Core Viewpoint - The stock of *ST Guandao has experienced extreme volatility, with a cumulative increase of over 250% in price due to market manipulation, despite the company being embroiled in a long-term financial fraud scandal lasting seven years [1][2][5]. Group 1: Stock Price Movement - From June 25 to July 18, *ST Guandao's stock was suspended for trading three times due to abnormal fluctuations, with five instances of a 30% price increase [2][4]. - The company's market capitalization surged from less than 200 million to 630 million during this period [1][2]. - On July 16, the stock hit another 30% limit up, with trading volume reaching 161 million and a turnover rate of 40% [4]. Group 2: Market Manipulation - Two personal accounts were found to be involved in manipulating the stock price, leading to regulatory penalties from the Beijing Stock Exchange [2][4]. - The accounts engaged in practices such as maintaining the stock at limit-up prices and creating a false market atmosphere through complex trading behaviors [2][3]. Group 3: Financial Fraud - *ST Guandao has been involved in systematic financial fraud for seven years, inflating revenue by over 1.465 billion [5][6]. - The fraudulent activities included creating fake business documents and misleading financial statements, with inflated revenue accounting for up to 99.39% of reported figures in some periods [6][7]. - The company faces severe penalties, including a fine of 10 million and lifetime bans for key individuals involved in the fraud [7]. Group 4: Current Financial Status - As of the first quarter of 2025, *ST Guandao reported revenue of only 5.6 million and a net loss of 609 million, with net assets reduced to 65.42 million [7]. - Despite the inflated market capitalization due to speculative trading, the company's fundamentals are severely lacking, indicating a disconnect between market value and actual performance [7].
造假7年虚增营收超14亿，退市边缘*ST广道仍遭爆炒因为啥？