东方通被证监会立案调查，涉嫌连年财务造假陷入退市危机

Core Viewpoint - Dongfang Tong (东方通) is facing severe financial scrutiny due to allegations of false financial reporting, which could lead to mandatory delisting if found guilty [1][2][4] Financial Issues - The China Securities Regulatory Commission (CSRC) has initiated an investigation into Dongfang Tong for suspected false reporting of financial data [2] - In 2022, the company had to revise its net profit from a profit of 59.21 million yuan to a loss of 39.37 million yuan due to improper revenue recognition [2] - The company is projected to incur a net loss of 432 million to 537 million yuan for the fiscal year 2024, although this represents an improvement from the previous year's loss of 673 million yuan [3] Market Reaction - Following the announcement of the investigation, Dongfang Tong's stock price dropped by the maximum limit of 20%, closing at 11.99 yuan per share, resulting in a market capitalization decrease to 6.689 billion yuan, evaporating over 1.6 billion yuan in value [1][4] Audit and Compliance Concerns - The company's auditing firm faced criticism for inadequate risk assessment and procedural execution during the audit of the 2023 financial report, leading to a warning from the Beijing Securities Regulatory Bureau [2] - Frequent changes in the auditing team have raised concerns regarding the independence and transparency of the company's financial reporting [3] Investor Impact - Over 60,000 shareholders are currently facing significant risks due to the company's financial instability and potential delisting [3] - Legal avenues for compensation are being explored for investors who suffered losses, particularly those who purchased shares before April 14, 2025 [4]