HDXY(SZ:002002) Xin Lang Cai Jing·2025-12-09 08:03Group 1 - The core issue revolves around the severe penalties imposed on the brokerage firm responsible for the oversight of Hongda Xingye's convertible bond project, which has been under scrutiny for nearly two years since its delisting [1][2] - The Jiangsu Securities Regulatory Bureau discovered that Hongda Xingye inflated its total profits by 4.078 billion yuan through various fraudulent accounting practices, including altering original financial records and instructing auditors to fabricate audit adjustments [2][4] - The penalties highlight the stringent regulatory environment in the securities market, indicating that past violations will still be pursued even after a company has been delisted [2][4] Group 2 - Hongda Xingye's fraudulent activities spanned several years and involved significant amounts, with inflated profits accounting for 94.11%, 94.42%, and 618.70% of the reported profits from 2020 to 2022 [4][8] - The company misappropriated 1.691 billion yuan from the funds raised in 2019, primarily for use by its controlling shareholders and related parties, without proper disclosure in relevant reports [4][8] - Additionally, Hongda Xingye created a false impression of repaying 848 million yuan of raised funds, which were actually not returned [4][8] Group 3 - The ongoing legal proceedings serve as a warning to the capital market, emphasizing that companies cannot escape accountability for illegal activities through delisting [5][9] - Investors who purchased shares between April 28, 2020, and September 24, 2023, and sold or still hold them after September 25, 2023, may be eligible for compensation, with the statute of limitations for claims expiring in September 2026 [5][9]