被罚700万！四年财务造假！老牌上市化工国企复牌 “戴帽”

Core Viewpoint - Shenyang Chemical Co., Ltd. has been placed under special treatment due to financial fraud spanning four years, leading to a change in its stock abbreviation to "ST Shenhua" and a trading limit adjustment to 5% [1] Group 1: Financial Misconduct Details - The financial misconduct at Shenyang Chemical can be traced back to the period from 2018 to 2021, with the company previously attributing errors to inadequate inventory management and lack of training [5] - The China Securities Regulatory Commission (CSRC) initiated an investigation in August 2024, revealing that the company manipulated profits by adjusting production input quantities and inventory data, resulting in a cumulative profit inflation of 438 million yuan from 2018 to 2020 [5] - The profit manipulation showed a "front increase and back decrease" pattern, with inflated profits of 130 million yuan in 2018, 204 million yuan in 2019, and 104 million yuan in 2020, while 2021 saw a profit reduction of 148 million yuan [5] Group 2: Regulatory Actions and Penalties - On September 30, Shenyang Chemical received a warning and a fine of 7 million yuan from the CSRC, with several executives facing significant penalties, including the former chairman fined 3.5 million yuan and banned from the market for 8 years [7] - The company clarified that its violations do not meet the criteria for mandatory delisting, and it can apply to lift the special treatment after 12 months of compliant operations [7] Group 3: Business Performance and Recovery - Despite the financial scandal, Shenyang Chemical reported a revenue of 2.569 billion yuan in the first half of the year, an increase of 8.09% from the previous year, and a net profit of 62.42 million yuan, marking a turnaround from a loss of 285 million yuan in the same period last year [9] - The improvement in performance is attributed to enhanced management practices, successful trial production of a new project, and the exit of a subsidiary from the consolidated financial statements [9] - The company is currently focused on rectifying past financial misconduct while leveraging its recovering performance to strengthen its business operations [9]