ST Yedao under CSRC investigation for suspected information disclosure violations
On September 21, ST Yedao (600238) announced it received a notice from the China Securities Regulatory Commission (CSRC) initiating an investigation into suspected violations of information disclosure regulations. The company has faced multiple regulatory actions in 2025, including a warning letter from the Hainan Regulatory Bureau for improper revenue recognition and undisclosed related-party transactions, and a Shanghai Stock Exchange supervisory letter questioning its 2025 performance forecast and delisting risks. ST Yedao reported a net loss of 28.88 million yuan in 2025 and continued losses in the first half of 2026.
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ST Yedao Under Investigation by China Securities Regulatory Commission for Information Disclosure Violations
On September 21, ST Yedao (600238) announced it received a notice from the China Securities Regulatory Commission (CSRC) initiating an investigation into suspected violations of information disclosure regulations. The company has faced multiple regulatory actions this year. On April 30, the Hainan Regulatory Bureau issued a warning letter for two violations: first, between 2020 and 2021, the company recognized revenue on transactions where goods were not actually shipped, leading to inaccurate financial reporting; second, between 2024 and 2025, the company failed to disclose related-party transactions with Hainan Yedao Yufan Food Co., Ltd. On March 18, the Shanghai Stock Exchange issued a supervisory letter regarding the company's 2025 performance forecast, questioning revenue recognition and potential delisting risks. Financially, ST Yedao reported a net loss of 28.88 million yuan on revenue of 371 million yuan in 2025. In the first half of 2026, revenue grew 94% year-on-year to 173 million yuan, but the company remained unprofitable with a net loss of 7.54 million yuan.
Read sourceST Yedao (600238) Under CSRC Investigation for Suspected Information Disclosure Violations
On the evening of September 21, ST Yedao (stock code 600238) announced it had received a 'Case Filing Notice' from the China Securities Regulatory Commission (CSRC), which decided to open an investigation into the company for suspected violations of information disclosure regulations. The company has faced multiple regulatory actions this year. On April 30, it received a warning letter from the Hainan Securities Regulatory Bureau for two violations: first, between 2020 and 2021, it recognized sales revenue on transactions that were not actually shipped, causing inaccurate financial reporting; second, between 2024 and 2025, it conducted related-party transactions with Hainan Yedao Yufan Food Co., Ltd. without proper disclosure. On March 18, the Shanghai Stock Exchange issued a supervisory letter questioning the company's 2025 performance forecast, particularly regarding revenue recognition and delisting risks. Financially, ST Yedao reported a net loss of 28.88 million yuan in 2025 on revenue of 371 million yuan, and continued to lose 7.54 million yuan in the first half of 2026 despite a 94% revenue increase. The auditor issued a qualified opinion with an emphasis of matter paragraph.
Read sourceST Yedao Investigated by China Securities Regulatory Commission for Information Disclosure Violations
On September 21, ST Yedao (stock code 600238) announced it received a 'Notice of Case Filing' from the China Securities Regulatory Commission (CSRC) for suspected illegal information disclosure. The company's stock closed at 4.68 yuan per share, with a market capitalization of 2.098 billion yuan and 31,260 shareholders as of June 30. The specific reasons for the investigation remain unknown, but the company recently appointed Dai Meiou as its new board secretary on September 2, ending a three-month vacancy after Wang Zhiming resigned on June 1. ST Yedao remains under other risk warnings due to non-standard audit opinions on its 2024 and 2025 internal controls. The company reported a net loss of 34.18 million yuan in 2025, with negative retained earnings of 612 million yuan and a debt-to-asset ratio of 88.60%. Additionally, accounting errors involving revenue recognition of 30.5 million yuan from 2020-2021 sales required retrospective adjustments to financial statements from 2020 to 2024. ST Yedao focuses on health liquor, baijiu, and plant-based beverages, and has posted consecutive net losses from 2023 to the first half of 2026.
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ST Yedao Investigated by China Securities Regulatory Commission for Alleged Information Disclosure Violations
On September 21, ST Yedao (stock code 600238) announced it received a 'Notice of Case Filing' from the China Securities Regulatory Commission (CSRC) for suspected illegal information disclosure. The specific reasons for the investigation remain unknown. The company recently appointed Dai Meiou as board secretary, ending a three-month vacancy after Wang Zhiming resigned in June 2025 after just over a year in the role. ST Yedao remains under other risk warnings due to non-standard audit opinions on its 2024 and 2025 internal controls. The company reported a net loss of 34.18 million yuan in 2025, with negative retained earnings of 612 million yuan and a debt ratio of 88.60%. It also disclosed accounting errors involving 30.5 million yuan in revenue from 2020-2021 sales that required retrospective adjustments. ST Yedao, listed on the Shanghai Stock Exchange since 2000, focuses on health liquor, baijiu, and plant beverages, and has posted consecutive losses from 2023 to the first half of 2026.
Read sourceST Yedao Investigated by China Securities Regulatory Commission for Alleged Information Disclosure Violations
On September 21, ST Yedao (stock code 600238) announced it received a 'Notice of Case Filing' from the China Securities Regulatory Commission (CSRC) for suspected illegal information disclosure. The company, trading at 4.68 yuan per share with a market cap of 2.098 billion yuan and 31,260 shareholders as of June 30, recently appointed Dai Meiou as board secretary, ending a three-month vacancy. The previous secretary, Wang Zhiming, resigned on June 1 after just over a year in the role. ST Yedao remains under other risk warnings due to non-standard audit opinions on its 2024 and 2025 internal controls. In 2025, the company reported a net loss of 34.18 million yuan, negative retained earnings of 612 million yuan, and an 88.6% debt ratio. Accounting errors involving 30.5 million yuan in revenue from 2020-2021 sales to two companies required retrospective adjustments to financial statements from 2020-2024. The company plans to focus on its core health liquor, baijiu, and plant beverage businesses to improve profitability.
Read sourceChina's ST Yedao Investigated by Securities Regulator for Suspected Information Disclosure Violations
On September 21, ST Yedao (stock code 600238) announced it received a 'Notice of Case Filing' from the China Securities Regulatory Commission (CSRC) for suspected illegal information disclosure. The company, which trades on the Shanghai Stock Exchange, saw its stock close at 4.68 yuan per share with a market capitalization of 2.098 billion yuan. As of June 30, the company had 31,260 shareholders. The specific reasons for the investigation remain unknown, but the company recently appointed Dai Meiou as its new board secretary, ending a three-month vacancy. ST Yedao remains under other risk warnings due to non-standard audit opinions on its 2024 and 2025 internal controls. The company reported a net loss of 34.18 million yuan in 2025, with negative retained earnings of 612 million yuan and a debt-to-asset ratio of 88.60%. Additionally, accounting errors involving revenue recognition of 30.5 million yuan from 2020-2021 sales have led to retrospective adjustments to financial statements from 2020 through 2024.
Read sourceST Yedao Investigated by China Securities Regulatory Commission for Suspected Information Disclosure Violations
On September 21, ST Yedao (stock code 600238) announced it received a 'Notice of Case Filing' from the China Securities Regulatory Commission (CSRC) for suspected illegal information disclosure. The company, which trades on the Shanghai Stock Exchange, saw its stock close at 4.68 yuan per share with a market capitalization of 2.098 billion yuan. The specific reasons for the investigation remain unknown, but the company recently appointed Dai Meiou as its new board secretary, ending a three-month vacancy. ST Yedao remains under other risk warnings due to non-standard audit opinions on its 2024 and 2025 internal controls. The company reported a net loss of 34.18 million yuan in 2025, with negative retained earnings of 612 million yuan and a debt-to-asset ratio of 88.60%. Additionally, accounting errors involving revenue recognition of 30.5 million yuan from 2020-2021 sales required retrospective adjustments to financial statements from 2020 to 2024. The company focuses on health liquor, baijiu, and plant-based beverages, and has reported consecutive net losses from 2023 through the first half of 2026.
Read sourceST Yedao Investigated by China Securities Regulatory Commission for Suspected Information Disclosure Violations
On September 21, ST Yedao (stock code 600238) announced it received a 'Case Filing Notice' from the China Securities Regulatory Commission (CSRC) for suspected illegal information disclosure. The company's stock closed at 4.68 yuan per share, with a market capitalization of 2.098 billion yuan and 31,260 shareholders as of June 30. The specific reasons for the investigation remain unknown, but the company recently appointed Dai Meiou as board secretary, ending a three-month vacancy. ST Yedao remains under other risk warnings due to non-standard audit opinions on its 2024 and 2025 internal controls. The company reported a net loss of 34.18 million yuan in 2025, with negative retained earnings of 612 million yuan and a debt ratio of 88.60%. Additionally, accounting errors involving 30.5 million yuan in revenue from 2020-2021 sales required retrospective adjustments to financial statements from 2020 to 2024. The company plans to focus on its core business and cost reduction to address challenges.
Read sourceST Yedao Investigated by China Securities Regulatory Commission for Information Disclosure Violations
On September 21, ST Yedao (stock code 600238) announced it received a 'Notice of Case Filing' from the China Securities Regulatory Commission (CSRC) for suspected illegal information disclosure. The company's stock closed at 4.68 yuan per share, with a market capitalization of 2.098 billion yuan and 31,260 shareholders as of June 30. The specific reasons for the investigation remain unknown, but the company recently appointed Dai Meiou as board secretary on September 2, ending a three-month vacancy after Wang Zhiming resigned on June 1. ST Yedao remains under other risk warnings due to non-standard audit opinions on its 2024 and 2025 internal controls. In 2025, the company reported a net loss of 34.18 million yuan, negative retained earnings of 612 million yuan, and a debt-to-asset ratio of 88.60%. The company also disclosed accounting errors involving 30.5 million yuan in revenue from 2020-2021 sales that require retrospective adjustments. ST Yedao plans to focus on its core health liquor, baijiu, and plant beverage businesses to improve profitability.
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