退市也跑不掉，两公司连收巨额罚单，一实控人被罚950万元

Core Viewpoint - The recent administrative penalties imposed on two delisted companies, Huatie Co. and Taihe Group, emphasize that delisting does not equate to immunity from legal responsibilities, as regulatory bodies continue to enforce strict accountability measures [2][4]. Summary by Relevant Sections Administrative Penalties - Huatie Co. has faced cumulative penalties amounting to 55.65 million yuan, with its actual controller, Xuan Ruiguo, receiving a fine of 9.5 million yuan and a lifetime market ban [4][5]. - Taihe Group was fined 6 million yuan for failing to disclose significant litigation issues, which involved 13 lawsuits [6][8]. Regulatory Mechanisms - The regulatory framework is characterized by a "three-punishment linkage" mechanism, combining administrative, civil, and criminal penalties to ensure comprehensive accountability for delisted companies [8][9]. - As of August 22, 2024, the China Securities Regulatory Commission (CSRC) has investigated 64 cases of illegal activities by delisted companies, with 44 cases resulting in penalties totaling 1.2 billion yuan [8][9]. Investor Protection - The ongoing enforcement actions reflect a commitment to protecting investor rights, with civil compensation mechanisms being actively pursued, including successful recovery of funds in certain cases [9][10]. - The CSRC has also referred cases to law enforcement when criminal activities are suspected, indicating a robust approach to tackling financial misconduct [9].