涉嫌财务造假！688496，被证监会立案！

Core Viewpoint - Qingyue Technology (688496) has been placed under investigation by the China Securities Regulatory Commission (CSRC) for suspected false reporting of financial data, which may lead to severe penalties and potential delisting from the Shanghai Stock Exchange if found guilty [2][3]. Financial Performance - For Q3 2025, Qingyue Technology reported a revenue of 147 million yuan, a year-on-year decrease of 41.4%. The net profit attributable to shareholders was a loss of approximately 12.59 million yuan [4][5]. - The decline in revenue is primarily attributed to a reduction in sales of electronic paper modules compared to the same period last year [4]. - Year-to-date revenue until the reporting period was approximately 476 million yuan, reflecting a decrease of 13.64% compared to the previous year [5]. Company Background - Established in 2010, Qingyue Technology specializes in providing comprehensive solutions for IoT terminal displays and has grown into a leading high-tech enterprise in the industry [3]. - The company has multiple R&D centers and large-scale production lines across Jiangsu, Zhejiang, and Jiangxi provinces, focusing on PMOLED, electronic paper, and silicon-based OLED technologies [4]. Regulatory Environment - The CSRC has recently issued guidelines to strengthen the protection of small investors, emphasizing the crackdown on fraudulent activities and financial misreporting [6]. - Companies facing severe violations that could lead to mandatory delisting are encouraged to take proactive measures to compensate investors for losses incurred due to illegal activities [6].