福建紫天传媒科技股份有限公司 关于公司股票可能被终止上市暨停牌进展的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 证券代码：300280 证券简称：*ST紫天 公告编号：2025-034 二、停牌进展及后续影响 重要提示： 1、福建紫天传媒科技股份有限公司(以下简称"公司")于2025年2月14日收到 中国证券监督管理委员会福建监管局（以下简称"福建证监局"）出具的《关于对 福建紫天传媒科技股份有限公司采取责令改正措施的决定》（〔2025〕7号，以下 简称"决定书"）。因公司财务会计报告存在虚假记载，福建证监局责令公司自收 到决定书之日起30日内对相关年度报告进行更正并经会计师事务所全面审计。截至 目前，公司尚未聘请具备证券、期货相关业务资格的会计师事务所，也未向福建证 监局提交整改报告。根据《深圳证券交易所创业板股票上市规则》第10.4.1条（第 三项）的相关规定，2025年5月20日起，公司股票被实施退市风险警示。再根据《深 圳证券交易所创业板股票上市规则》第10.4.18条（第三项）的相关规定，若公司 股票交易被实施退市风险警示之日起的两个月内仍 ...

Core Viewpoint - *ST Zitian has been heavily penalized by the regulatory authority for serious financial fraud, including fabricating revenue and obstructing regulatory enforcement, leading to significant legal and financial consequences for the company and its management [1][19]. Financial Fraud Details - The financial fraud involved methods such as fictitious business operations and the use of gross revenue recognition instead of net revenue, which significantly inflated reported income [2][8]. - In 2022, *ST Zitian inflated its revenue by 778 million yuan, accounting for 44.59% of its reported income, through fictitious SMS services and improper revenue recognition in advertising [9][10]. - The company continued fraudulent practices into 2023, inflating its revenue by 207 million yuan in the first half of the year and 1.72 billion yuan in the annual report, with the latter accounting for 78.63% of reported income [10][11]. Regulatory Actions and Consequences - The company faced multiple penalties, with 12 current and former executives fined approximately 40 million yuan, and two key individuals banned from the market for life [1][14]. - *ST Zitian is at risk of three types of delisting due to its financial misconduct, including "normative delisting" for failing to rectify significant accounting errors and "major illegal delisting" for two consecutive years of false reporting [15][17]. Investor Impact and Legal Actions - Investors have begun filing civil compensation lawsuits against *ST Zitian, reflecting a growing trend of legal action against companies involved in financial fraud [4][21]. - Regulatory bodies are enhancing protections for investors affected by fraudulent activities, including mechanisms for advance compensation and commitments from responsible parties to ensure timely restitution [22].

Core Viewpoint - The article discusses the severe regulatory violations and penalties faced by Zhitian Technology (ST Zhitian), highlighting significant financial misconduct, obstruction of regulatory enforcement, and the potential for delisting from the stock market due to multiple infractions [1][12][19]. Group 1: Violations and Misconduct - Financial fraud involved inflating revenue by nearly 2.5 billion yuan, accounting for 63.53% of total revenue over two years, with specific methods including fictitious business operations and improper revenue recognition [2][12]. - The company obstructed regulatory enforcement by hiding financial documents and having executives go missing during investigations [3][13]. - The auditing firm, Beijing Yatai, withdrew its audit documents and faced penalties, indicating collusion in the misconduct [4][19]. Group 2: Legal and Regulatory Actions - The company received multiple fines totaling nearly 40 million yuan for various violations, including 8.5 million yuan for financial fraud and 3.5 million yuan for failing to disclose the annual report [8][10]. - Twelve executives were penalized, with significant fines imposed on key individuals, and four core executives received ten-year market bans [9][10]. - Criminal proceedings were initiated against the company for hiding accounting documents, with potential additional charges for failing to disclose important information [5][10]. Group 3: Delisting Risks - Zhitian Technology triggered three delisting mechanisms, making it a rare case in the A-share market, including failure to complete mandated rectifications and significant revenue inflation [12][19]. - The company faces a high probability of delisting due to non-compliance with regulatory requirements and ongoing investigations [12][19]. Group 4: Implications for the Industry - The case signifies a shift towards stricter regulatory enforcement in the capital market, emphasizing a "zero tolerance" approach to financial misconduct [16][19]. - The introduction of rigid delisting rules and a multi-faceted accountability system aims to enhance market integrity and deter future violations [17][18][19]. - The incident serves as a landmark case for reinforcing post-event regulatory oversight under the new registration system, indicating a significant transformation in the capital market landscape [19].

Core Viewpoint - *ST Zitian has received administrative penalty notices from the Securities Regulatory Commission, confirming serious violations including financial fraud and obstruction of regulatory enforcement, leading to significant penalties and potential delisting risks [2][10][12]. Financial Fraud Details - The financial fraud primarily occurred between 2022 and 2023, with *ST Zitian using methods such as fictitious SMS services and improper revenue recognition to inflate income and profits [6][9]. - In 2022, the company inflated its revenue by 778 million yuan, accounting for 44.59% of its reported income, through fictitious SMS services and improper accounting methods [8][9]. - In 2023, the company continued its fraudulent practices, inflating revenue by 207 million yuan in the first half and 1.72 billion yuan in the annual report, with the latter accounting for 78.63% of reported income [9][12]. Regulatory Response - The company faced multiple penalties, with 12 current and former executives fined approximately 40 million yuan, and two key individuals banned from the market for life [2][11]. - *ST Zitian's refusal to cooperate with regulatory investigations further aggravated its penalties, as it failed to submit required financial documents and obstructed enforcement actions [3][11]. Delisting Risks - *ST Zitian is facing three major delisting risks: potential "normative delisting" due to significant accounting errors, "major illegal delisting" due to repeated false reporting, and failure to disclose the 2024 annual report on time [12][13][14]. - The company is likely to become the first case of "normative delisting" under new regulations if it does not rectify its financial reporting issues by the specified deadlines [12][14]. Investor Actions - Investors have begun filing civil compensation lawsuits against *ST Zitian, reflecting growing concerns over the company's financial misconduct and the impact on shareholders [4][16].

Summary of Key Points Core Insights - The report highlights the suspension of multiple ETFs and REITs on June 30, 2025, to protect investor interests, indicating a significant market event that may impact investor sentiment and trading strategies [2][3][4]. Company and Industry Analysis - The Invesco S&P Consumer Select ETF (QDII) and the Guotai S&P 500 ETF are both set to suspend trading for one hour starting from the market opening on June 30, 2025, reflecting regulatory measures to safeguard investors [2]. - The CICC China Green Development Commercial REIT will also experience a one-hour suspension on the same date, emphasizing the trend of temporary trading halts in response to market conditions [2]. - The CICC Yizhuang Industrial Park REIT will suspend trading for one hour and resume at 10:30 AM on June 30, 2025, indicating a structured approach to managing trading activities [2]. - Several companies, including Tianmao Group and Alloy Investment, are facing special suspensions due to their inability to disclose periodic reports or due to planned control changes, which may signal underlying issues within these firms [2][3]. - The report lists numerous other securities that have been suspended for various reasons, including continuous losses and regulatory compliance issues, which could reflect broader challenges in the market environment [3][4][5].

Group 1 - The Chinese Ministry of Commerce criticizes the US for imposing unilateral tariffs on global trade partners, stating it undermines multilateral trade systems and normal international trade order [3] - The Chinese Embassy in Canada expresses strong opposition to the Canadian government's order for Hikvision Canada to cease operations, emphasizing the need for fair treatment of Chinese enterprises [3] - The Shanghai and Shenzhen Stock Exchanges announce plans to reform the ChiNext board to support high-quality innovative companies and enhance financing flexibility [4] - The National Development and Reform Commission allocates an additional 1 billion yuan for emergency recovery efforts in flood-affected areas of Guizhou Province [4] Group 2 - Guizhou's Yongjiang County raises its flood emergency response to Level I, with over 41,000 people evacuated due to severe flooding [5] - A new round of heavy rainfall is expected in various regions of China, with potential for significant flooding in certain rivers [6] - Former chairman of China Eastern Airlines, Liu Shaoyong, is under investigation for serious violations of discipline and law [6] Group 3 - Tesla successfully completes its first fully autonomous delivery of the Model Y, showcasing advancements in autonomous driving technology [10] - Xiaomi's Yu7 standard version achieves a real-world range of 784 km, with delivery timelines announced for various configurations [11] - The launch of China's first large-scale power generation model, "Qingyuan," aims to enhance the efficiency and safety of the power generation industry [12] - Pop Mart issues an apology for delayed shipments due to a surge in orders, reflecting the booming demand in the collectible toy market [13] - ST Zhitian faces potential delisting due to significant financial fraud, highlighting the regulatory scrutiny on financial misconduct [14] - Warren Buffett donates $6 billion worth of Berkshire Hathaway stock to charitable foundations, marking a significant contribution to philanthropy [15]

Core Viewpoint - *ST Zitian is facing severe penalties and potential delisting due to significant financial misconduct, including inflated revenues and profits, as well as non-compliance with regulatory requirements [1][19]. Financial Violations - The company has been found to have inflated revenues by a total of 24.99 billion yuan over the years 2022 and 2023, which constitutes 63.53% of the total reported annual revenue for those years [1][19]. - Specific instances of financial misconduct include: - In 2022, the company inflated revenue by 2.28 billion yuan (13.08% of reported revenue) by incorrectly recognizing income from internet advertising services [5]. - The company also reported fictitious SMS sending services, leading to an inflated revenue of 7.78 billion yuan (44.59% of reported revenue) and inflated profit of 0.85 billion yuan (35.99% of reported profit) for 2022 [5]. - For the first half of 2023, the company prematurely recognized revenue of 2.07 billion yuan (14.56% of reported revenue) and profit of 0.79 billion yuan (51.64% of reported profit) from unverified cloud services [5]. - In 2023, the company inflated revenue by 17.2 billion yuan (78.63% of reported revenue) from the same internet advertising services [5]. Regulatory Actions - The regulatory body has issued multiple administrative penalties against *ST Zitian, including a total fine of approximately 40 million yuan for various violations, including obstructing law enforcement [6][8]. - The company has been warned and fined for failing to disclose its annual report within the legal timeframe, with fines totaling 3.5 million yuan for the company and additional fines for its executives [8]. Risk of Delisting - The company is at high risk of delisting due to multiple violations, including failure to rectify issues within the specified timeframe, major legal violations, and failure to disclose annual reports [2][19]. - The company has been placed under a delisting risk warning, and if it does not complete necessary rectifications within two months, it may face termination of its stock listing [17][22]. Management and Compliance Issues - The management team has been uncooperative during regulatory investigations, failing to provide required financial documents and not responding to communications from regulatory authorities [11][12]. - The company has not initiated the necessary audit and reporting processes for its annual report, leading to further compliance issues [14][15].

证券代码：300280 证券简称：*ST紫天 公告编号：2025-029 福建紫天传媒科技股份有限公司 关于公司股票停牌进展暨可能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信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 警示。若公司股票交易被实施退市风险警示之日起的两个月内仍未完成整改的，公 司股票可能会被终止上市。 二、停牌进展及后续影响 因公司未能在法定期限内披露年度报告，公司股票在定期报告披露期限届满后 次一交易日（2025年5月6日）开市起继续实施停牌。若停牌后两个月内仍未披露年 度报告，预计公司股票于2025年7月7日复牌。 三、其他风险提示 重要提示： 1、福建紫天传媒科技股份有限公司(以下简称"公司")于2025年2月14日收到 中国证券监督管理委员会福建监管局（以下简称"福建证监局"）出具的《关于对 福建紫天传媒科技股份有限公司采取责令改正措施的决定》（〔2025〕7号，以下 简称"《决定书》"）。因公司财务会计报告存在虚假记载，福建证监局责令公司 自收到决定书之日起30日内对相关年度报告进行更正并经会计师事务所全面审计。 截至目前，公司尚未聘请具备证券、期货 ...

证券代码：300280 证券简称：*ST紫天 公告编号：2025-028 福建紫天传媒科技股份有限公司 关于公司股票停牌进展暨可能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信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要提示： 1、福建紫天传媒科技股份有限公司(以下简称"公司")于2025年2月14日收到 中国证券监督管理委员会福建监管局（以下简称"福建证监局"）出具的《关于对 福建紫天传媒科技股份有限公司采取责令改正措施的决定》（〔2025〕7号，以下 简称"《决定书》"）。因公司财务会计报告存在虚假记载，福建证监局责令公司 自收到决定书之日起30日内对相关年度报告进行更正并经会计师事务所全面审计。 截至目前，公司尚未聘请具备证券、期货相关业务资格的会计师事务所，也未向福 建证监局提交整改报告。根据《深圳证券交易所创业板股票上市规则》的相关规定， 2025年5月20日起，公司股票被实施退市风险警示。若公司股票交易被实施退市风 险警示之日起的两个月内仍未完成整改的，公司股票可能会被终止上市。 2、因公司未能在法定期限内披露年度报告，公司股票自2025年5月6日起继续 停牌 ...

证券代码：300280 证券简称：*ST紫天 公告编号：2025-027 福建紫天传媒科技股份有限公司 关于公司股票停牌进展暨可能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信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要提示： 1、福建紫天传媒科技股份有限公司(以下简称"公司")于2025年2月14日收到 中国证券监督管理委员会福建监管局（以下简称"福建证监局"）出具的《关于对 福建紫天传媒科技股份有限公司采取责令改正措施的决定》（〔2025〕7号，以下 简称"《决定书》"）。因公司财务会计报告存在虚假记载，福建证监局责令公司 自收到决定书之日起30日内对相关年度报告进行更正并经会计师事务所全面审计。 截至目前，公司尚未聘请具备证券、期货相关业务资格的会计师事务所，也未向福 建证监局提交整改报告。根据《深圳证券交易所创业板股票上市规则》的相关规定， 2025年5月20日起，公司股票被实施退市风险警示。若公司股票交易被实施退市风 险警示之日起的两个月内仍未完成整改的，公司股票可能会被终止上市。 2、因公司未能在法定期限内披露年度报告，公司股票自2025年5月6日起继续 停牌 ...