套现8亿，浙江富豪踩点离场，“全球第一”的企业也不要了

Core Viewpoint - The article discusses the financial misconduct and subsequent penalties faced by Fangzheng Electric, highlighting the significant losses incurred by shareholders and the controversial actions of former chairman Zhang Min, who profited substantially before the company's decline [1][3][15]. Group 1: Company Background - Fangzheng Electric was established in 1991 and has grown from a small startup to a leading player in the electric motor industry, achieving numerous accolades over the years [4][6]. - The company went public in 2007, which typically provides opportunities for growth through increased funding [6][8]. Group 2: Financial Misconduct - The company faced severe financial issues, including a reported net loss of over 400 million yuan, equivalent to its total profit since its listing [11]. - From 2018 onwards, Fangzheng Electric engaged in financial misreporting, which included inflating the goodwill of its subsidiaries [15][17]. - Regulatory authorities imposed a fine of 4 million yuan on the company and penalties on three executives ranging from 700,000 to 1.3 million yuan [17][20]. Group 3: Shareholder Impact - Following the financial downturn, over 30,000 investors were left with significant losses, while Zhang Min managed to cash out approximately 800 million yuan by selling shares before the company's decline [3][14]. - The stock price peaked at 38.6 yuan but has since plummeted, with recent trading around 9.21 yuan, raising concerns for investors who entered at higher prices [1][23]. Group 4: Future Outlook - Despite past challenges, Fangzheng Electric reported a revenue increase of 9.22% year-on-year in the first quarter of 2025, indicating potential recovery [20][23]. - The completion of two major production bases and the capacity to produce 4.8 million drive systems annually may support future growth and order fulfillment [23].