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Huayu Software and Bright Laser Technologies Receive Regulatory Warning Letters on Same Day; Chairmen of Both Companies Held Primarily Responsible for Violations
Huayu Software and Bright Laser Technologies disclosed on the same day that they had received warning letters from their respective securities regulatory bureaus, with the chairmen of both companies found to bear primary responsibility for the violations. Huayu Software changed its revenue recognition method for new government-enterprise digital intelligence business in 2025 from the gross method to the net method, resulting in downward adjustments to its first-quarter, half-year, and third-quarter 2025 operating revenues by 28.86 million yuan, 60.58 million yuan, and 67.46 million yuan respectively. The related information disclosure was inaccurate. The Beijing Securities Regulatory Bureau issued a warning letter to the company, its chairman and general manager Guo Ying, and its chief financial officer Diao Yuekai, and recorded the matter in their integrity files. Bright Laser Technologies, on the other hand, used idle raised funds for cash management with a maximum balance exceeding the amount approved by the board of directors, exposing internal control deficiencies in raised fund management. The Shaanxi Securities Regulatory Bureau issued a warning letter to the company, its chairman and general manager Xue Lei, former deputy general manager Liang Kejing, chief financial officer Wang Min, and former board secretary Cui Jingshu, and required the submission of a rectification report within thirty days. Both companies stated that they attach great importance to the matter and will learn from the experience, and that the relevant measures will not affect their daily operations and management.