Xin Lang Cai Jing·2025-07-17 00:15Group 1: Core Issues of Financial Misconduct - Four listed companies, including *ST Yuan Cheng,退市九有, ST Zhi Zhi, and ST Zhong Qing Bao, are under investigation or have been penalized for financial fraud and disclosure violations, involving tactics such as profit inflation and concealing related party transactions [1][2][3] - *ST Yuan Cheng is being investigated for false disclosures in its annual reports from 2017 to 2023, with significant inaccuracies in revenue and profit reporting, and failure to disclose non-operational fund transactions with its actual controller [2] -退市九有's fraudulent activities included a significant profit inflation of 6397.32 million yuan in 2020, which was 471.03% of the reported profit, achieved through undisclosed related party transactions [3][4] Group 2: Specific Cases of Financial Fraud -退市九有 engaged in continuous financial fraud from 2021 to 2023, with a total of 3.59 billion yuan in inflated revenue and 3435.92 million yuan in inflated profits, involving multiple subsidiaries and key executives [4] - ST Zhi Zhi's subsidiaries were found to have fabricated business activities, leading to distorted financial data over three consecutive years from 2019 to 2021 [5] - ST Zhong Qing Bao's fraudulent practices included "circular transactions" that inflated revenue by 3361.32 million yuan in 2019, 2809.43 million yuan in 2020, and 1787.83 million yuan in 2021, along with delayed disclosure of the actual controller's criminal measures [6][7]