严重财务造假！监管出手 重罚！

Core Viewpoint - Shanghai Longyu Data Co., Ltd. (Longyu) has been severely penalized by regulators for significant financial fraud, including inflated revenue and profits over four consecutive years [2][4]. Group 1: Financial Misconduct - Longyu inflated its reported revenue and profits in annual reports from 2019 to 2022, with the following discrepancies: - 2019: Revenue inflated by 2.242 billion, 16.61% of reported revenue; profit inflated by 5.73 million, 60.48% of reported profit [4]. - 2020: Revenue inflated by 3.986 billion, 44.57% of reported revenue; profit inflated by 11.1369 million, 10.36% of reported profit [4]. - 2021: Revenue inflated by 4.024 billion, 50.46% of reported revenue; profit inflated by 9.5195 million, 7.48% of reported profit [4]. - 2022: Revenue inflated by 4.288 billion, 42.95% of reported revenue; profit inflated by 10.9332 million, 23.92% of reported profit [4]. Group 2: Regulatory Actions - The China Securities Regulatory Commission (CSRC) plans to impose a fine of 11.5 million on Longyu and issue warnings to responsible individuals, including fines of 16.9 million for the actual controller Xu Zengzeng and 4.7 million for the general manager Liu Ce [6][7]. - Xu Zengzeng will face a ten-year ban from the securities market due to the severity of the violations [7]. Group 3: Corporate Structure and Operations - From June 2021 to November 2023, Xu Zengzeng established and controlled 13 companies that are considered related parties to Longyu, which were used to facilitate non-operational fund occupation and related party transactions [5][6]. - Longyu failed to disclose non-operational fund occupation transactions, with balances of 333 million, 875 million, and 882 million from 2022 to 2024, representing 9.19%, 23.64%, and 26.53% of net assets respectively [6]. Group 4: Listing Status - Longyu's stock was terminated and delisted from the Shanghai Stock Exchange following the regulatory actions and the issuance of a notice regarding the termination of its listing [9][10].