Zitian Technology(SZ:300280) Shang Hai Zheng Quan Bao·2025-07-20 17:31Core Viewpoint - *ST Zitian faces potential delisting due to financial fraud and failure to submit a rectification report within the stipulated time frame [2][3] Group 1: Regulatory Actions - On February 14, *ST Zitian received a decision from the Fujian Securities Regulatory Bureau for false reporting in its financial statements, requiring corrections within 30 days [2] - The company failed to complete the required rectification by the deadline, leading to a trading suspension starting March 17 [2] - As of May 20, the company was under delisting risk warning, with its stock name changed to *ST Zitian due to non-compliance [2][3] Group 2: Financial Misrepresentation - The company reported a total of 24.99 billion yuan in false revenue for the years 2022 and 2023, which constituted 63.53% of the total reported revenue for those years [3] - The ongoing issues have raised concerns about the company's potential for mandatory delisting due to significant legal violations [3] Group 3: Current Status and Implications - As of July 20, *ST Zitian announced it had not hired a qualified accounting firm nor submitted a rectification report, leading to the possibility of stock termination [3] - The stock was suspended from trading on July 21, with the Shenzhen Stock Exchange expected to issue a notice regarding potential delisting within five trading days [3] - Criminal proceedings have been initiated against *ST Zitian for concealing accounting documents, with potential civil lawsuits from investors already filed [3]