Yuancheng(SH:603388) Zhi Tong Cai Jing·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 annual reports and other periodic financial data, which may lead to significant penalties and potential delisting [1] Summary by Relevant Sections Investigation and Penalties - On July 1, 2025, *ST Yuancheng received a notice from the CSRC regarding the initiation of an investigation due to allegations of false financial disclosures [1] - The company was informed on October 10, 2025, about the administrative penalty notice, which proposed a fine of 37.45 million yuan for the company and a total of 42 million yuan for 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 had inflated its revenue and profits for three consecutive years, violating securities laws and regulations [1] - The annual reports from 2020 to 2022 were found to contain false records, which could trigger mandatory delisting under the Shanghai Stock Exchange's rules [1]