Wisesoft Co Ltd

The National Development and Reform Commission said at a press conference on September 22 that during the 15th Five-Year Plan period it will push the BeiDou industry to exceed 1 trillion yuan in scale within five years, achieving new breakthroughs in market-oriented, industrialized, and internationalized large-scale applications of BeiDou. On the same day, the annual development report released by the China Electricity Council showed that China's electrification rate has surpassed 29 percent, reaching about 29.5 percent in 2025, up 1.4 percentage points from the previous year, and will leap to first place among major global economies by 2030. Alibaba CEO Wu Yongming said at the Apsara Conference that current customer demand for AI is very strong, and the company will fully invest in AI infrastructure construction, with a goal of operating more than 20 gigawatts of global data center capacity under Alibaba Cloud by 2032. Meituan Vice President and head of its flash purchase business unit Xiao Kun said that over the next three years, Meituan Flash Purchase will invest 30 billion yuan in support resources for industry partners in infrastructure construction, product research and development, and merchandise marketing. At the company level, CICC's share swap merger received valid declarations of dissent for 7.3219 million shares, and its A shares resumed trading; Shanshan Corporation plans to invest 5.106 billion yuan to build an integrated base project with an annual output of 150,000 tons of lithium-ion battery anode materials; and Wisesoft was placed on file for investigation by the China Securities Regulatory Commission for suspected illegal information disclosure.

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 released its 2026 interim report, showing total operating revenue of 65.5312 million yuan, net profit attributable to the parent company of minus 29.5192 million yuan, and net cash inflow from operating activities of 24.9262 million yuan. The company's latest asset-liability ratio was 44.16 percent, up 0.82 percentage points from the previous quarter and up 22.74 percentage points from the same period last year. The latest gross margin was 13.87 percent, down 4.56 percentage points from the previous quarter. The latest return on equity was minus 3.53 percent, down 0.53 percentage points from the same period last year. Diluted earnings per share were minus 0.13 yuan, total asset turnover was 0.04 times, and inventory turnover was 0.28 times. The company had 22,800 shareholders, and the top ten shareholders held 65.3448 million shares, accounting for 28.96 percent of total share capital.

A total of 3.56 million yuan in the bank account of Wisesoft's controlled subsidiary Chengdu Zhisheng Guanghuan Technology was frozen and seized. The incident stems from a sales contract dispute between Zhisheng Guanghuan and Henan Wanjvda Technology Development, with a total contract value of 17.6 million yuan. Because Zhisheng Guanghuan's supplier Zhongke Kaijie Information System failed to deliver goods as agreed, Zhisheng Guanghuan could not deliver to Henan Wanjvda on time. Henan Wanjvda filed a lawsuit and applied for asset preservation. The Jinshui District People's Court of Zhengzhou ruled in the first instance to terminate the contract, requiring Zhisheng Guanghuan to return the advance payment of 5.28 million yuan plus interest and pay liquidated damages. The second-instance ruling upheld the original verdict. Wisesoft stated that the freezing and seizure will not have a material impact on the listed company's overall capital turnover or daily production and operations. As of March 31 this year, the company's net assets stood at 848 million yuan, with the seized funds accounting for only 0.42 percent. In terms of performance, Wisesoft has posted negative net profit attributable to the parent company for four consecutive years from 2022 to 2025, and its preliminary first-half 2026 forecast shows a net loss of 28 million to 32 million yuan, with no turnaround yet. In the secondary market, as of the close on August 4, Wisesoft rose 6.30 percent to 10.12 yuan per share, giving a total market value of about 2.283 billion yuan. The stock has fallen about 10 percent year to date.