南新制药子公司虚增营收逾2400万元遭处罚

Core Viewpoint - The Ministry of Finance has imposed administrative penalties on Nanxin Pharmaceutical for financial misconduct, including inflating revenue and misreporting promotional expenses, raising concerns about the company's financial integrity and compliance with regulations [1][2]. Financial Misconduct - Nanxin Pharmaceutical's subsidiary, Guangzhou Nanxin Pharmaceutical, inflated its 2023 revenue by over 24.5 million yuan through fraudulent shipping documents and misreported 37 million yuan in academic promotion expenses [1]. - The company was found to have recognized 28.3 million yuan in revenue and 4.4 million yuan in costs through improper practices, including discrepancies in drug batch numbers and shipment dates [1]. Regulatory Actions - The Ministry of Finance fined Nanxin Pharmaceutical 100,000 yuan and its responsible unit head 50,000 yuan for the violations [2]. - The China Securities Regulatory Commission (CSRC) has initiated an investigation into the company for suspected violations of annual report disclosure laws, focusing on the authenticity of financial data [2]. Historical Financial Issues - Nanxin Pharmaceutical has a history of financial discrepancies, having corrected its financial data three times since 2023, affecting reports from 2020 to 2024 [2]. - The earliest identified financial issue occurred in April 2023, involving a sales return of 66.64 million yuan that should have adjusted the 2020 revenue, leading to multiple report revisions [2]. Performance Data - From 2021 to 2024, Nanxin Pharmaceutical reported revenues of 744 million yuan, 699 million yuan, 720 million yuan, and 263 million yuan, with net losses of 162 million yuan, 79 million yuan, 11 million yuan, and 357 million yuan respectively [3]. - In the first half of 2025, the company's revenue plummeted by 71.28% to 61.84 million yuan, with net losses exceeding 40 million yuan [3].