Core Viewpoint - Fujian Securities Regulatory Commission imposed a total fine of 384 million yuan on *ST Zitian for illegal information disclosure and failure to disclose the 2024 annual report within the statutory deadline [1][2] Group 1: Financial Misconduct - *ST Zitian inflated revenue by 2.499 billion yuan over two consecutive years, with three financial reports containing fraudulent activities [1] - In the 2022 annual report, *ST Zitian falsely reported internet advertising fees and SMS services, resulting in an inflated revenue of 778 million yuan and inflated profit of 85 million yuan, accounting for 44.59% and 35.99% of total revenue and profit respectively [1] - The 2023 semi-annual report showed an inflated revenue of 208 million yuan and profit of 79 million yuan due to premature revenue recognition in cloud services, representing 14.56% and 51.64% of total revenue and profit respectively [1] Group 2: Penalties and Legal Actions - The total penalty of 384 million yuan includes 277 million yuan for the company and 12 management personnel, with lifetime bans imposed on the former chairman and the CFO [2] - An additional fine of 3.5 million yuan was levied for failing to disclose the 2024 annual report on time, along with 3.4 million yuan for management personnel [2] - The company received a notice from the Shenzhen Stock Exchange regarding the potential termination of its stock listing due to financial fraud, which may lead to a forced delisting risk [2] Group 3: Criminal Investigation - The public security authorities initiated a criminal case against *ST Zitian for concealing accounting vouchers, which meets the standards for prosecution for "illegal disclosure and non-disclosure of important information" [3] - Investors have already filed civil compensation lawsuits against the company [3]
福建证监局查处 *ST紫天财务造假案件 对相关责任主体及人员罚款超3800万元
Shang Hai Zheng Quan Bao·2025-08-22 22:29