Core Viewpoint - *ST Guandao (839680) is facing significant financial and regulatory challenges, including a potential delisting due to violations of information disclosure regulations, leading to a suspension of trading starting September 15, 2025 [2][3]. Trading Information Summary - On September 12, 2025, *ST Guandao's stock closed at 10.15 yuan, down 8.89%, with a turnover rate of 18.72%, trading volume of 87,800 shares, and a total transaction value of 91.9954 million yuan [1]. - The net outflow of main funds on the same day was 14.0837 million yuan, accounting for 8.95% of the total transaction value; retail investors saw a net inflow of 687,500 yuan, representing 0.44% of the total transaction value [1][3]. Regulatory Announcements Summary - On September 12, 2025, *ST Guandao received an administrative penalty decision from the China Securities Regulatory Commission, confirming that the company had committed information disclosure violations, which could lead to mandatory delisting [2]. - The company will be suspended from trading starting September 15, 2025, and the Beijing Stock Exchange will issue a notice regarding the potential termination of its listing [2][3].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has intensified its crackdown on financial fraud among listed companies, imposing significant penalties on multiple firms for financial misconduct, including forced delisting for some [2][5]. Group 1: Penalties and Companies Involved - Multiple companies, including *ST Dongtong, Lieneng 5 (formerly Yili Clean Energy), *ST Guangdao, ST Tiansheng, *ST Xinchao, and *ST Lingda, have been penalized for financial fraud, with *ST Dongtong and Lieneng 5 facing fines exceeding 100 million yuan [2][3]. - *ST Dongtong was fined 229 million yuan for inflating revenue and profits over four consecutive years, with additional penalties for seven responsible individuals totaling 44 million yuan, and the actual controller facing a 10-year market ban [3][5]. - Lieneng 5, which was delisted in July 2023, was fined 210 million yuan for financial fraud and misleading disclosures over an eight-year period, with penalties imposed on 29 responsible personnel totaling approximately 165 million yuan [4][6]. Group 2: Regulatory Environment and Enforcement - The CSRC has adopted a "zero tolerance" approach towards financial fraud, enhancing the enforcement of penalties and ensuring that both companies and their key personnel are held accountable [5][6]. - Over 70 individuals, including executives and board members, have faced penalties in connection with the financial misconduct of their companies, with some receiving lifetime bans from the securities market [5][6]. - The regulatory framework now includes measures for criminal liability, indicating that administrative penalties are only one aspect of the accountability process for financial fraud [6]. Group 3: Implications for the Market - The trend of increasing penalties and the potential for criminal charges are expected to deter financial misconduct and promote better compliance among listed companies [6]. - The ongoing enforcement actions are likely to lead to the removal of "bad actors" from the market, thereby improving overall corporate governance and compliance standards within the industry [6].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has intensified its crackdown on financial fraud among listed companies, imposing significant penalties on multiple firms for financial misconduct, with some companies facing penalties exceeding 100 million yuan [1] Group 1: Regulatory Actions - On September 12, several companies including *ST Dongtong (300379.SZ), Lieneng 5 (formerly Yili Clean Energy), *ST Guangdao (839680.BJ), ST Tiansheng (002872.SZ), *ST Xinchao (600777.SH), and *ST Lingda (300125.SZ) disclosed administrative penalties from the CSRC [1] - Companies such as *ST Dongtong and Lieneng 5, along with their executives, were fined over 100 million yuan [1] Group 2: Industry Trends - The regulatory environment has shifted towards a "zero tolerance" approach regarding financial fraud, with enforcement actions becoming increasingly stringent [1] - This year, numerous companies have received penalties exceeding 100 million yuan due to significant financial fraud, with over ten companies facing forced delisting as a result of major violations [1] - Even companies that have already been delisted continue to face accountability for their financial misconduct [1]

证券代码：839680 证券简称：*ST 广道 公告编号：2025-085 深圳市广道数字技术股份有限公司 股票停牌公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、停牌情况概述 （一）停牌事项类别 □主动申请终止股票上市 □出现退市风险警示情形 □撤销退市风险警示情形 公司本次申请股票停牌的事项类别为： □重大事项 □向境内其他证券交易所申请股票转板 □未在规定期限内披露季度报告 □股票交易异常波动 √退市相关 □规定的其他停牌事项 退市相关的具体内容是： □出现《股票上市规则》规定的其他停牌情形 □公司股本总额或公众股东持股比例发生变化，导致连续 60 个交易日不再 具备上市条件 √出现强制终止上市情形 （二）停牌情况及规则依据 2025 年 9 月 12 日，公司收到中国证监会《行政处罚决定书》（〔2025〕9 号） （以下简称《决定书》）。根据《决定书》，公司存在信息披露违法行为。根据《决 定书》认定情况，公司已触及《北京证券交易所股票上市规则》第 10.5.1 条第 （七）项规定的重大 ...

证券代码：839680 证券简称：*ST 广道 公告编号：2025-086 深圳市广道数字技术股份有限公司 关于公司股票将被终止上市的风险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 重要风险提示： 一、公司股票可能被终止上市的原因 2025 年 9 月 12 日，公司收到中国证监会《行政处罚决定书》（〔2025〕9 号）（以下简称《决定书》）。根据《决定书》，公司存在信息披露违法行为。 根据《决定书》认定情况，公司已触及《北京证券交易所股票上市规则》第 10.5.1 条第（七）项规定的重大违法强制退市情形，将被实施重大违法强制退市。 二、可能被终止上市的时间、影响因素 根据《北京证券交易所股票上市规则》第 10.6.1 条、第 10.6.2 条和第 10.6.3 条规定，北交所在作出终止上市决定前，向公司发出拟终止其股票上市的事先告 知书。公司收到事先告知书后，可以根据相关规定提出听证、陈述和申辩。北交 所上市委员会在听证、陈述和申辩有关期限届满或者听证程序结束后 15 个交易 日内，就是 ...

证券代码：839680 证券简称：*ST 广道 公告编号：2025-084 深圳市广道数字技术股份有限公司 关于收到中国证券监督管理委员会《行政处罚决定书》的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 深圳市广道数字技术股份有限公司（以下简称"公司"）于 2024 年 12 月 4 日被中国证券监督管理委员会（以下简称"中国证监会"）立案调查。公司于 2025 年 9 月 12 日收到中国证监会《行政处罚决定书》（〔2025〕9 号）（以下简称 《决定书》），具体内容如下： 安秀梅，女，1962 年 11 月出生，广道数字时任独立董事、审计委员会主任 委员(召集人),住址：北京市海淀区。 WANG,YANG(王洋),男，1982 年 3 月出生，广道数字时任独立董事、审计委 员会委员，持外国人永久居留身份证。 杨彬，男，1983 年 3 月出生，广道数字时任董事、审计委员会委员，住址： 广东省深圳市福田区。 陈曦，男，1982 年 3 月出生，广道数字时任董事，住址：广东省深圳市罗湖 区。 周 ...

Core Viewpoint - *ST Guangdao (839680) experienced a significant decline of 14.54% today, with a turnover rate of 32.92% and a trading volume of 1.57 billion yuan, indicating high volatility and investor activity [2] Trading Activity Summary - The stock was listed on the North Exchange's daily trading information due to its turnover rate reaching 32.92%, with a net buying amount of 2.09 million yuan from brokerage seats [2] - The top five brokerage seats accounted for a total transaction volume of 25.58 million yuan, with a buying amount of 13.83 million yuan and a selling amount of 11.74 million yuan, resulting in a net buying of 2.09 million yuan [2] - The largest buying brokerage was Dongfang Caifu Securities Co., Ltd. Lhasa Tuanjie Road Second Securities Office, with a buying amount of 2.67 million yuan, while the largest selling brokerage was Dongfang Caifu Securities Co., Ltd. Lhasa Donghuan Road First Securities Office, with a selling amount of 2.54 million yuan [2] Historical Performance - Over the past six months, *ST Guangdao has appeared on the trading list 27 times, with an average price increase of 1.21% the day after being listed and an average decline of 2.06% in the following five days [2]

Core Points - *ST Guangdao's stock closed at 9.52 yuan, down 14.54%, with a total market value of 638 million yuan [1] - The company was listed on the Beijing Stock Exchange on November 15, 2021, with an initial offering price of 12.25 yuan per share, currently in a state of decline [1] - The lead underwriter for the listing was Wukuang Securities Co., Ltd. [1] Fundraising and Financials - In 2021, the company publicly issued up to 16,749,900 new shares to unspecified qualified investors, following approval from the China Securities Regulatory Commission [1] - The total number of shares issued was 14,565,200 shares initially, with an additional 2,184,700 shares issued through the exercise of the over-allotment option, raising a total of 205,186,275 yuan [2] - The net amount raised after deducting issuance costs was 186,454,506.15 yuan, which was verified by Zhongzheng Huacai Accounting Firm [2]

Group 1 - The stock *ST Guangdao (839680) increased by 4.50% with a turnover rate of 49.31% and a trading volume of 262 million yuan, showing a volatility of 29.94% [1] - The stock was listed on the trading board due to its turnover rate reaching 49.31%, with a net selling amount of 3.1088 million yuan from brokerage seats [2] - In the past six months, the stock has appeared on the trading board 26 times, with an average price increase of 1.84% the day after being listed and an average decline of 1.56% over the following five days [3] Group 2 - The top five brokerage seats accounted for a total transaction amount of 44.8799 million yuan, with a buying amount of 20.8856 million yuan and a selling amount of 23.9943 million yuan, resulting in a net selling of 3.1088 million yuan [2] - The largest buying brokerage was Dongfang Caifu Securities, with a buying amount of 3.9394 million yuan, while the largest selling brokerage was also Dongfang Caifu Securities, with a selling amount of 5.1678 million yuan [3]

Core Insights - On September 11, 2025, *ST Guangdao (839680) was featured on the trading leaderboard due to a significant turnover rate of 49.31%, with a trading volume of 23.12 million shares and a transaction value of 262 million yuan [1][2]. Trading Activity Summary - The top buying seat was from Dongfang Caifu Securities Co., Ltd., Lhasa East Ring Road First Securities Business Department, with a purchase amount of approximately 3.94 million yuan [2]. - The top selling seat was also from Dongfang Caifu Securities Co., Ltd., Lhasa Tuanjie Road First Securities Business Department, with a selling amount of approximately 5.17 million yuan [2]. - The overall trading activity indicated a high level of interest in *ST Guangdao, as evidenced by the substantial trading volume and turnover rate [1][2].