
Read sourceChina's Sichuan University Zhisheng Software Probed for Information Disclosure Violations
Sichuan University Zhisheng Software (stock code 002253), a low-altitude economy concept stock, disclosed on September 22 that it received an administrative regulatory measure decision from the Sichuan Securities Regulatory Bureau. The investigation found that from July 2024 to April 2025, the company's actual controller You Zhisheng borrowed 15 million yuan from the listed company under the pretext of prepayments to repay bank loans of his related parties, constituting non-operational fund occupation. The company failed to disclose this in its 2024 annual report. Additionally, the company failed to timely deliberate and disclose related-party transactions, failed to disclose performance commitments of its investee companies, had inadequate internal controls, and improper accounting treatment. The Sichuan Bureau ordered corrective measures and issued warning letters to You Zhisheng and four other responsible persons. Separately, the China Securities Regulatory Commission has opened an investigation into the company for suspected information disclosure violations. The company stated it will cooperate with the investigation and that its operations remain normal.
Read sourceChina's Wisesoft under CSRC investigation for information disclosure violations, five executives warned
On September 22, 2026, Sichuan Wisesoft Co., Ltd. (川大智胜) announced it had received a formal investigation notice from the China Securities Regulatory Commission (CSRC) for suspected information disclosure violations. Separately, the Sichuan branch of the CSRC issued an administrative regulatory decision identifying multiple violations between 2020 and 2025, including failure to timely disclose related-party transactions, failure to disclose performance commitments from a 2019 investment, undisclosed non-operational fund occupation of 15 million yuan by actual controller You Zhisheng, inadequate internal controls, and improper accounting treatment. Five responsible individuals, including chairman You Zhisheng, general manager Liu Jianbo, former general manager Yang Bo, former CFO Hu Qingxian, and board secretary Wu Junjie, received warning letters. The company stated the measures would not affect normal operations. The article also notes that while Wisesoft's 2026 first-half revenue grew 20.21% to 65.53 million yuan, net loss narrowed only slightly to 29.52 million yuan, with low-margin air traffic control business driving growth and R&D spending plunging 67.1%.
Read sourceChina's Sichuan University Zhisheng Software Probed by Securities Regulator for Violations
Sichuan University Zhisheng Software Co., Ltd. (stock code 002253) announced it has been placed under investigation by the China Securities Regulatory Commission (CSRC). The company stated its operations are running normally and it will cooperate with the investigation. Separately, the Sichuan branch of the CSRC issued an administrative regulatory decision against the company and several individuals, including actual controller You Zhisheng, for five violations: failure to timely deliberate and disclose related-party transactions, failure to disclose performance commitments of an investee company, failure to disclose non-operational fund occupation, inadequate internal controls, and improper accounting treatment. Specific issues included undisclosed related-party transactions with Chengdu Wanlian Sensor Network Technology Co., Ltd. from 2020 to 2024, undisclosed performance commitments from a 2019 investment in Tianjin Huayi Lantian Technology Co., Ltd., and a 15 million yuan fund occupation by You Zhisheng from July 2024 to April 2025 under the guise of prepayments. The regulator ordered corrective measures and issued warning letters to You Zhisheng, Yang Bo, Liu Jianbo, Hu Qingxian, and Wu Junjie. The company said it will rectify the issues and improve compliance.
Read sourceChina's Sichuan Jiuzhou Electric Faces Regulatory Actions Over Disclosure Failures and Fund Misuse
On September 22, Sichuan Jiuzhou Electric Co., Ltd. (川大智胜) announced it received an administrative regulatory measure decision from the Sichuan Securities Regulatory Bureau, which identified five categories of violations: failure to timely deliberate and disclose related-party transactions, failure to disclose performance commitments of an investee company, failure to disclose non-operational fund occupation, inadequate internal control implementation, and improper accounting treatment. Specifically, the company failed to disclose a related-party relationship and related transactions in 2021 and 2024, and did not deliberate or disclose annual related-party transaction limits with 13 related entities from 2022 to 2024. In April 2019, the company entered into a capital increase agreement with a Tianjin firm with performance commitments but only disclosed the capital increase, not the commitments or their fulfillment. The actual controller, You Zhisheng, borrowed 15 million yuan of company funds under the pretext of prepayments from July 2024 to April 2025 to repay his related party's bank loans. The bureau ordered corrective measures and issued warning letters to several executives. Separately, the company's 2025 annual report showed revenue surged 96.69% to 325 million yuan, crossing the 300 million yuan delisting threshold, with 76.61% of revenue in Q4. The Shenzhen Stock Exchange issued an inquiry letter questioning revenue recognition, customer concentration, receivables, prepayments, impairment, and investment income, to which the company responded that its accounting treatments were reasonable and compliant.
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