YUNNEI POWER(SZ:000903) Zheng Quan Zhi Xing·2025-07-08 15:12Core Viewpoint - Kunming Yunnei Power Co., Ltd. is facing administrative penalties from the China Securities Regulatory Commission (CSRC) due to violations related to information disclosure in its 2021 and 2022 annual reports, which included false records and accounting irregularities [1][2][10]. Summary by Sections Administrative Penalty Notification - The company and several key personnel received an administrative penalty notice from the Yunnan Securities Regulatory Bureau, indicating that they are under investigation for suspected violations of information disclosure laws [2][3]. Violations Identified - The company was found to have inaccuracies in accounting for sales rebates, supplier compensation, and period expenses, leading to a false reduction in reported revenue and profits for both 2021 and 2022 [4][5]. - Specific figures include a false reduction of operating income by 16,293,063.23 yuan and total profit by the same amount for 2021, and various inaccuracies in 2022 that inflated or deflated financial metrics [4][7][9]. Impact on Financial Statements - The violations resulted in a 13.51% reduction in reported profit for 2021 and a 7.84% reduction in reported profit for 2022, with significant discrepancies in revenue recognition practices [9][10]. - The company also failed to accurately account for inventory impairment and accounts receivable credit impairment, further complicating its financial reporting [8][9]. Penalties Imposed - The company has been ordered to correct its practices, receive a warning, and pay a fine of 6 million yuan. Key executives, including the chairman and former general managers, face individual fines ranging from 60,000 to 200,000 yuan [15]. Future Compliance Measures - The company has committed to improving its internal control systems and enhancing compliance with information disclosure regulations to prevent future violations [14].