Core Viewpoint - The company Tonghui Information has been found to have committed financial fraud for four consecutive years, inflating revenue by over 60 million yuan, yet it does not constitute fraudulent issuance, allowing it to temporarily avoid delisting [1][3][5]. Group 1: Financial Fraud Details - From 2018 to 2021, Tonghui Information and its subsidiaries inflated revenue and profits through fictitious contracts and premature or delayed revenue recognition [1][2]. - The inflated revenue and profit figures for each year are as follows: - 2018: Revenue inflated by 20.73 million yuan, profit inflated by 10.46 million yuan - 2019: Revenue inflated by 9.62 million yuan, profit inflated by 8.15 million yuan - 2020: Revenue inflated by 14.98 million yuan, profit inflated by 7.37 million yuan - 2021: Revenue inflated by 18.07 million yuan, profit inflated by 5.88 million yuan [2]. Group 2: Regulatory Actions - The Beijing Securities Regulatory Bureau has proposed a total fine of 35.5 million yuan against the company and its executives due to the financial fraud [1][8]. - Specific penalties include: - The company fined 9 million yuan - The actual controller and former chairman fined 11.5 million yuan - The former vice president fined 7 million yuan - The former financial director fined 3 million yuan [8]. Group 3: Company Background and Listing Process - Tonghui Information was established in 2008 and listed on the New Third Board in 2011, later moving to the selected layer before transitioning to the Beijing Stock Exchange [6][7]. - The company aimed to raise 100 million yuan for digital visual research and development and working capital during its public offering [6]. Group 4: Current Financial Status - Since its listing on the Beijing Stock Exchange, the company has faced continuous operational pressure, reporting net losses of 44.52 million yuan in 2022, 128.13 million yuan in 2023, and 71.94 million yuan in 2024 [10]. - In the first half of 2025, the company experienced a significant revenue decline of 78.66% and a net loss of 14.39 million yuan, primarily due to the termination of its film distribution business [10].
奇！同辉信息上市前连续四年财务造假，虚增收入超6000万元，为何不构成欺诈发行？原因揭秘