Yuancheng(SH:603388) Zheng Quan Shi Bao·2025-10-10 18:04Group 1 - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative punishment against *ST Yuancheng for suspected false reporting of financial data, proposing a fine of 37.45 million yuan for the company and a total of 42 million yuan for five responsible individuals, along with a 10-year market ban for the actual controller [1] - *ST Yuancheng has been found to have inflated revenue and profits for three consecutive years, violating securities laws and regulations, which may lead to its forced delisting from the Shanghai Stock Exchange [1] - This marks the 13th company this year to face significant violations leading to potential delisting due to financial fraud, following similar cases involving *ST Dongtong and *ST Gaohong [1] Group 2 - The CSRC emphasizes a stricter connection between administrative penalties for financial fraud and market exit mechanisms, aiming to remove companies that use financial fraud to evade delisting standards [2] - Financial fraud is considered a "cancer" that undermines market integrity, and the CSRC has intensified efforts to combat such practices, focusing on key areas of concern and ensuring a robust regulatory environment [2] - The CSRC is committed to holding accountable not only the companies but also key individuals involved in financial fraud, including actual controllers and major shareholders, while also targeting intermediary institutions that fail to fulfill their responsibilities [2]