HLSY(SZ:000622) Zhong Guo Jing Ying Bao·2025-11-22 07:47Core Viewpoint - Hengli Industrial has been penalized for inflating its operating income by a total of 595 million yuan from 2020 to the first half of 2023, leading to false financial statements. The Hunan Securities Regulatory Bureau plans to impose fines totaling 39.4 million yuan on the company and 19 responsible individuals, highlighting the principle of "delisting does not exempt from liability" in securities regulation [1][2][3]. Summary by Sections Financial Misconduct - From 2020 to the first half of 2023, Hengli Industrial inflated its operating income by 227 million yuan, 181 million yuan, 136 million yuan, and 51 million yuan, representing 74.24%, 52.27%, 55.08%, and 47.77% of the reported operating income for those periods respectively [2] - The company also inflated its operating costs by 220 million yuan, 175 million yuan, 132 million yuan, and 49 million yuan, accounting for 77.53%, 53.9%, 55.45%, and 50.43% of the reported operating costs respectively [2] - The financial fraud was facilitated by third-party cooperation, where Hengli Industrial used its wholly-owned subsidiary to coordinate with suppliers and customers to create fictitious transactions [2][3]. Regulatory Actions - The Hunan Securities Regulatory Bureau intends to impose an 8 million yuan fine on Hengli Industrial and a total of 31.4 million yuan in fines on 19 responsible individuals, including the former chairman [3] - This is not the first penalty for Hengli Industrial post-delisting; previously, on September 19, the company and seven individuals were fined 11.5 million yuan for information disclosure violations [3]. Audit and Legal Issues - Hengli Industrial changed its auditing firm to Shenzhen Xutai Accounting Firm, which reported an adjusted revenue of 196 million yuan, leading to a significant disagreement between the two parties [4][5] - The company filed a lawsuit against the previous auditing firm, claiming damages of 38.27 million yuan due to alleged negligence and failure to provide timely audit evidence [6][7].