Flinger's main net outflow is 5.7894 million yuan, and it may also face shareholder compensation due to disclosure violations.

What internal control deficiencies are exposed behind AI Philingel’s financial violations?

Radar Finance Lezhu Ba Production | Text by Zhou Hui | Deep Sea

According to East Money Choice data, on April 7, Philingel’s transaction amount was 207.08 million yuan, and net outflow from the main funds was 57.89 million yuan.

Of note, on April 3, Philingel issued an announcement titled “Regarding the Announcement on the Receipt of the Administrative Regulatory Measures Decision Letter from the Shanghai Regulatory Bureau of the China Securities Regulatory Commission.”

Upon investigation, Philingel was found to have the following violations: First, false confirmation of revenue from engineering projects, which led to false records in the 2024 annual report. Second, inaccurate classification of some financial assets, which led to false records in the 2021-2024 annual reports. Third, non-compliance with the review procedures for directors’ and senior management’s compensation.

The above conduct of the company violates the provisions of Article 3, Paragraph 1 of the “Administrative Measures for Information Disclosure of Listed Companies” (CSRC Order No. 182). To prevent risks in the securities market and maintain market order, the Shanghai Regulatory Bureau has decided to take administrative regulatory measures requiring Philingel to make corrections.

In this regard, Song Lianmin, the head of Jiangsu Shengheng Law Firm, which has handled many stock compensation claims and has won compensations, told Radar Finance that if a listed company’s information disclosure is not timely or not accurate and causes losses to investors, the affected investors may claim compensation in accordance with law. Investors who bought and held Philingel shares between April 26, 2022, and April 3, 2026, may apply to participate in the claim. To apply, please follow the official public account “Lezhu Ba” (Lezhu code: 99) to participate; there is no fee before compensation is awarded.

Radar Finance noted that on April 6, Philingel issued the “Announcement of Resolutions of the 23rd Meeting of the Sixth Board of Directors.”

On April 1, 2026, Philingel sent, by email and other means, a notice to all company directors regarding convening the 23rd meeting of the Sixth Board of Directors (hereinafter referred to as “the Meeting”), as well as the relevant meeting materials and so on.

The Meeting was held on April 6, 2026, in a combination of on-site presence and communication-based voting. A total of 7 directors were expected to attend, and all 7 attended. The Meeting was chaired by Chairman Jin Yawei, and senior management personnel of the company attended the Meeting.

The convening of this Meeting complies with the provisions of laws, administrative regulations, departmental rules, normative documents, and the “Company Articles of Association.”

The Meeting approved the “Proposal on Correcting Prior Accounting Errors,” with the voting results: 7 votes in favor, 0 against, and 0 abstentions.

According to Tianyancha information, Philingel has 577 risk alerts.