FUDAN FORWARD(SH:600624) Shang Hai Zheng Quan Bao·2025-09-19 19:40Core Viewpoint - Shanghai Fudan Fuhua Technology Co., Ltd. is facing administrative penalties from the China Securities Regulatory Commission (CSRC) due to violations in financial reporting, leading to a risk warning and a temporary suspension of its stock trading [2][12]. Group 1: Risk Warning Implementation - The company's stock will be subject to a risk warning, changing its A-share name from "Fudan Fuhua" to "ST Fuhua" starting September 23, 2025 [2][4]. - The stock will be suspended for one day on September 22, 2025, and will have a daily price fluctuation limit of 5% after the risk warning is implemented [3][4]. Group 2: Administrative Penalties - The CSRC issued an administrative penalty notice on September 19, 2025, citing false disclosures in the company's annual reports for 2019, 2020, and 2023 [12][13]. - The company reported a profit inflation of 50.65 million yuan in 2019 and 2.59 million yuan in 2020 due to understated costs, affecting the reported profit totals by 60.25% and 7.11% respectively [13]. - In 2023, the company allegedly understated asset impairment losses by 27.82 million yuan, inflating profits by 118.48% [14]. Group 3: Company Response and Measures - The board of directors is taking measures to mitigate negative impacts and plans to apply for the withdrawal of the risk warning once certain conditions are met [5]. - The company has been conducting normal business operations and has made corrections to previous financial statements following the identification of accounting errors [19][21]. - The company has committed to improving compliance and internal controls to prevent future violations and enhance the quality of information disclosure [22].