财务造假后五次提示退市风险，*ST广道午盘再度涨超20%

Core Viewpoint - *ST Guangdao has experienced significant stock price volatility, with a cumulative increase of over 100% in a month, despite facing serious allegations of financial misconduct and potential delisting risks [2][3][4]. Group 1: Stock Performance and Market Reaction - On July 15, *ST Guangdao opened lower but quickly rebounded, reaching a price of 6.84 yuan, a rise of 22.58% [2]. - The stock has been suspended for trading three times due to abnormal fluctuations, with a notable increase in stock price over the past month [2]. - Following the financial scandal, the stock price plummeted to a low of 2.40 yuan on June 23, but subsequently saw a surge, including consecutive daily limits of 30% on June 25 and 26 [5]. Group 2: Regulatory Actions and Investigations - On December 4, *ST Guangdao received a notice from the China Securities Regulatory Commission (CSRC) regarding a formal investigation into information disclosure violations [3]. - The company’s 2024 annual report received an audit opinion of "unable to express an opinion" from Zhongshun Hua Accounting Firm due to concerns over prior errors, the impact of the CSRC investigation, and significant uncertainties regarding the company's ability to continue as a going concern [3]. - The Shenzhen Securities Regulatory Bureau has proposed a fine of 10 million yuan for *ST Guangdao and 15 million yuan for its actual controller, Jin Wenming, along with lifetime bans from the securities market for key individuals involved [5]. Group 3: Financial Misconduct Allegations - *ST Guangdao has been accused of fabricating sales and procurement activities through false contracts and invoices, leading to inflated revenue and costs [4]. - The actual controller, Jin Wenming, is alleged to have knowingly allowed and facilitated the company's financial fraud, coordinating third-party loans and approving related transactions [4].