Guo Ji Jin Rong Bao·2025-06-20 13:45Core Points - The company, Jinzhou Port Co., Ltd. (ST Jin Gang), announced that it will be delisted from the Shanghai Stock Exchange due to serious financial misconduct [1][3] - The delisting process will begin on June 30, 2025, with the last trading day expected to be July 18, 2025, allowing for a 15-day trading period [3] - The company has been found to have inflated profits in multiple financial reports, with significant discrepancies noted in the years 2022, 2023, and the first quarter of 2024 [3][4] Financial Misconduct - The company inflated profits by CNY 36.10 million in 2022 (22.46% of total reported profit), CNY 68.08 million in 2023 (65.96%), and CNY 15.38 million in Q1 2024 (62.05%) [3] - From 2018 to 2021, the company inflated revenues by approximately CNY 8.62 billion and profits by CNY 179 million over four years [4] - Overall, the company has engaged in financial fraud for seven consecutive years from 2018 to 2024 [5] Market Context - Since 2025, 13 companies have completed the delisting process in the A-share market, with various reasons including violations leading to mandatory delisting [5]