OGI(SH:600811) Sou Hu Cai Jing·2025-04-28 12:30Group 1 - The core point of the news is that *ST Oriental (600811.SH) has been decided to be delisted by the Shanghai Stock Exchange due to serious financial misconduct, with the delisting date set for April 30, 2025 [1] - The company inflated its revenue by a total of 16.13 billion yuan and its costs by 16.073 billion yuan from 2020 to 2023, which accounted for 13.56% to 50.44% of its revenue during those periods [1] - The company has reported significant losses over the years, with net profits of -1.719 billion yuan, -996 million yuan, and -1.557 billion yuan from 2021 to 2023, totaling over 4.2 billion yuan in losses, and an expected loss of 800 million to 1.2 billion yuan in 2024 [1] Group 2 - On March 16, 2023, *ST Oriental was subjected to a major illegal forced delisting, leading to a continuous drop in stock prices after resumption of trading [2] - The chairman Zhang Hongwei was fined 10 million yuan and banned for life from the securities market, while seven other responsible individuals were fined a total of 29 million yuan [2] - As of September 30, 2022, nearly 130,000 shareholders were affected by the company's financial issues [2] Group 3 - Wu Xiaoqiu, a prominent figure in China's financial research, emphasized the need for *ST Oriental to serve as a cautionary case similar to the Enron scandal in the U.S., advocating for severe penalties against the company [4] - He called for the company to face extreme financial penalties and imprisonment for those responsible, highlighting the importance of accountability in the market [4]