Core Viewpoint - China Shipbuilding Industry Corporation Emergency Warning and Rescue Equipment Co., Ltd. (referred to as "China Emergency") has received an administrative penalty notice from the Hubei Regulatory Bureau of the China Securities Regulatory Commission (CSRC) due to accounting errors in its 2022 annual report, leading to a change in its stock status to "ST Emergency" [1][2]. Group 1: Financial Impact - The company overstated its 2022 operating revenue by 31.37 million yuan, accounting for 1.86% of the total operating revenue for the period [2]. - Operating costs were overstated by 18.39 million yuan, representing 1.40% of the total operating costs for the same period [2]. - The total profit was overstated by 7.14 million yuan, which is 36.64% of the disclosed profit for 2022 [2]. Group 2: Management Accountability - The former chairman, general manager, and chief accountant of China Emergency are directly responsible for the information disclosure violations [2]. - The CSRC plans to impose a fine of 4 million yuan on the company, along with individual fines of 700,000 yuan for the former chairman, 600,000 yuan for the former general manager, and 600,000 yuan for the former chief accountant [2]. Group 3: Company Operations and Future Plans - As of the announcement date, all production and operational activities of China Emergency are reported to be normal [3]. - The company has completed the necessary corrections to its financial statements and plans to apply for the removal of the risk warning on its stock after 12 months from the CSRC's final decision [3].
中船应急突被ST股票停牌一天