虚增收入超17亿元，苏州老牌上市公司被强制退市

Core Viewpoint - Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. has been forced to delist due to significant financial misconduct, including the inflation of revenue by over 1.7 billion yuan over four years [1][6][7]. Group 1: Delisting Announcement - On December 1, Jiangsu Wuzhong announced that the Shanghai Stock Exchange decided to terminate its stock listing, with the delisting period starting on December 9 for 15 trading days [4][6]. - The last trading day is expected to be December 29, with the stock trading on the risk warning board during the delisting period [4][6]. Group 2: Financial Misconduct - Jiangsu Wuzhong has been found to have engaged in serious financial fraud, including concealing changes in actual control and inflating revenue, costs, and profits through non-commercial transactions with related parties [6][7]. - From 2020 to 2023, the company inflated its revenue by 4.95 billion yuan, 4.69 billion yuan, 4.31 billion yuan, and 3.77 billion yuan, representing 26.46%, 26.39%, 21.26%, and 16.82% of reported revenue, respectively [7]. - The inflated profits during the same period were 14.58 million yuan, 20.27 million yuan, 19.92 million yuan, and 21.22 million yuan, accounting for 2.89%, 51.65%, 26.42%, and 29.81% of reported profits, respectively [7]. Group 3: Regulatory Actions - The China Securities Regulatory Commission (CSRC) issued an administrative penalty against Jiangsu Wuzhong, imposing a fine of 30.5 million yuan and banning the actual controller, Qian Qunshan, from the securities market for ten years [8][6]. - The company has been under investigation since February 26 for suspected violations of information disclosure laws [6][8]. Group 4: Business Background and Recent Developments - Jiangsu Wuzhong, established in 1994 and listed in 1999, has diversified into various sectors, including real estate and international trade, but faced significant losses in 2020 [9][11]. - The company shifted its focus to the medical aesthetics sector, launching the high-priced "Tongyan Needle" product, which contributed significantly to its revenue in early 2024 [11][12]. - Despite initial success, the company is embroiled in a legal dispute over distribution rights for the "Tongyan Needle," which has further complicated its financial situation [12][13].