600462，被终止上市！证监会也开出罚单

Core Viewpoint - *ST Jiuyou (600462) has received a decision from the Shanghai Stock Exchange to terminate its stock listing due to negative net assets as of the end of 2023, following a series of financial irregularities and audit issues [1][3]. Summary by Sections Termination of Listing - The Shanghai Stock Exchange decided to terminate the listing of *ST Jiuyou's stock effective June 16, 2025, due to the company's negative net assets reported for the fiscal year ending 2023 [1][3]. - The stock was placed under delisting risk warning starting May 6, 2024, and will enter a delisting preparation period from June 24, 2025, lasting for 15 trading days, with the expected last trading day on July 14, 2025 [3][4]. Financial Irregularities - The company faced significant issues with its financial reporting, including an inability to express an opinion on its 2024 financial statements and internal control reports [3]. - The 2020 annual report contained major omissions and false records regarding related party transactions, inflating profits by 63.97 million yuan, which constituted 471.03% of the reported profit for that period [6][7]. - From 2021 to 2023, *ST Jiuyou's subsidiaries engaged in practices that artificially inflated revenue and profits, leading to false records in annual reports, with specific inflated amounts of 43.71 million yuan (2021), 151 million yuan (2022), and 164 million yuan (2023) [7][8]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) issued a notice of administrative penalty, proposing fines totaling 8.5 million yuan for the company and various penalties for individuals involved, including a 10-year market ban for the actual controller [8][6]. - The penalties include fines for several executives, with amounts ranging from 60,000 yuan to 1.5 million yuan, depending on their roles in the violations [8].