CDT(SZ:300344) Guo Ji Jin Rong Bao·2025-12-01 03:08Core Viewpoint - ST Lifan has been found guilty of financial fraud over three consecutive years, leading to significant penalties and potential delisting from the stock market [1][2][5]. Group 1: Financial Fraud Details - From 2021 to 2023, ST Lifan inflated its revenue by a total of 638 million yuan and costs by 628 million yuan through various fraudulent activities [1]. - The specific annual breakdown shows that in 2021, revenue was inflated by 280 million yuan and costs by 277 million yuan; in 2022, revenue was inflated by 312 million yuan and costs by 305 million yuan; and in 2023, revenue was inflated by 46 million yuan and costs by 45 million yuan [2][4]. - The inflated revenue for 2021 and 2022 combined reached 592 million yuan, accounting for 50.91% of the total reported revenue for those years, triggering mandatory delisting regulations [2]. Group 2: Penalties and Consequences - The China Securities Regulatory Commission (CSRC) plans to impose a fine of 10 million yuan on ST Lifan and a total of 30 million yuan on ten responsible individuals, including a 10-year market ban for three key individuals [1][6]. - The Shenzhen Stock Exchange will initiate delisting procedures, with ST Lifan's stock being suspended for one day starting December 1 and then resuming trading under a risk warning as "*ST Lifan" on December 2 [1][6]. - The accounting firm Zhongxing Caiguanghua has faced scrutiny for issuing unqualified audit reports for ST Lifan from 2021 to 2023, and the CSRC has opened an investigation into the firm's conduct [6][7].