Core Viewpoint - The Jiangsu Securities Regulatory Bureau imposed a significant penalty on Yongtuo Accounting Firm for failing to perform due diligence in auditing the annual reports of Hongda Xingye, Hengjiu Technology, and Kelin Environmental Protection, resulting in a total fine of 57.17 million yuan and the confiscation of 8.11 million yuan in business income [1][31]. Group 1: Yongtuo Accounting Firm's Violations - Yongtuo Accounting Firm was found to have violated professional standards and ethical codes, losing independence and failing to take appropriate audit measures to address fraud risks, leading to substantial defects in substantive procedures [1][31]. - The firm issued audit reports containing false records for Hongda Xingye, Hengjiu Technology, and Kelin Environmental Protection, violating Article 163 of the Securities Law [1][31]. - Specific failures included not objectively assessing significant misstatement risks due to fraud and not maintaining professional skepticism regarding abnormal audit evidence related to revenue [1][31]. Group 2: Audit Process Deficiencies - Yongtuo failed to obtain reliable financial data from subsidiaries, relying instead on potentially manipulated data from the parent company [15][16]. - There were significant discrepancies in revenue figures across different audit documents, indicating a lack of professional skepticism and appropriate audit responses [17][18]. - The firm did not adequately address low response rates to accounts receivable confirmations, which were linked to fraudulent activities [22][23]. Group 3: Quality Control Issues - The project team did not follow internal review procedures, and the quality control reviewer failed to identify significant issues during the audit process [29][30]. - The project partner did not supervise or guide team members effectively, leading to a lack of adequate audit evidence to support the issued reports [29][30]. - The quality control reviewer did not address or follow up on critical issues raised during the review process, resulting in unaddressed audit deficiencies [29][30]. Group 4: Impact on Related Companies - Hongda Xingye was found to have engaged in fraudulent activities, including altering the use of raised funds and reporting false income and profit figures [10][11]. - Hengjiu Technology was implicated in inflating revenue and profits through unfulfilled contracts, which were not adequately scrutinized by Yongtuo [33][34]. - Kelin Environmental Protection's financial statements were also affected by Yongtuo's inadequate audit practices, leading to significant misstatements [1][31].

Core Viewpoint - Jiangsu Securities Regulatory Bureau has imposed significant penalties on Yongtuo Accounting Firm for multiple violations, including a total confiscation of approximately 8.11 million yuan in business income and a fine of about 57.17 million yuan, totaling around 65.28 million yuan, along with a ban on engaging in securities services [1][4]. Group 1: Violations and Penalties - Yongtuo Accounting Firm was found to have committed violations while auditing financial statements for Hongda Xingye Co., Ltd., Suzhou Hengjiu Optoelectronics Technology Co., Ltd., and Kelin Environmental Equipment Co., Ltd. from 2019 to 2022 [4][5]. - The firm failed to exercise due diligence, resulting in false records in the audit reports for Hongda Xingye from 2020 to 2022 and other related reports [4][5]. - The total penalties included the confiscation of approximately 8.11 million yuan in business income and fines totaling about 57.17 million yuan, leading to a total penalty of around 65.28 million yuan [6][7]. Group 2: Specific Cases - For Hongda Xingye, the firm was fined approximately 40.75 million yuan and had 5.09 million yuan in business income confiscated due to false records in the audit reports [6][7]. - In the case of Hengjiu Technology, Yongtuo was fined about 792.45 thousand yuan and had 1.32 million yuan in business income confiscated for similar violations [6][7]. - For Kelin Environmental, the firm faced a fine of approximately 849.06 thousand yuan and had 1.70 million yuan in business income confiscated due to false records in the audit report [6][7]. Group 3: Accountability of Individuals - The signing registered accountant Chen Xiaohong received a warning and a fine of 4 million yuan, while the chief partner Lü Jiang was warned and fined 2 million yuan [7]. - Seven other responsible individuals were fined between 200,000 yuan and 1.2 million yuan [7]. - Chen Xiaohong faces a lifetime ban from the securities market, while Lü Jiang is banned for 10 years due to the severity of their violations [7].

Core Viewpoint - Jiangsu Securities Regulatory Commission has imposed penalties on Yongtuo Accounting Firm for failing to perform due diligence, resulting in false records in annual audit reports and fundraising verification reports, leading to a total fine of 57.17 million yuan and the prohibition of securities service business [1][5][7]. Group 1: Violations and Penalties - Yongtuo Accounting Firm was found to have serious deficiencies in its auditing practices for Hongda Xingye, Hengjiu Technology, and Kelin Environmental Protection, leading to the issuance of false audit reports [1][5][6]. - The total penalties include the confiscation of business income amounting to 8.11 million yuan and fines totaling 57.17 million yuan, with specific penalties for each company: 5.09 million yuan confiscated and 40.75 million yuan fine for Hongda Xingye; 1.32 million yuan confiscated and 7.92 million yuan fine for Hengjiu Technology; 1.70 million yuan confiscated and 8.49 million yuan fine for Kelin Environmental Protection [3][7]. Group 2: Specific Findings - In the audit of Hongda Xingye, Yongtuo failed to exercise due diligence, knowingly issuing unqualified audit reports despite significant issues and deficiencies in audit independence [1][6]. - For Hengjiu Technology, the audit work from 2019 to 2021 was marked by major flaws, including a lack of professional skepticism and failure to assess financial fraud risks appropriately [2][6]. - During the audit of Kelin Environmental Protection, Yongtuo did not adequately understand internal controls related to revenue and failed to execute proper control tests, leading to significant deficiencies in substantive audit procedures [3][7].

Core Viewpoint - Yongtuo Accounting Firm (special general partnership) failed to exercise due diligence in its auditing practices, resulting in false records in annual audit reports and fundraising verification reports, leading to significant penalties and a ban on providing securities services [1][4]. Group 1: Yongtuo's Violations - Yongtuo was responsible for auditing the financial statements of Hongda Xingye from 2020 to 2022, Hengjiu Technology from 2019 to 2021, and Kelin Environmental Protection for the year 2021, and was found to have issued reports with false records [1]. - The firm knowingly cooperated with Hongda Xingye's fraudulent activities, issuing unqualified audit reports despite being aware of significant issues and deficiencies in the audit process [1][2]. - Yongtuo's audit procedures exhibited major defects, including a lack of professional skepticism and failure to assess fraud risks adequately [2][3]. Group 2: Specific Findings - In the audit of Hengjiu Technology's annual reports from 2019 to 2021, Yongtuo failed to maintain professional skepticism and did not appropriately evaluate or respond to financial fraud risks [2]. - The audit of Kelin Environmental Protection's 2021 financial statements revealed that Yongtuo did not adequately understand internal controls related to revenue and failed to execute proper control tests, leading to significant deficiencies in substantive audit procedures [3]. Group 3: Penalties Imposed - The total penalties imposed on Yongtuo included the confiscation of business income amounting to 811 million yuan and fines totaling 57.17 million yuan, along with a prohibition on engaging in securities services [4].

登录新浪财经APP 搜索【信披】查看更多考评等级 转自：证券日报网 本报记者 曹卫新 在为恒久科技2019年至2021年年度财务报表提供审计服务时，永拓所同样未履行审计监督核心职 责，相关审计工作存在重大缺陷。经监管核查，永拓所在审计过程中并未勤勉尽责，出具的恒久科技 2019年至2021年年度审计报告存在虚假记载。 此外，经监管核查，永拓所在审计科林环保2021年年度财务报表时，严重未勤勉尽责，未恰当了解 与收入相关的内部控制及业务流程、未执行控制测试，实质性审计程序中关于营业收入风险应对措施存 在重大缺陷，违反多项中国注册会计师审计准则，明知其出具的审计报告意见类型将影响科林环保的上 市地位，在监管部门和深交所多次提示风险的情况下，仍然出具存在虚假记载的审计报告。 "永拓所通过策划舞弊、篡改数据等行为深度参与上市公司造假，该案例极具代表性，暴露出中介 机构与上市公司之间'深度合作'甚至'共谋造假'的系统性风险，这不仅是一次个案处罚，更是资本市 场'看门人'制度重塑的导火索。"众和昆仑（北京）资产管理有限公司董事长柏文喜在接受《证券日 报》记者采访时表示。 监管部门全链条追责重塑行业生态 12月13日，中国 ...

Core Viewpoint - The Jiangsu Securities Regulatory Bureau has imposed penalties on Yongtuo Accounting Firm for failing to perform due diligence in their auditing processes, resulting in false records in annual audit reports and other certification reports [2][4]. Group 1: Penalties and Violations - Yongtuo Accounting Firm was ordered to rectify its practices, had its business income of 8.11 million yuan confiscated, and was fined 57.17 million yuan, with a prohibition on engaging in securities services [2][5]. - The firm was found to have serious deficiencies in its auditing processes for multiple clients, including Hongda Xingye, Hengjiu Technology, and Kelin Environmental Protection, leading to the issuance of unqualified audit reports despite known issues [2][3][4]. Group 2: Specific Cases of Misconduct - In the case of Hongda Xingye, Yongtuo's audit reports for 2020 to 2022 contained false records, and the firm failed to maintain independence and objectivity in its auditing practices [2][3]. - For Hengjiu Technology, significant deficiencies were noted in the 2019 to 2021 audit reports, including a lack of professional skepticism and inadequate assessment of fraud risks [3][4]. - During the audit of Kelin Environmental Protection's 2021 financial statements, Yongtuo did not properly understand internal controls related to revenue and failed to execute appropriate control tests, leading to serious violations of auditing standards [4][5].

Group 1 - The core issue revolves around the severe penalties imposed on the brokerage firm responsible for the oversight of Hongda Xingye's convertible bond project, which has been under scrutiny for nearly two years since its delisting [1][2] - The Jiangsu Securities Regulatory Bureau discovered that Hongda Xingye inflated its total profits by 4.078 billion yuan through various fraudulent accounting practices, including altering original financial records and instructing auditors to fabricate audit adjustments [2][4] - The penalties highlight the stringent regulatory environment in the securities market, indicating that past violations will still be pursued even after a company has been delisted [2][4] Group 2 - Hongda Xingye's fraudulent activities spanned several years and involved significant amounts, with inflated profits accounting for 94.11%, 94.42%, and 618.70% of the reported profits from 2020 to 2022 [4][8] - The company misappropriated 1.691 billion yuan from the funds raised in 2019, primarily for use by its controlling shareholders and related parties, without proper disclosure in relevant reports [4][8] - Additionally, Hongda Xingye created a false impression of repaying 848 million yuan of raised funds, which were actually not returned [4][8] Group 3 - The ongoing legal proceedings serve as a warning to the capital market, emphasizing that companies cannot escape accountability for illegal activities through delisting [5][9] - Investors who purchased shares between April 28, 2020, and September 24, 2023, and sold or still hold them after September 25, 2023, may be eligible for compensation, with the statute of limitations for claims expiring in September 2026 [5][9]

Core Points - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative penalty against First Capital Securities for failing to fulfill its supervisory duties during the 2019 convertible bond project of Hongda Xingye [1][5] - Hongda Xingye has previously been penalized for violations related to the misuse of raised funds and false disclosures in its financial reports [2][5] - Investors who purchased Hongda Xingye's stock or convertible bonds between January 6, 2020, and September 22, 2023, may be eligible for compensation if they suffered losses [3][6] Summary of Relevant Sections Administrative Penalty - First Capital Securities is accused of not adequately verifying the use and repayment of raised funds, failing to issue proper supervisory opinions, and not fulfilling reporting obligations, which led to false records in supervisory documents [1][5] - The proposed penalties include a warning, confiscation of underwriting income amounting to approximately 4.25 million yuan, and a fine of about 12.74 million yuan [5] Violations by Hongda Xingye - Hongda Xingye has been found to have changed the intended use of funds raised in 2019 without authorization [2][5] - The company’s annual reports from 2019 to 2022 and the semi-annual report for 2023 contained false records regarding the use of raised funds [2][5] - The company failed to timely disclose significant litigation, arbitration, and guarantee matters [2][5] Investor Compensation - Investors who bought shares or bonds during the specified period and continued to hold or sold at a loss after September 23, 2023, have the right to claim compensation [3][6] - Required documentation for claims includes trading statements and identification copies [7] - Legal representation for claims is typically on a contingency basis, meaning no upfront fees are required, and fees are only paid upon winning the case [7]

Group 1 - The case of First Capital Securities Co., Ltd. (referred to as "First Capital") highlights the increasing trend of penalties imposed on underwriting investment banks for the violations of listed companies they sponsor [2] - First Capital's wholly-owned subsidiary, First Capital Securities Underwriting and Sponsorship Co., Ltd. (referred to as "First Capital Investment Bank"), was fined nearly 17 million yuan by the Jiangsu Securities Regulatory Bureau due to its joint liability for the sponsored company [2] - The penalties included fines of 1.5 million yuan for two responsible individuals, totaling nearly 20 million yuan [2] Group 2 - Hongda Xingye Co., Ltd. (referred to as "Hongda Xingye") has faced multiple negative reports in the capital market, including an investigation by the China Securities Regulatory Commission for information disclosure violations [3] - Hongda Xingye's stock price fell below 1 yuan per share for twenty consecutive trading days, triggering mandatory delisting regulations, and the company was officially delisted on March 18, 2024 [3][4] - The Jiangsu Securities Regulatory Bureau announced that Hongda Xingye had committed three major violations, including unauthorized changes to the use of raised funds and false records in financial reports [4] Group 3 - As the sponsor for Hongda Xingye's 2019 convertible bond project, First Capital Investment Bank was also penalized for failing to perform due diligence during the continuous supervision period [5] - The penalties for First Capital Investment Bank included a fine of 12.73 million yuan and the confiscation of sponsorship income amounting to 4.2453 million yuan [5] - First Capital has stated that it will take this case as a lesson to improve its operational quality and compliance in the future [5]

Core Viewpoint - The regulatory environment has tightened, leading to significant penalties for both companies and their intermediary institutions, as evidenced by the recent administrative penalties imposed on Yichuang Investment Bank for its role in the Hongda Xingye convertible bond project [2][5]. Group 1: Regulatory Actions and Penalties - Yichuang Investment Bank's subsidiary, Yichuang Securities, was fined a total of 16.98 million yuan due to negligence in the continuous supervision of the Hongda Xingye convertible bond project [2][6]. - The penalties were a result of three main issues: insufficient verification of the use of raised funds, false records in supervisory documents, and failure to fulfill reporting obligations [5][6]. - Hongda Xingye has been delisted for over a year, with its stock and convertible bonds being suspended due to financial fraud that inflated profits by over 4 billion yuan [2][6]. Group 2: Company Performance and Project Status - Yichuang Investment Bank has only sponsored three projects on the Beijing Stock Exchange this year, with one project having its application withdrawn [2][8]. - The company's IPO withdrawal rate exceeded 50% last year, while this year it has improved to 18.18% [8]. - In contrast, the bank's bond underwriting performance has been strong, completing 70 bond financing projects with a total underwriting amount of 25.27 billion yuan, marking a year-on-year increase of 296.64% [9].