Core Viewpoint - Huilun Crystal and its actual controller Zhao Jiqing are facing administrative penalties from the Guangdong Securities Regulatory Bureau for violations related to information disclosure, including failure to disclose fund occupation, inflated costs, and revenues, leading to false records in the 2021 and 2022 annual reports [1][5]. Group 1: Regulatory Actions - The Guangdong Securities Regulatory Bureau plans to impose a fine of 3 million yuan on Huilun Crystal and a total of 8.4 million yuan in fines on Zhao Jiqing and four other individuals [1][6]. - Huilun Crystal's stock was suspended for one day starting December 10 and will be relisted on December 11 with a new stock name "ST Huilun" [1][6]. Group 2: Financial Misconduct - Huilun Crystal engaged in fund occupation by transferring funds to related parties under the guise of equipment and material purchases, totaling 28.33 million yuan in 2020, with a year-end balance of 26.63 million yuan [2][3]. - The company inflated its costs by 8.64 million yuan in 2021 and 23.95 million yuan in 2022, which resulted in a corresponding reduction in reported profits for those years [3][4]. - Huilun Crystal falsely reported revenues of 25.49 million yuan in 2021 and 62.33 million yuan in 2022, which represented 3.89% and 15.79% of the disclosed revenues for those periods, respectively [4]. Group 3: Company Background - Huilun Crystal specializes in the research, production, and sales of quartz crystal components and has been in the industry for over 20 years, recognized as a national "little giant" and a provincial manufacturing champion in Guangdong [2]. - The company reported a revenue of 422 million yuan in the first three quarters of this year, a year-on-year decline of 4.67%, with a net profit attributable to shareholders of -76.12 million yuan, compared to a profit of 1.70 million yuan in the same period last year [6].
惠伦晶体将被ST，涉嫌财务造假