Jiangsu wuzhong(SH:600200) Di Yi Cai Jing·2025-07-13 14:52Core Viewpoint - *ST Suwu has been identified for continuous financial fraud over four years, leading to a significant violation that may result in mandatory delisting from the stock market [2][4]. Financial Misconduct - The company has been found to have inflated revenue and profit figures from 2020 to 2023, with inflated revenues of 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion respectively, representing 26.46%, 26.39%, 21.26%, and 16.82% of the reported revenues for those years [2][3]. - The inflated profit totals for the same period were 145.83 million, 202.71 million, 199.24 million, and 212.19 million, accounting for 2.89%, 51.65%, 26.42%, and 29.81% of the reported profits [2][3]. Non-Disclosure of Related Party Transactions - The company failed to disclose significant non-operating fund occupations by related parties, with balances of 127 million, 1.393 billion, 1.543 billion, and 1.693 billion from 2020 to 2023, which constituted 6.88%, 74.20%, 84.60%, and 96.09% of the net assets reported [3]. Regulatory Actions and Consequences - Following the identification of these violations, *ST Suwu is subject to a fine of 10 million and faces mandatory delisting as per the stock exchange regulations [2][4]. - The company must disclose updates on its situation every five trading days during the delisting risk warning period, and its stock will be suspended pending the final delisting decision [4]. Investor Protection and Legal Accountability - The China Securities Regulatory Commission (CSRC) emphasizes that companies facing delisting will still be held accountable for their illegal activities, ensuring that investors can pursue civil compensation for false statements [5][6]. - The CSRC's approach includes strict enforcement of repayment obligations for fund occupations and a commitment to investor protection through legal frameworks [6].