CDT(SZ:300344) Zheng Quan Ri Bao·2025-11-28 17:08Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative penalty against Lifan Shuke Co., Ltd. for financial fraud, which includes a total fine of 40 million yuan and the initiation of delisting procedures due to serious violations of securities laws [1][2]. Group 1: Financial Fraud Details - Lifan Shuke has inflated its revenue by 638 million yuan and costs by 628 million yuan from 2021 to 2023 through various fraudulent activities [2]. - The breakdown of inflated figures includes 280 million yuan in revenue and 277 million yuan in costs for 2021, 312 million yuan in revenue and 305 million yuan in costs for 2022, and 46 million yuan in revenue and 45 million yuan in costs for 2023 [2]. Group 2: Regulatory Actions - The CSRC has intensified its crackdown on financial fraud, with 14 companies facing potential delisting due to serious violations, marking a historical high [3]. - The CSRC has also decided to investigate the accounting firm involved in Lifan Shuke's case, marking a significant step in holding intermediary institutions accountable [4]. Group 3: Impact on Intermediary Institutions - Over 40 accounting firms have been penalized for negligence in financial fraud cases, with total fines exceeding 300 million yuan this year [4]. - The regulatory body has increased penalties against intermediary institutions to enhance accountability and deter collusion in fraudulent activities [5].