持续五年财务造假处罚落地：美晨科技“戴帽”，多名时任高管被追责

Core Viewpoint - A financial fraud case lasting five years has been uncovered involving Meichen Technology, which inflated its revenue and profits significantly from 2014 to 2018 [1][2]. Group 1: Financial Misconduct - Meichen Technology's annual reports from 2014 to 2018 contained false records, resulting in a cumulative inflated revenue of 1.438 billion yuan and a cumulative inflated profit of 658 million yuan [1][2]. - The peak of the fraudulent activities occurred in 2016, where the inflated revenue reached 726 million yuan, accounting for 24.60% of the reported revenue for that year, and inflated profit was 260 million yuan, making up 49.78% of the reported profit [2]. - In 2015, the highest proportion of profit inflation was recorded, with 75.64% of the profit being inflated, amounting to 189 million yuan, while the inflated revenue was 373 million yuan, representing 20.67% of the reported revenue [2]. Group 2: Regulatory Actions - The China Securities Regulatory Commission issued a notice of administrative penalty, leading to Meichen Technology's stock being marked with a risk warning and changing its name to "ST Meichen" starting September 30 [1][3]. - Key executives involved in the fraud, including Guo Baifeng, were penalized, with Guo facing a fine of 300,000 yuan and a 10-year ban from the securities market [3]. - Other participants in the fraud received warnings and fines ranging from 200,000 to 300,000 yuan, including former executives of Meichen Technology and its subsidiary [3]. Group 3: Company Response and Future Outlook - Meichen Technology stated that the fraudulent activities did not trigger mandatory delisting conditions, allowing the company to avoid the worst-case scenario of being delisted [4]. - The company reported that its production is normal, operations are stable, and it is actively working to correct accounting errors and mitigate the impact of the fraud [4].