HLSY(SZ:000622) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-27 08:10Core Viewpoint - The long-term and systematic financial fraud at Hengli Industrial has led to significant regulatory penalties even after the company's delisting, with a total fine of nearly 40 million yuan imposed on the company and 19 related individuals [2][4]. Group 1: Financial Fraud Details - Hengli Industrial's financial fraud primarily involved trade business falsification, particularly in ethylene glycol trading, resulting in inflated revenues [3]. - From 2020 to mid-2023, the company inflated its operating income for three and a half consecutive years, with specific figures: 2020 - approximately 227 million yuan (74.24% of reported income), 2021 - 181 million yuan (52.27%), 2022 - 135 million yuan (55.08%), and the first half of 2023 - 5.119 million yuan (47.77%) [3]. Group 2: Regulatory Actions - The Hunan Securities Regulatory Bureau has imposed penalties on both the company and individual responsible parties, reflecting a "personal accountability" approach in regulation [4]. - The company was fined 8 million yuan and 19 individuals received a total of 31.4 million yuan in fines, with the former chairman receiving a 4.5 million yuan fine and a five-year market ban [4]. Group 3: Delisting and Consequences - Hengli Industrial's stock was subject to delisting warnings due to negative net profits and low operating income, leading to its formal delisting on July 16, 2025 [5][6]. - The company failed to disclose its annual report on time, which was linked to significant disagreements with its auditing firm regarding reported revenues [6]. Group 4: Investor Reactions - Following the revelation of the financial fraud details, investors who suffered losses during the period of false statements are beginning to seek legal recourse [7].