Yuancheng(SH:603388) 智通财经网·2025-10-10 10:33Core Viewpoint - *ST Yuancheng (603388.SH) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false disclosures in its financial reports, which may lead to significant penalties and potential delisting from the Shanghai Stock Exchange [1] Summary by Relevant Sections Investigation and Penalties - On July 1, 2025, the company received a notice from the CSRC regarding an investigation into the alleged false disclosure of financial data in its annual reports [1] - The CSRC plans to impose a fine of 37.45 million yuan on the company and a total of 42 million yuan on five responsible individuals [1] - The former actual controller and chairman, Zhu Changren, faces a 10-year ban from the securities market [1] Financial Misconduct - The investigation revealed that *ST Yuancheng inflated its revenue and profits for three consecutive years, violating securities laws and regulations [1] - The annual reports for 2020 to 2022 were found to contain false records, which may trigger mandatory delisting under the Shanghai Stock Exchange's rules [1]