Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced administrative penalties against *ST Dongtong (Oriental Tong) for falsifying financial data in its periodic reports, leading to a proposed fine of 229 million yuan and potential delisting procedures due to serious violations [2][5][7]. Group 1: Financial Misconduct - *ST Dongtong has inflated its revenue and profits for four consecutive years, violating securities laws [2][3]. - The company used its wholly-owned subsidiary, Beijing Taice Technology Co., Ltd., to fabricate business activities and prematurely recognize revenue, resulting in false disclosures in its annual reports from 2019 to 2022 [3][4]. Group 2: Penalties and Consequences - The CSRC plans to impose a fine of 229 million yuan on *ST Dongtong and a total of 44 million yuan in fines on seven responsible individuals [2][5]. - The actual controller, Huang Yongjun, will face a 10-year ban from the securities market due to his significant role in the violations [7]. Group 3: Specific Violations - The company’s securities issuance documents contained major false information, referencing inflated financial data from its annual reports [4][6]. - The violations are categorized under the Securities Law, constituting illegal information disclosure and fraudulent issuance [4][6].
严重财务造假！这家公司 或被强制退市
Zhong Guo Zheng Quan Bao·2025-09-12 12:33