锦富技术(300128.SZ)收到江苏证监局行政处罚决定

Core Viewpoint - The company, Jinfu Technology, has been penalized by the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission for falsely reporting revenue in 2021 due to improper accounting practices related to its metal trading business [1][2] Summary by Sections Company Violations - Jinfu Technology and its subsidiary, Shanghai Zhifu High Polymer Materials Co., Ltd., engaged in metal trading with suppliers and customers, but only fulfilled funding obligations and received fixed interest, which should not have been recognized as revenue according to accounting standards [1] - The company overstated its revenue by CNY 52.9388 million in Q1, CNY 111 million in the first half, and CNY 172 million in the first three quarters of 2021, representing 20.02%, 21.14%, and 20.74% of the reported revenue for those periods respectively [1] Regulatory Actions - The Jiangsu Regulatory Bureau decided to issue a warning to Jinfu Technology and impose a fine of CNY 4 million; individual penalties were also levied against several executives, including CNY 1.2 million on Gu Qing, CNY 1 million on Deng Hao, CNY 800,000 on Fang Yonggang, and CNY 500,000 on Zhang Wei [2]