Core Viewpoint - The China Securities Regulatory Commission (CSRC) has identified *ST Dongtong (300379.SZ) as a serious financial fraud case, leading to a proposed fine of 273 million yuan and the initiation of delisting procedures due to fraudulent activities from 2019 to 2022 [2][8]. Group 1: Financial Fraud Details - *ST Dongtong was found to have inflated revenues and profits through its subsidiary, Beijing Taice Technology Co., Ltd., by fabricating business activities and prematurely recognizing income [5]. - The inflated revenues from 2019 to 2022 were approximately 61.45 million yuan, 84.85 million yuan, 125.50 million yuan, and 160.53 million yuan, representing 12.29%, 13.25%, 14.54%, and 17.68% of the reported revenues for those years, respectively [5]. - The inflated profits during the same period were approximately 52.23 million yuan, 58.77 million yuan, 79.48 million yuan, and 123.69 million yuan, accounting for 34.11%, 22.72%, 30.35%, and 219.43% of the reported profits, respectively [5]. Group 2: Regulatory Actions - The CSRC has proposed a total fine of 273 million yuan, which includes a 229 million yuan penalty for the company and additional fines for the chairman and other responsible parties [7]. - The chairman, Huang Yongjun, faces a 10-year ban from the securities market due to his significant role in the fraudulent activities [7]. - The CSRC has indicated that the case may involve criminal elements, and relevant information will be forwarded to law enforcement agencies [8]. Group 3: Impact on Investors - As of June 2025, *ST Dongtong had approximately 56,000 shareholders, and the stock price had dropped over 50% since the investigation began in April 2025 [9]. - The company's market capitalization was approximately 3.67 billion yuan as of September 12, 2025, with a closing price of 6.58 yuan per share [9]. - Investors affected by the fraud may pursue legal action for compensation, particularly those who held shares from April 29, 2020, to April 14, 2025 [10].

9月12日，"证监会发布"信息显示：证监会严肃查处东方通严重财务造假案件。通报称，近日证监会对深交所创业板上市公司北京东方通科技股份有限 公司（以下简称*ST东通）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，*ST东通连续四年虚增收入和利润，违反证券法律法规。证监会拟对*ST东通罚款2.29亿元，对7名责任人合计罚款4400万元，对实际控制人采取 10年证券市场禁入。 证监会指出，*ST东通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。 9月12日晚间，*ST东通对此次行政处罚事先告知书的内容予以公告。 根据告知书认定事实，*ST东通2019年至2022年度报告存在虚假记载、2022年向 特定对象发行股票构成欺诈发行。 经查，2018年12月，东方通收购泰策科技100%股权，泰策科技成为东方通全资子公司。2019年至2022年期间，东方通通过泰策科技虚构业务、提前确 认收入等方式虚增收入、利润，导致东方通披露的2019年至2022年年度报告存在虚假记载。 同时，2022年6月至11月，东方通多次披露《向特定对象发行A股股票之募集说明书》申报稿或注册稿。2023年6月，东方通披露《 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative penalty against Beijing Orient Telecom Technology Co., Ltd. (*ST Dongtong) for falsifying financial data in its periodic reports, leading to significant penalties and potential delisting [1][2] Group 1: Financial Misconduct - *ST Dongtong has inflated its revenue and profits for four consecutive years, violating securities laws [1] - The inflated revenue figures from 2019 to 2022 are as follows: 61.45 million, 84.85 million, 125.51 million, and 160.53 million respectively [1] - The inflated profit figures for the same period are: 52.23 million, 58.77 million, 79.48 million, and 123.69 million respectively, with the 2022 inflated profit amounting to 219.43% of the reported total profit for that year [1] Group 2: Penalties and Consequences - The CSRC plans to impose a fine of 229 million on *ST Dongtong and a total of 44 million on seven responsible individuals [1] - The actual controller of *ST Dongtong faces a 10-year ban from the securities market [1] - The CSRC has indicated that *ST Dongtong's actions may lead to mandatory delisting procedures initiated by the Shenzhen Stock Exchange [2]

Core Viewpoint - *ST Dongtong (300379.SZ) is facing severe penalties for financial fraud, with the China Securities Regulatory Commission (CSRC) proposing a fine of 229 million yuan and initiating delisting procedures due to significant violations of securities laws [1][2]. Financial Misconduct - From 2019 to 2022, *ST Dongtong inflated its revenue by a total of 432 million yuan and profits by 314 million yuan through fictitious business activities and premature revenue recognition [2][3]. - The inflated revenues represented 12.29%, 13.25%, 14.54%, and 17.68% of the reported revenues for the respective years, while the inflated profits accounted for 34.11%, 22.72%, 30.35%, and 219.43% of the reported profits [2]. Administrative Actions - The CSRC has issued a notice of administrative penalties, proposing fines of 229 million yuan for the company and 44 million yuan for seven responsible individuals, with the actual controller facing a 10-year ban from the securities market [1][3]. - The company’s actual controller, Huang Yongjun, is directly responsible for the fraudulent activities and has been under investigation for violations of information disclosure laws [3]. Company Background - Established in August 1997 and listed in January 2014, *ST Dongtong is a provider of security and industry information solutions, offering middleware, network security, and digital products [4]. - The company has reported continuous losses from 2022 to 2024, with a net loss of 55.16 million yuan in the first half of this year [4].

Group 1 - The State Council, led by Premier Li Qiang, held a meeting to discuss flood prevention and disaster relief, promote private investment, and review regulations on biomedical technology [2] - The U.S. stock market showed mixed results, with the Dow Jones down 0.59%, S&P 500 down 0.05%, and Nasdaq up 0.44%, reaching a new closing high [2] - International gold and silver futures prices increased, with COMEX gold up 0.19% at $3680.70 per ounce and silver up 1.26% at $42.68 per ounce [3] Group 2 - International oil prices saw slight gains, with WTI crude oil up 0.37% at $62.60 per barrel and Brent crude up 0.77% at $66.88 per barrel [4] - European stock indices closed mixed, with Germany's DAX down 0.02%, France's CAC40 up 0.02%, and the UK's FTSE 100 down 0.15% [5] - The People's Bank of China announced a 600 billion yuan reverse repurchase operation to maintain liquidity in the banking system [7] Group 3 - The Ministry of Commerce confirmed that Chinese Vice Premier He Lifeng will meet with U.S. Treasury Secretary in Spain to discuss trade issues, including tariffs and export controls [6] - The central bank reported that as of the end of August, M2 money supply was 331.98 trillion yuan, up 8.8% year-on-year, while M1 was 111.23 trillion yuan, up 6% [8] - The Ministry of Finance met with representatives from international investment institutions, emphasizing China's economic resilience and inviting foreign investment [9] Group 4 - The State Tobacco Monopoly Administration issued regulations for the management of tobacco products in the domestic duty-free market [10] - China's Long March 10 rocket successfully completed its second tethered ignition test, marking a significant milestone in its development [11] - The Financial Regulatory Bureau revised the consumer rights protection evaluation method for financial institutions, enhancing the evaluation process and collaboration [12] Group 5 - The Ministry of Industry and Information Technology will solicit public opinions on standards for intelligent connected vehicles' combined driving assistance systems [13] - Guizhou Moutai responded to market concerns regarding the price drop of its products and discussed potential stock splits during a half-year performance meeting [17] - WeChat introduced new features to enhance user experience, including options to delete contacts while retaining chat history [18] Group 6 - Xibei responded to accusations regarding the use of pre-prepared dishes, asserting transparency by opening its kitchen for public visits [19] - Apple faced high demand for the iPhone 17 series, causing website crashes during the pre-sale [20] - The China Securities Regulatory Commission announced penalties for Beijing Dongtong Technology for financial fraud, proposing fines totaling 2.29 billion yuan [21] Group 7 - Neta Auto held its first creditors' meeting, confirming debts of approximately 5.1 billion yuan amid bankruptcy restructuring [22] - RT-Mart addressed allegations of a senior executive's involvement in a criminal investigation, emphasizing its commitment to compliance [23] - TCL Technology announced plans to invest 29.5 billion yuan in an 8.6-generation printed OLED production line, aiming to enhance competitiveness in the display industry [24]

Group 1 - The China Securities Regulatory Commission (CSRC) has issued an administrative penalty against Beijing Orient Telecom Technology Co., Ltd. (*ST Dongtong) for suspected false reporting of financial data [1] - *ST Dongtong has inflated its revenue and profits for four consecutive years, violating securities laws and regulations [1] - The CSRC plans to impose a fine of 229 million yuan on the company and a total of 44 million yuan on seven responsible individuals, while the actual controller will face a 10-year ban from the securities market [1] Group 2 - *ST Dongtong is suspected of triggering major illegal circumstances that could lead to mandatory delisting, prompting the Shenzhen Stock Exchange to initiate delisting procedures [1] - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with relevant legal standards [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative punishment against Beijing Dongfangtong Technology Co., Ltd. (*ST Dongtong*) for falsifying financial data over four consecutive years, leading to potential delisting from the Shenzhen Stock Exchange [1][2]. Group 1: Company Actions and Penalties - *ST Dongtong* is facing a fine of 229 million yuan for the company and a total of 44 million yuan for seven responsible individuals, with the actual controller facing a 10-year ban from the securities market [1]. - The CSRC has initiated delisting procedures for *ST Dongtong* due to serious violations, including fraudulent issuance of stocks in 2022 [1][2]. - The company’s chairman, Huang Yongjun, has been fined 26.5 million yuan and banned from the securities market for 10 years for his role in the violations [2]. Group 2: Financial Misconduct Details - From 2019 to 2022, *ST Dongtong* inflated its revenue and profits through fictitious business activities and premature revenue recognition via its wholly-owned subsidiary, Beijing Taice Technology Co., Ltd. [2]. - The company’s 2019 to 2022 annual reports contained false financial data, which was also referenced in its 2022 fundraising prospectus, constituting fraudulent issuance [2]. Group 3: Industry Context and Regulatory Response - The capital market has seen stringent actions against financial fraud, with significant penalties imposed on other companies and individuals involved in similar misconduct, reflecting a tough regulatory stance [3]. - The regulatory environment is evolving to create a comprehensive deterrent system against financial fraud, aiming to protect investor interests and maintain market integrity [3].

从公司基本面来看，2023年以来，公司连续大额亏损。据Wind数据统计，2023年至2024年，公司归母净利润分别-6.73亿 元、-5.76亿元；今年上半年，公司继续亏损，归母净利润为-0.55亿元。 本报记者 吴晓璐 据证监会网站9月12日消息，近日，证监会对深交所创业板上市公司北京东方通科技股份有限公司（以下简称"*ST东通"） 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，*ST东通连续四年虚增收入和利润，违反证券法律法规，证监会拟对上市公司罚款2.29亿元，对7名责任人合计罚款 4400万元，合计罚款2.73亿元，对实际控制人采取10年证券市场禁入。 证监会表示，*ST东通涉嫌触及重大违法强制退市情况，深交所将依法启动退市程序。对于可能涉及的犯罪线索，证监会 将坚持应移尽移的工作原则，按照相关规定移送公安机关。 据记者了解，*ST东通是今年第12家因财务造假而涉嫌触及重大违法强制退市的公司，年内触及重大违法强制退市的公司 数量创历年新高。在市场人士看来，今年以来，触及重大违法强制退市公司数量创新高，说明监管部门对财务造假动真格，形 成了强大的执法震慑，促使上市公司及其"关键少数"更 ...

Group 1 - The China Securities Regulatory Commission (CSRC) announced administrative penalties against Beijing Orient Telecom Technology Co., Ltd. (*ST Dongtong) for suspected false reporting of financial data [2] - *ST Dongtong has inflated revenue and profits for four consecutive years, violating securities laws and regulations [2] - The CSRC plans to impose a fine of 229 million yuan on the company and a total of 44 million yuan on seven responsible individuals, while the actual controller will face a 10-year ban from the securities market [2] Group 2 - *ST Dongtong is suspected of major violations that could lead to mandatory delisting, prompting the Shenzhen Stock Exchange to initiate delisting procedures [2] - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with relevant legal standards [2]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative punishment against Beijing Orient Telecom Science & Technology Co., Ltd. (*ST Dongtong*) for suspected false reporting of financial data, indicating serious violations of securities laws and regulations [1][3]. Group 1: Financial Misconduct - *ST Dongtong* has inflated its revenue and profits for four consecutive years, leading to significant legal repercussions [3]. - The CSRC plans to impose a fine of 229 million yuan on the company and a total of 44 million yuan on seven responsible individuals [3]. - The actual controller of *ST Dongtong* faces a 10-year ban from the securities market due to these violations [3]. Group 2: Potential Consequences - The company is suspected of major illegal activities that could lead to mandatory delisting, prompting the Shenzhen Stock Exchange to initiate delisting procedures [3]. - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with relevant legal standards [3]. Group 3: Market Impact - As of September 12, *ST Dongtong*'s stock price closed at 6.58 yuan, reflecting a decline of over 56% year-to-date, with a total market capitalization of 3.671 billion yuan [4].