Crystal Growth & Energy Equipment Co. Ltd. A

Jingsheng Shares disclosed on the evening of September 24 that the company, its chairman and general manager Li Hui, and former chief financial officer Wu Chunsheng received an administrative regulatory decision from the Jiangsu Securities Regulatory Bureau. Due to inaccurate information disclosure caused by corrections of prior accounting errors, the company was given a warning letter as an administrative regulatory measure and the matter was recorded in the securities and futures market integrity archive. The Jiangsu Securities Regulatory Bureau determined that the company's information disclosure in the first quarter, half-year, and third quarter reports of 2025 was inaccurate, violating the provisions of Article 3, Paragraph 1 of the Measures for the Administration of Information Disclosure by Listed Companies. Li Hui and Wu Chunsheng failed to perform their duties diligently and bear primary responsibility for the above violations. The decision requires the company to strengthen internal controls and improve financial accounting standards, and all directors and senior management should enhance their study of securities laws and regulations, and submit a written report to the Jiangsu Securities Regulatory Bureau within 10 working days from the date of receiving the decision. Jingsheng Shares is a supplier of semiconductor specialized equipment. In the first half of 2026, it achieved operating revenue of 40.6483 million yuan, a year-on-year decrease of 41.72 percent, and a net loss attributable to shareholders of the listed company of 11.7651 million yuan, with the loss expanding by 100.04 percent year-on-year. The company stated that this administrative regulatory measure will not affect its normal business management activities, and reminded investors to pay attention to investment risks.

Jingsheng Shares announced on August 30 that it has decided to terminate the issuance of shares and payment of cash to purchase assets, the related fundraising, and the connected transaction, and to withdraw the application documents. The restructuring was initiated in August 2025 and was called off after about a year. The company had originally planned to acquire 100 percent of Beijing Weizhun Intelligent Technology Co., Ltd., but due to changes in the overall market environment compared with the early stage of the transaction planning, and after prudent consideration and friendly consultation with the transaction parties, it decided to terminate the deal. The company pledged not to plan any major asset restructuring for at least one month from the date of the termination announcement, and plans to hold an investor briefing on September 1. The 2026 semi-annual report disclosed on the same day shows that the company achieved operating revenue of 40.6483 million yuan in the first half of the year, down 41.72 percent year on year. Net profit attributable to shareholders of the listed company was negative 11.7651 million yuan, down 100.04 percent year on year. Despite the earnings pressure, the company maintained high research and development investment, with first-half R&D expenses of 21.0355 million yuan, accounting for 51.75 percent of operating revenue.

Jingsheng Shares released its 2026 interim report, with total operating revenue of 40.6483 million yuan, down 41.72% year-on-year, and net profit attributable to the parent company of negative 11.7651 million yuan, a wider loss than the same period last year. Net cash flow from operating activities was negative 17.5957 million yuan, the asset-liability ratio rose to 16.56%, gross margin was 24.56%, return on equity was negative 0.78%, and diluted earnings per share was negative 0.09 yuan. The company had 14,400 shareholders, and the top ten shareholders held 52.88% of total share capital.