Zhong Guo Jing Ji Wang·2025-10-27 07:18Core Viewpoint - The China Securities Regulatory Commission (CSRC) Sichuan Regulatory Bureau has imposed administrative penalties on Chengdu Sicore Microelectronics Co., Ltd. (ST Sicore) for violations related to information disclosure, including fictitious sales and improper revenue recognition [1][12]. Group 1: Violations Identified - ST Sicore fabricated a sales transaction with Sichuan Saidi Information Technology Co., Ltd. amounting to 3.3665 million yuan, resulting in inflated sales revenue and profit by 3.3665 million yuan and 3.1881 million yuan respectively in 2022 [2][13]. - The company recognized revenue prematurely from a transaction with Jiayuan Technology Co., Ltd. without delivering goods or obtaining confirmation, inflating sales revenue and profit by 2.4693 million yuan and 2.037 million yuan respectively [3][14]. - ST Sicore acknowledged revenue despite significant disputes over contracts worth 4.1246 million yuan with Jiayuan Technology, leading to further inflated sales revenue and profit by 4.1246 million yuan and 1.7803 million yuan [4][15]. Group 2: Financial Impact - The total inflated revenue for ST Sicore in its 2022 annual report amounted to 9.9604 million yuan, with inflated profit totaling 7.0054 million yuan, representing 4.16% and 6.56% of the company's total revenue (242.8218 million yuan) and profit (106.7959 million yuan) respectively [4][16]. Group 3: Penalties Imposed - The CSRC decided to issue a warning and impose a fine of 2 million yuan on ST Sicore, while individual executives received varying fines: 1.2 million yuan for Vice President Shu Xiaohui, and 800,000 yuan each for Chairman Zhang Ya, General Manager Ma Weidong, and CFO Tu Quanxin [5][17].