“退市不免责” 去年以来46家退市公司收“罚单”

Core Viewpoint - Yili Clean Energy Co., Ltd. faces significant penalties for financial fraud and other violations, highlighting the regulatory stance that "delisting does not equate to exemption" from accountability [1][2][3] Group 1: Regulatory Actions - The Inner Mongolia Securities Regulatory Bureau plans to impose a total fine of 375 million yuan on Yili Clean Energy and its controlling shareholder, Yili Resource Group, for various violations from 2016 to 2023 [1][2] - The penalties include 210 million yuan for Yili Clean Energy and 30 million yuan for Yili Resource Group, with additional market bans for seven individuals involved [2][3] - Since the beginning of 2024, the China Securities Regulatory Commission has investigated 67 delisted companies, with 46 receiving final administrative penalties totaling 1.246 billion yuan [3] Group 2: Impact on the Market - The consistent enforcement of penalties against delisted companies is seen as a crucial step towards transforming the capital market, promoting better governance among listed companies [4] - The regulatory approach aims to deter companies from engaging in fraudulent activities and to protect investors' rights, thereby enhancing market integrity [4] - The recent actions against Yili Clean Energy and similar cases are expected to foster a healthier market environment, encouraging a cycle of "survival of the fittest" [4]