据行政处罚事先告知书，安徽证监局查明，立方数科通过开展代理业务、融资性贸易、虚假贸易虚增营 业收入、营业成本、利润总额，导致立方数科披露的2021年至2023年年度报告存在虚假记载。 2025年4月28日，因定期报告涉嫌信息披露违法违规，立方数科被证监会立案调查。至此，历时7个月， 初步处罚结论终于出炉。 "连夜挂跌停板出货，还有逃跑的机会吗？"2025年11月28日深夜，一位投资者在ST立方（300344.SZ， 下称"立方数科"）股吧中如此询问。在立方数科的3万名股东中，不少人正寝食难安。 11月28日晚间，立方数科发布公告称，公司当天收到证监会安徽监管局（下称"安徽证监局"）行政处罚 事先告知书，因被认定2021年至2023年连续三年财务造假，安徽证监局拟对公司及10名责任人罚款合计 4000万元，其中拟对公司罚款1000万元。 广东环宇京茂律师事务所徐越惠律师在接受《华夏时报》记者采访时表示，立方数科通过开展代理业 务、融资性贸易、虚假业务三种手段造假，使得公司财务报表完全失去了真实性和公允性。若正式处罚 落地，其造假行为将直接触发退市新规中的重大违法强制退市条款。投资者如因立方数科财务造假蒙受 损失 ...

立方数科连续三年虚增收入和成本，严重违反证券法律法规，安徽证监局拟对立方数科处以1000万元罚 款，对汪逸等10名责任人合计罚款3000万元。立方数科涉嫌触及重大违法强制退市情形，深交所将依法 启动退市程序。值得注意的是，证监会同步对本案所涉的中兴财光华会计师事务所立案调查，涉嫌未能 勤勉尽责的将依法严惩。此案是首例上市公司领罚单，中介机构被同步立案的典型，体现了监管部门打 击财务造假"追首恶"与"打帮凶"并重的导向，标志着全方位、立体式的综合惩防体系进一步走向深入。 （华夏时报） 钛媒体App 11月29日消息，近日，证监会对上市公司立方数科股份有限公司涉嫌定期报告等财务数据存 在虚假记载作出行政处罚事先告知。经查，2021年至2023年，立方数科通过开展代理业务、融资性贸 易、虚假贸易等方式，累计虚增收入6.38亿元、成本6.28亿元。其中，2021年收入、成本分别虚增2.80 亿元、2.77亿元，2022年收入、成本分别虚增3.12亿元、3.05亿元，2023年收入、成本分别虚增0.46亿 元、0.45亿元。 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative punishment against Lifan Shuke Co., Ltd. for suspected false reporting of financial data, indicating a serious violation of securities laws and regulations [1] Financial Irregularities - From 2021 to 2023, Lifan Shuke inflated its revenue by a total of 638 million yuan and costs by 628 million yuan through various means including agency business, financing trade, and false trade [1] - In 2021, the inflated revenue and costs were 280 million yuan and 277 million yuan respectively; in 2022, they were 312 million yuan and 305 million yuan; and in 2023, they were 46 million yuan and 45 million yuan [1] Regulatory Actions - The Anhui Securities Regulatory Bureau plans to impose a fine of 10 million yuan on Lifan Shuke and a total of 30 million yuan on 10 responsible individuals including Wang Yi [1] - The Shenzhen Stock Exchange will initiate delisting procedures for Lifan Shuke due to serious violations that may lead to mandatory delisting [1] - The CSRC is also investigating Zhongxing Financial Guanghua Accounting Firm for failing to perform due diligence, indicating a comprehensive approach to tackling financial fraud [1]

Core Viewpoint - ST Lifan (立方数科) has been found guilty of serious financial fraud over three consecutive years, leading to potential penalties and a forced delisting from the Shenzhen Stock Exchange [2][3][6]. Summary by Sections Financial Fraud Details - From 2021 to 2023, ST Lifan inflated its revenue by 638 million yuan and its costs by 628 million yuan through fraudulent activities including agency business, financing trade, and fictitious transactions [4][5]. - The specific annual inflation figures include 280 million yuan in 2021, 312 million yuan in 2022, and 46 million yuan in 2023 for revenue, and similar figures for costs [4]. Regulatory Actions - The Anhui Securities Regulatory Bureau has proposed a total fine of 40 million yuan, with 10 million yuan directed at the company and 30 million yuan against 10 responsible individuals [5]. - Key executives, including the chairman and general manager, face individual fines and potential market bans for their roles in the fraud [5]. Market Impact - Following the announcement, ST Lifan's stock price fell by 5.6% to 3.36 yuan per share, marking a significant decline of approximately 78% from its peak of 15.26 yuan earlier in the year [8][10]. - The company is expected to face a challenging market environment upon resuming trading after a one-day suspension [10]. Legal Implications for Investors - Investors who suffered losses due to the financial fraud may have the right to file lawsuits for compensation, particularly those who bought shares between April 25, 2022, and April 29, 2025 [10][11].

Core Viewpoint - The case of ST Lifan highlights the severe consequences of systematic financial fraud in the A-share market, leading to administrative penalties and potential delisting due to significant violations of financial reporting standards [3][4]. Group 1: Company Overview - ST Lifan (300344.SZ) is facing administrative penalties and a potential delisting process due to long-term systematic financial fraud, as announced by the China Securities Regulatory Commission (CSRC) [3]. - The company has been found to have inflated revenues and costs by a total of 638 million yuan from 2021 to 2023, with specific annual figures indicating 280 million yuan in 2021, 312 million yuan in 2022, and 46 million yuan in 2023 [4][5]. Group 2: Regulatory Actions - The CSRC has proposed a fine of 10 million yuan against ST Lifan and a total of 30 million yuan in fines against ten responsible individuals, including a 10-year market ban for three senior executives [3][6]. - The company’s financial reports for 2021, 2022, and 2023 have been identified as containing false records, with the false revenue for 2021 and 2022 alone accounting for over 50% of the reported annual revenue [4][6]. Group 3: Fraud Mechanisms - ST Lifan employed various fraudulent methods, including agency business, financing trade, and fictitious trade, to inflate both revenue and costs [5]. - Key individuals, including the chairman and other executives, have been implicated for neglecting their duties and allowing fraudulent activities to occur [5][6]. Group 4: Market Impact - Following the announcement of the delisting risk, ST Lifan's stock price fell by 5.62% to 3.36 yuan on the day of the major delisting risk disclosure [4]. - The company is also facing additional legal challenges, including a contract dispute involving over 61 million yuan, which is linked to an ongoing criminal investigation [6]. Group 5: Investor Protection and Governance - The case underscores the need for stronger internal controls and independent oversight within companies to prevent financial misconduct [8]. - Recent legal cases in China have shown a shift towards collective investor protection mechanisms, indicating a growing trend in safeguarding investor rights against corporate fraud [7][8].

Key Points - ST立方's stock will be subject to delisting risk warning and will be suspended [1] - Tongde Chemical has been listed as a dishonest executor [1] - Shengke Nano's subsidiary plans to invest approximately 500 million yuan in the "Qingdao Testing and Analysis Capability Improvement Project" [1] - Pinggao Electric has won a bid for a 773 million yuan project from the State Grid [1] - Bright Dairy intends to acquire 40% of Xiaoxiniu for about 500 million yuan [1] - Jianbang Co. plans to repurchase shares worth 15 million to 30 million yuan [1] - China Jushi's controlling shareholder plans to increase its stake by 550 million to 1.1 billion yuan [1] - Xinyuan Intelligent Manufacturing plans to raise no more than 140 million yuan through a private placement [1] - Tianfeng Securities is under investigation by the CSRC for suspected information disclosure violations [1][2]

立方数科股份有限公司（下称"立方数科"，300344）严重财务造假案件被严肃查处。 11月28日，证监会表示，近日，证监会对上市公司立方数科涉嫌定期报告财务数据存在虚假记载作出行 政处罚及市场禁入事先告知。 "经查，2021年至2023年，立方数科通过开展代理业务、融资性贸易、虚假贸易等方式，累计虚增收入 6.38亿元、成本6.28亿元。其中，2021年收入、成本分别虚增2.80亿元、2.77亿元，2022年收入、成本分 别虚增3.12亿元、3.05亿元，2023年收入、成本分别虚增0.46亿元、0.45亿元。"证监会表示。 立方数科连续三年虚增收入和成本，严重违反证券法律法规，安徽证监局拟对立方数科处以1000万元罚 款，对汪逸等10名责任人合计罚款3000万元。同时，立方数科涉嫌触及重大违法强制退市情形，深交所 将依法启动退市程序。 此外，证监会进一步指出，决定对本案所涉会计师事务所执业行为正式立案调查，涉嫌未能勤勉尽责的 将依法严惩。对于相关违法行为可能涉及的证券犯罪问题线索，将坚持应移尽移的工作原则，依法依规 移送公安机关。 智通财经记者查阅立方数科2021年、2022年、2023年的年报显示，立方数 ...

立方数科连续三年虚增收入和成本，严重违反证券法律法规，安徽证监局拟对立方数科处以1000万元罚款，对汪逸等10名责任人合计罚款3000万 元。立方数科涉嫌触及重大违法强制退市情形，深交所将依法启动退市程序。 （原标题：300344，连续3年财务造假或被强制退市！下周解禁股名单出炉，4股业绩亏损） 下一周解禁市值594.67亿元。 11月28日，"证监会发布"微信公众号发布《安徽证监局严肃查处立方数科严重财务造假案件》通报稿，证监会近日对上市公司立方数科(300344) 涉嫌定期报告财务数据存在虚假记载作出行政处罚及市场禁入事先告知。 证监会表示，经查，2021年至2023年，立方数科通过开展代理业务、融资性贸易、虚假贸易等方式，累计虚增收入6.38亿元、成本6.28亿元。其 中，2021年收入、成本分别虚增2.80亿元、2.77亿元，2022年收入、成本分别虚增3.12亿元、3.05亿元，2023年收入、成本分别虚增0.46亿元、0.45 亿元。 同日，立方数科发布公告称，公司收到中国证券监督管理委员会安徽监管局下发的《行政处罚及市场禁入事先告知书》。根据相关规定，公司股 票于12月1日（星期一）起停牌，并于 ...

（原标题：震慑力再升级 证监会严查立方数科财务造假） 证券时报记者 程丹 近日，中国证监会对上市公司立方数科股份有限公司（以下简称"立方数科"）涉嫌定期报告财务数据存 在虚假记载作出行政处罚及市场禁入事先告知。因立方数科连续三年虚增收入和成本，严重违反证券法 律法规，安徽证监局拟对上市公司处以1000万元罚款，对10名责任人合计罚款3000万元。立方数科涉嫌 触及重大违法强制退市情形，深交所将依法启动退市程序。 值得注意的是，证监会对该案所涉的中兴财光华会计师事务所同步立案调查，未能勤勉尽责的将依法严 惩。 南开大学金融发展研究院院长田利辉认为，监管部门对于财务造假的打击，已经形成了"行政处罚+市 场禁入+刑事移送+退市执行+中介追责"的资本市场法治化的标杆组合，该机制通过预处罚释放威慑、 退市预警直击命脉、市场禁入锁定"关键少数"、刑事移送提升违法成本、同步追责强化责任意识，五环 相扣，标志着监管从"事后救火"全面转向"源头治理"。 财务造假震慑力再升级 证监会出具的行政处罚事先告知书显示，立方数科连续三年虚增收入和成本，严重违反证券法律法规。 经证监会调查，2021年至2023年，立方数科通过开展代理业务 ...

Group 1: Hong Kong Fire Incident - The fire in Tai Po, Hong Kong has resulted in 128 fatalities and 79 injuries, with an investigation expected to take three to four weeks [7][6][8] - The Hong Kong Independent Commission Against Corruption has established a special task force to investigate potential corruption related to the renovation project, leading to the arrest of 8 individuals [6][8] - The Hong Kong government will lower flags to half-mast from November 29 to December 1 to mourn the victims of the fire [6][8] Group 2: Stock Market Performance - U.S. stock indices have risen for the fifth consecutive trading day, with the Nasdaq up 0.65%, the Dow Jones up 0.61%, and the S&P 500 up 0.54% [4][6] - Major tech stocks saw significant gains, with Intel rising 10%, marking its largest single-day increase since September 18 [4][6] - Chinese concept stocks also performed well, with the Nasdaq Golden Dragon China Index up 0.54% [4][6] Group 3: Commodity Market Updates - International precious metals futures saw significant increases, with COMEX gold futures rising 1.59% to $4256.4 per ounce and COMEX silver futures rising 6.06% to $57.085 per ounce, reaching a historical high [2][4] - LME copper prices surged by 2.5%, reaching approximately $11,210 per ton, also a historical high [2][4] Group 4: Banking Sector Response - Several banks in Hong Kong have pledged financial support for disaster relief and reconstruction efforts following the Tai Po fire, with major banks announcing donations and emergency services for affected customers [8] Group 5: Regulatory Developments - The China Securities Regulatory Commission is seeking public opinion on a draft announcement for the pilot of commercial real estate investment trusts (REITs) to enhance the quality of the market [10] - The China Securities Regulatory Commission has released a draft for public consultation regarding the implementation of supervision measures in the securities and futures market [11] Group 6: Corporate News - Guizhou Moutai has elected Chen Hua as the chairman of its board and announced a share buyback plan with a budget of between 1.5 billion and 3 billion RMB [18] - Wenta Technology has issued a statement regarding the control dispute with Nexperia, urging for constructive dialogue to stabilize the global supply chain [19] - Airbus has announced that approximately 6,000 A320 aircraft require urgent software updates due to safety concerns, leading to flight cancellations by several airlines [20]