Low-altitude economy concept stock Wisesoft announced on the evening of September 22 that the company received a case filing notice from the China Securities Regulatory Commission that day and has been placed under investigation for suspected illegal information disclosure. On the same day, the company and relevant responsible persons received an administrative regulatory measures decision from the Sichuan branch of the CSRC. The investigation found that the company's actual controller You Zhisheng borrowed 15 million yuan of listed company funds under the name of prepayments from July 2024 to April 2025 to repay bank loans of his related parties, and the funds were returned by April 2025. The borrowing period constituted non-operating capital occupation, but the company did not disclose this in its 2024 annual report. The Sichuan branch of the CSRC also pointed out that the company failed to review and disclose related party transactions in a timely manner, failed to disclose performance commitments of an investee company, had inadequate internal control implementation, and used non-standard accounting treatment. It decided to order the company to take corrective measures, and issued warning letters to You Zhisheng, Yang Bo, Liu Jianbo, Hu Qingxian, and Wu Junjie, with the matter recorded in the securities and futures market integrity archives. Wisesoft said it will cooperate with the investigation and strengthen information disclosure management, and that the company's production, operations, and business operations are currently normal.
Wisesoft Co LtdCSRC placed Wisesoft under investigation for suspected illegal information disclosure and ordered corrective measures over undisclosed related-party fund occupation.
