*ST九有退市与造假“双响炮”：监管重拳击穿四年造假迷雾

Group 1 - The core point of the article is the termination of *ST Jiuyou's listing due to financial fraud, marking the end of its capital market journey and highlighting the severe penalties imposed by regulatory authorities [1][2] - The company engaged in systematic financial fraud over four years, starting in 2020, by misclassifying funds and inflating profits, which led to a total revenue inflation exceeding 350 million yuan and profit inflation of over 34 million yuan [2] - The regulatory crackdown on *ST Jiuyou is part of a broader trend, with other companies facing similar fates, indicating a tightening of regulations against shell companies and zombie enterprises in the market [4] Group 2 - The penalties imposed on the company's former actual controller and other responsible individuals reflect a comprehensive accountability approach, with fines ranging from 500,000 to 3 million yuan for various executives [3] - The case has activated investor relief mechanisms, allowing investors who suffered losses during a specific period to pursue legal claims for compensation, indicating a maturing system for investor protection in the A-share market [3] - The use of non-traditional evidence, such as WeChat chat records and bank statements, demonstrates the effectiveness of regulatory technology in uncovering complex fraudulent activities [4]