Linewell Software has been placed under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations. The company received a case filing notice from the CSRC on July 10. Linewell Software stated that all business operations are continuing as normal, and it will fully cooperate with the investigation while fulfilling its information disclosure obligations. In the first quarter of this year, the company reported revenue of 117 million yuan, a year-on-year decline of 31.49 percent, and a net loss attributable to the parent company of 49.816 million yuan, with the loss widening further compared to the same period last year. As of the close of trading on July 10, Linewell Software shares stood at 7.95 yuan each, up 2.98 percent, giving the company a total market value of 4.614 billion yuan.
Linewell Software Co LtdCSRC investigation for disclosure violations