ST Cui Hua announced on the evening of February 9, 2026, that it had received a formal investigation notice from the China Securities Regulatory Commission (CSRC). According to the filing, Shenyang Cui Hua Gold & Jewelry Co., Ltd. was recently served with the "Case Initiation Notice" (Case No. 0022026001) by the CSRC. The commission has decided to launch an investigation into the company due to suspected violations of information disclosure regulations, based on the Securities Law of the People's Republic of China and the Administrative Penalty Law of the People's Republic of China, among other legal statutes.
ST Cui Hua is currently experiencing significant liquidity challenges. Previously, on February 6, 2026, the company issued an announcement regarding the freezing of its primary bank accounts, the imposition of other risk warnings on its stock trading, and a trading halt. The company stated that, as of February 6, 2026, 45 bank accounts belonging to the company and its subsidiaries had been frozen due to contract disputes and overdue loan payments. These include 4 basic deposit accounts and 41 general deposit accounts. Due to financial strain and liquidity shortages, the company and its subsidiaries have defaulted on multiple loans from financial institutions. As of February 6, 2026, the total overdue principal from the company and certain subsidiaries amounted to 254 million yuan. Several financial institutions have initiated litigation or arbitration, leading to the freezing of the primary bank accounts by the People's Court, which significantly impacts the company's operations.
Regarding financial performance, on January 31, 2026, Cui Hua Jewelry released its annual performance forecast for 2025. The company anticipates its full-year net profit attributable to shareholders to be between 21 million yuan and 31 million yuan, representing a projected decrease of 85.69% to 90.31% compared to the previous year. However, the net profit attributable to shareholders after deducting non-recurring gains and losses is forecasted to be between 162 million yuan and 242 million yuan, indicating a projected increase of 154.81% to 280.64% year-on-year.
Legal experts suggest that investors who suffered losses may be eligible to seek compensation following the CSRC's investigation into ST Cui Hua. Preliminary conditions indicate that investors who purchased ST Cui Hua shares before February 9, 2026, and sold or held them after February 10, 2026, incurring losses, may qualify for a claim.