SCREEN(SH:688053) Xin Lang Cai Jing·2025-09-19 11:00Core Viewpoint - Cisco Ray (思科瑞) is facing administrative penalties from the China Securities Regulatory Commission (CSRC) for violations related to information disclosure, including fictitious sales and improper revenue recognition [1][2]. Summary by Relevant Sections Violations and Penalties - Cisco Ray received a notice of administrative penalty from the Sichuan Regulatory Bureau of the CSRC on September 19, 2025, for suspected violations of information disclosure laws, which may result in fines [1]. - The company was investigated by the CSRC on January 18, 2025, for similar violations [1]. - The notice indicates that Cisco Ray's violations include fictitious sales, premature revenue recognition, and improper revenue recognition [1]. Specific Violations - Fictitious Sales: In December 2022, Cisco Ray fabricated a detection business worth 3.3665 million yuan with Sichuan Said Information Technology Co., leading to an inflated sales revenue of 3.3665 million yuan and a profit increase of 3.1881 million yuan for 2022 [1]. - Premature Revenue Recognition: In September 2022, Cisco Ray recognized revenue of 2.4693 million yuan from Jiayuan Technology without delivering goods or confirming the account statement, resulting in an inflated revenue and profit [1]. - Improper Revenue Recognition: Cisco Ray recognized revenue of 4.1246 million yuan from two settlement contracts with Jiayuan Technology despite significant disputes, leading to further inflated sales and profits [1]. Financial Impact - The total inflated operating revenue for Cisco Ray in the 2022 annual report amounted to 9.9604 million yuan, representing 4.16% of the company's total operating revenue of 242.8218 million yuan, and the inflated profit totaled 7.0054 million yuan, accounting for 6.56% of the total profit of 106.7959 million yuan [2]. - In April 2025, Cisco Ray corrected the false records [2]. Company Response - The Sichuan Regulatory Bureau plans to issue a warning and impose fines of 2 million yuan on Cisco Ray, 1.2 million yuan on Shuxiaohui, and 800,000 yuan each on Zhang Ya, Ma Weidong, and Tu Quanxin [2]. - The company has conducted self-examination and rectification of the related issues and has corrected accounting errors and adjusted financial statements [2]. - Cisco Ray has apologized to investors, committed to improving compliance, and enhancing the quality of information disclosure to protect investor interests [2].