920680，被强制退市！此前连续6年半财务造假

Core Viewpoint - *ST Guangdao has been forced to delist from the Beijing Stock Exchange due to serious financial fraud, marking it as the first company to be delisted for such reasons on this exchange [1][3]. Group 1: Financial Misconduct - *ST Guangdao has been involved in long-term and systematic financial fraud, with false records found in its annual reports from 2018 to 2023 and the first half of 2024 [3]. - The company inflated its reported revenue and costs significantly, with inflated revenue percentages for the years 2018 to 2023 and the first half of 2024 being 87.34%, 95.39%, 98.96%, 85.87%, 99.39%, 98.14%, and 88.11% respectively [3]. - Similarly, the inflated cost percentages for the same periods were 84.53%, 91.17%, 98.41%, 83.30%, 99.13%, 92.26%, and 83.81% [3]. Group 2: Regulatory Actions - The company received a notice from the China Securities Regulatory Commission (CSRC) in December 2022, leading to an investigation due to suspected violations of information disclosure [6]. - Following the investigation, *ST Guangdao was warned and fined 10 million yuan, and its stock was suspended, resulting in a 14.54% drop in share price [8]. - Key executives, including the chairman and financial officer, faced severe penalties, including lifetime bans from the securities market [9]. Group 3: Investor Compensation - The company's sponsor, Wukuang Securities, announced plans to establish a compensation fund of approximately 220 million yuan to reimburse investors affected by the company's fraudulent activities [9]. - As of the second quarter of this year, *ST Guangdao had 6,634 shareholders [9].