Core Viewpoint - The financial fraud case of Nuotai Bio (688076.SH) has been exposed, leading to its being designated as ST (Special Treatment) after resuming trading on July 22. The China Securities Regulatory Commission (CSRC) has issued a notice of administrative penalty, confirming that the company fabricated operating income and profits in 2021 [1][3][5]. Financial Fraud Details - In 2021, Nuotai Bio falsely reported operating income of 30 million yuan and inflated total profits by 25.9516 million yuan, which accounted for 20.64% of the reported profit for that year [4][5]. - The fraudulent activities involved a technical transfer to Zhejiang Huabei Pharmaceutical Co., which lacked the financial capability and operational capacity to utilize the technology, indicating that the transaction had no commercial substance [4][5]. Regulatory Actions - The CSRC plans to impose a fine of 47.4 million yuan on Nuotai Bio and a total of 18 million yuan on its actual controllers, Zhao Dezhong and Zhao Deyi [1][5][6]. - The company received a notice of investigation from the CSRC on October 22, 2024, regarding violations of information disclosure and fraudulent issuance [3][5]. Financial Condition - As of the first quarter of 2025, Nuotai Bio's debt-to-asset ratio reached 47.76%, a significant increase from less than 15% at the end of 2021, indicating financial pressure [2]. - The company reported net profits of 129 million yuan, 163 million yuan, and 404 million yuan for the years 2022 to 2024, with a substantial growth rate of 148.19% in 2024 [9]. Impact on Investors - At least nine fund companies have been affected by the financial fraud, with some, including Huaxia Fund, newly entering as shareholders in the second quarter of 2025 [2][10].
诺泰生物财务造假已有9家基金踩雷 监管重罚4740万赵氏兄弟被罚1800万