Mei Ri Jing Ji Xin Wen·2025-12-02 06:59Core Viewpoint - Jiangsu Wuzhong's stock will be delisted due to serious violations including financial fraud and failure to disclose the actual controlling shareholder [1][3] Group 1: Regulatory Actions - The China Securities Regulatory Commission (CSRC) has issued an administrative penalty decision against Jiangsu Wuzhong, citing continuous financial fraud over four years from 2020 to 2023 [2][3] - Jiangsu Wuzhong has been found to have inflated its operating income by a total of 1.771 billion yuan and its total profit by 75.9975 million yuan during this period [3] - The company is also accused of providing non-operating funds to related parties, with a balance of 1.693 billion yuan by the end of 2023, accounting for 96.09% of the disclosed net assets [3][4] Group 2: Management Accountability - Key individuals, including Qian Qunshan, who held multiple executive roles, have been penalized for their involvement in the financial misconduct [3][4] - The CSRC has determined that Qian Qunshan is primarily responsible for the financial fraud, including concealing the actual controlling shareholder's identity and orchestrating non-commercial trade activities [3][4] Group 3: Delisting Process - Jiangsu Wuzhong's stock will enter a delisting preparation period starting December 9, with a trading duration of 15 days, and the expected last trading day is December 29 [5] - The stock will be traded on the risk warning board during this period, with the first trading day having no price limit, followed by a daily limit of 10% [5] - Prior to the announcement of the suspension, Jiangsu Wuzhong's stock experienced a five-day consecutive limit-up, with a total increase of 27.84%, despite warnings of potential delisting [5]