Shenqi(SH:600613) Di Yi Cai Jing Zi Xun·2025-09-29 04:11Core Insights - The stock price of Shenqi Pharmaceutical (600613.SH) dropped over 7% in intraday trading due to receiving an administrative regulatory decision from the Shanghai Securities Regulatory Bureau regarding financial fraud [1][3] - The company misappropriated sales expenses amounting to 44.8383 million yuan through a discontinued "basic drug promotion plan" and created fictitious accounts receivable, leading to discrepancies in the 2023 annual report [1][3] Financial Performance - In 2023, Shenqi Pharmaceutical reported operating revenue of 2.341 billion yuan, a year-on-year decrease of 2%, while net profit attributable to shareholders was 57.007 million yuan, an increase of 17.41% [3] - For the first half of 2025, the company achieved operating revenue of 961 million yuan, a year-on-year decline of 13.47%, and net profit of 32.8081 million yuan, down 13.29% [4] Regulatory Actions - The Shanghai Securities Regulatory Bureau mandated corrective actions for Shenqi Pharmaceutical, issuing warning letters to the then Chairman Zhang Taotao, General Manager Feng Bin, and Chief Financial Officer Chen Zhimian [3] - The company acknowledged the issue stemmed from improper accounting treatment of accounts receivable and committed to rectifying the situation and submitting a corrective report within the stipulated timeframe [3] Company Background - Founded in 1983, Shenqi Pharmaceutical specializes in the research, production, and sales of pharmaceuticals, with products covering various therapeutic areas including oncology, respiratory, cardiovascular, and gynecological treatments [3]