Core Viewpoint - *ST Suwu has received an administrative penalty notice from the China Securities Regulatory Commission (CSRC), indicating that the company has inflated its operating income, operating costs, and profits from 2020 to 2023, which may lead to a forced delisting due to significant violations [2][10]. Summary by Sections Administrative Penalty Notice - On July 13, *ST Suwu announced it received an administrative penalty notice from the CSRC, which identified false records in its annual reports from 2020 to 2023 [2][10]. - The notice states that *ST Suwu's subsidiaries engaged in non-commercial trade activities with related companies, resulting in inflated financial figures [7]. Financial Impact - The inflated operating income for the years 2020 to 2023 was reported as follows: 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion, representing 26.46%, 26.39%, 21.26%, and 16.82% of the reported operating income for those years, respectively [9]. - The inflated operating costs for the same years were 4.81 billion, 4.48 billion, 4.11 billion, and 3.55 billion, accounting for 37.08%, 35.47%, 28.40%, and 20.95% of the reported operating costs [9]. - The inflated total profits were 14.58 million, 20.27 million, 19.92 million, and 21.22 million, which constituted 2.89%, 51.65%, 26.42%, and 29.81% of the reported total profits for those years [10]. Regulatory Actions - The CSRC plans to impose a fine of 10 million yuan on *ST Suwu and a total of 20.5 million yuan in fines on its executives [10]. - The company has issued its first risk warning announcement regarding the potential for forced delisting due to significant violations [11][12]. Future Implications - If *ST Suwu receives a formal administrative penalty decision indicating significant violations, it will apply for a trading suspension and disclose relevant information promptly [14]. - The Shanghai Stock Exchange will issue a notice regarding the potential termination of *ST Suwu's listing within five trading days of the suspension [14]. Recent Financial Performance - In 2024, *ST Suwu reported an operating income of 1.599 billion, a year-on-year decrease of 28.64%, with a net profit attributable to shareholders of 70.48 million, compared to a net loss of 71.95 million in 2023 [15].

Core Viewpoint - *ST Suwu has been identified for continuous financial fraud over four years, leading to potential mandatory delisting due to significant violations of regulations [1][3]. Summary by Sections Financial Misconduct - From 2020 to 2023, *ST Suwu reported false financial statements, inflating revenue by 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion respectively, which accounted for 26.46%, 26.39%, 21.26%, and 16.82% of the reported revenue for those years [2]. - The company also inflated total profits by 145.83 million, 202.71 million, 199.24 million, and 212.19 million, representing 2.89%, 51.65%, 26.42%, and 29.81% of the total profits for the respective years [2]. - Non-operational fund occupation by related parties was not disclosed, with balances of 127 million, 1.393 billion, 1.543 billion, and 1.693 billion, which constituted 6.88%, 74.20%, 84.60%, and 96.09% of the net assets [2]. Control and Reporting Issues - The actual controller of *ST Suwu was misreported in annual reports from 2018 to 2023, with the company incorrectly identifying Qian Qunying as the actual controller instead of Qian Qunshan [3]. Regulatory Actions and Consequences - Starting July 14, *ST Suwu's stock will be subject to delisting risk warnings due to the serious violations identified [3]. - During the delisting risk warning period, the company must disclose progress every five trading days and provide special risk warnings regarding the potential for mandatory delisting [4]. - The company has a history of warnings about delisting risks, with the China Securities Regulatory Commission (CSRC) issuing a notice of investigation in February 2023 [4]. Future Implications - The CSRC maintains a strict stance on delisting, indicating that even if a company is delisted, it remains accountable for any illegal activities [5]. - Investors may pursue civil compensation for false statements after the final administrative penalty decision is made [5]. - The Supreme People's Court and CSRC have issued guidelines to enhance investor protection and combat fraudulent activities in the capital market [5].

Core Viewpoint - *ST Suwu has been identified for continuous financial fraud over four years, leading to a significant violation that may result in mandatory delisting from the stock market [2][4]. Financial Misconduct - The company has been found to have inflated revenue and profit figures from 2020 to 2023, with inflated revenues of 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion respectively, representing 26.46%, 26.39%, 21.26%, and 16.82% of the reported revenues for those years [2][3]. - The inflated profit totals for the same period were 145.83 million, 202.71 million, 199.24 million, and 212.19 million, accounting for 2.89%, 51.65%, 26.42%, and 29.81% of the reported profits [2][3]. Non-Disclosure of Related Party Transactions - The company failed to disclose significant non-operating fund occupations by related parties, with balances of 127 million, 1.393 billion, 1.543 billion, and 1.693 billion from 2020 to 2023, which constituted 6.88%, 74.20%, 84.60%, and 96.09% of the net assets reported [3]. Regulatory Actions and Consequences - Following the identification of these violations, *ST Suwu is subject to a fine of 10 million and faces mandatory delisting as per the stock exchange regulations [2][4]. - The company must disclose updates on its situation every five trading days during the delisting risk warning period, and its stock will be suspended pending the final delisting decision [4]. Investor Protection and Legal Accountability - The China Securities Regulatory Commission (CSRC) emphasizes that companies facing delisting will still be held accountable for their illegal activities, ensuring that investors can pursue civil compensation for false statements [5][6]. - The CSRC's approach includes strict enforcement of repayment obligations for fund occupations and a commitment to investor protection through legal frameworks [6].

Core Viewpoint - *ST Suwu has been found guilty of serious financial fraud over multiple years, leading to potential delisting due to major violations of stock listing rules [1][3]. Group 1: Financial Misconduct - From 2020 to 2023, *ST Suwu inflated its operating income by approximately 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion respectively, accounting for 26.46%, 26.39%, 21.26%, and 16.82% of the reported operating income for those years [2]. - The company also inflated its total profit by 14.58 million, 20.27 million, 19.92 million, and 21.22 million, representing 2.89%, 51.65%, 26.42%, and 29.81% of the total profit for the respective years [2]. - Non-operational fund occupation by related parties was not disclosed in annual reports from 2020 to 2023, with balances of 127 million, 1.39 billion, 1.54 billion, and 1.69 billion at year-end, constituting 6.88%, 74.20%, 84.60%, and 96.09% of the net assets [2]. Group 2: Regulatory Actions - Starting July 14, *ST Suwu's stock will be subject to delisting risk warnings due to the serious violations identified [3]. - The company is required to disclose progress on related matters every five trading days during the delisting risk warning period and must provide special risk warnings regarding potential mandatory delisting [3]. - The company has issued over 20 risk warning announcements since being investigated, indicating the ongoing nature of the delisting risk [4]. Group 3: Investor Protection and Accountability - The regulatory authorities have adopted a "zero tolerance" approach towards financial fraud, emphasizing that companies facing delisting will still be held accountable for their fraudulent actions [5]. - Even after delisting, *ST Suwu will remain liable for civil compensation related to its fraudulent activities, ensuring that investors can seek redress for damages incurred [5]. - The Supreme People's Court and the China Securities Regulatory Commission have issued guidelines to strengthen legal protections for investors against fraudulent activities [6].

江苏吴中医药发展股份有限公司(以下简称"公司") 因涉嫌信息披露违 法违规，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。2025 年 7 月 13 日，公司收到中国证监会下发的《行政处罚事先 告知书》（处罚字〔2025〕58 号）。认定公司虚增营业收入、营业成本 和利润，2020 年至 2023 年年度报告存在虚假记载。 如根据正式的处罚决定书结论，公司触及重大违法强制退市情形，公司 股票将被终止上市。根据《上海证券交易所股票上市规则》第 9.5.7 条、 第 9.5.8 条，如公司后续收到行政处罚决定书，显示公司触及重大违法 类强制退市情形，公司将申请停牌，并及时披露有关内容。上海证券交 易所将在停牌之日起的 5 个交易日内，向公司发出拟终止股票上市的事 先告知书，后续将根据《上海证券交易所股票上市规则》的相关规定， 作出是否终止公司股票上市的决定。 公司将全力配合中国证监会的相关工作，并积极行使听证或进行陈述、 申辩等合法权利，维护公司和广大投资者权益，最终结果以中国证监会 出具的正式处罚决定为准。敬请广大投资者关注后续公告并注意投资风 险。 法》《中华人民共和国行政处罚法》等法律法规， ...

公司 2024 年度财务报告内部控制被年审机构出具无法表示意见；浙江复基 控股集团有限公司的其他关联方企业存在非经营性占用公司资金的情形。上述事 项触及《上海证券交易所股票上市规则》第 9.8.1 条第（一）（三）项的规定， 公司被叠加实施其他风险警示。具体内容详见公司于 2025 年 5 月 6 日披露的《关 于控股股东关联方资金占用暨叠加其他风险警示的公告》（公告编号：临 2025-034）。 证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-066 江苏吴中医药发展股份有限公司 关于叠加实施退市风险警示的公告 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 一、公司已被实施的退市风险警示和其他风险警示 江苏吴中医药发展股份有限公司（以下简称"公司"）因公司 2024 年度财 务报告被年审机构出具无法表示意见，触及《上海证券交易所股票上市规则》第 9.3.2 条第（三）项规定财务类退市的情形，公司股票已被上海证券交易所实施 退市风险警示。具体内容详见公司于 2025 年 4 月 30 日披露的《关于实施退市 ...

证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-064 江苏吴中医药发展股份有限公司关于收到 中国证券监督管理委员会《行政处罚事先告知书》的公告 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 江苏吴中医药发展股份有限公司（以下简称"公司"）于 2025 年 2 月 26 日收到中国证券监督管理委员会（以下简称"中国证监会"）《立案告知书》（证 监立案字 0392025006 号），因公司涉嫌信息披露违法违规，根据《中华人民共 和国证券法》《中华人民共和国行政处罚法》等法律法规，中国证监会决定对公 司立案。具体内容详见公司于 2025 年 2 月 27 日披露的《关于收到中国证券监督 管理委员会立案告知书暨风险提示公告》（公告编号：临 2025-007）。 2025 年 5 月 15 日，公司披露《关于公司董事长收到立案告知书的公告》（公 告编号：临 2025-038），公司董事长因涉嫌信息披露违法违规，中国证监会决 定对其立案。 2025 年 7 月 13 日，公司收到中国证监会下发的《行政处罚事先告知书》 ...

Core Viewpoint - *ST Suwu (600200) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to significant penalties and potential delisting of its shares [1] Summary by Relevant Sections - **Investigation Details** - The company received a notice of administrative penalty on July 13, 2025, indicating that its annual reports from 2020 to 2023 contained false records, including inflated revenue, costs, and profits [1] - **Potential Consequences** - If the formal penalty decision confirms the findings, the company may face mandatory delisting due to serious violations of laws [1] - **Company's Response** - The company has stated it will fully cooperate with the investigation and actively exercise its legal rights [1]

证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-063 江苏吴中医药发展股份有限公司 关于立案调查进展暨风险提示公告 截至本公告披露日，中国证监会的调查尚在进行中，公司尚未收到就上述立 案调查事项的结论性意见或决定。在立案调查期间，公司积极配合中国证监会的 相关调查工作。 若后续经中国证监会行政处罚认定的事实，触及《上海证券交易所股票上市 规则》规定的重大违法强制退市情形，公司股票将被实施重大违法强制退市。请 投资者理性投资，注意投资风险。 公司目前日常生产经营正常，市场环境或行业政策未发生其他重大变化。公 司郑重提醒广大投资者，公司指定信息披露媒体为《中国证券报》《上海证券报》 及上海证券交易所网站（www.sse.com.cn），公司所有信息均以上述指定媒体刊 登的正式公告为准,敬请广大投资者理性投资,注意投资风险。 特此公告。 江苏吴中医药发展股份有限公司 董事会 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 重要风险提示： 江苏吴中医药发展股份有限公司(以下简称"公司")目前存在多重退市 风险，敬请 ...

证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-062 江苏吴中医药发展股份有限公司 关于 2024 年年度股东大会决议的更正公告 6.03 议案名称：江苏吴中医药集团有限公司苏州制药厂，最高担保额 4,000 万元 更正后： 二、议案审议情况 (一)非累积投票议案 6.03 议案名称：江苏吴中医药销售有限公司，最高担保额 40,000 万元 除上述更正内容外，公司 2024 年年度股东大会决议公告中其他内容均未发 生变化。公司对上述更正给投资者带来的不便深表歉意，敬请广大投资者谅解。 今后公司将进一步强化信息披露审核工作，提高信息披露质量。 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 江苏吴中医药发展股份有限公司(以下简称"公司")于 2025 年 5 月 22 日披 露了《江苏吴中医药发展股份有限公司 2024 年年度股东大会决议公告》（公告 编号：2025-042）。经事后核查，发现议案名称有误，现就原公告的部分内容予 以更正，具体更正内容如下： 更正前： 二、议案审议情况 (一)非累积投票议案 特 ...