IPO欺诈发行 10名高管集体获刑！

Core Viewpoint - Guangdong Zijing Information Storage Technology Co., Ltd. has been forced to delist due to serious violations, with significant legal consequences for its executives and financial penalties imposed on the company [1][9]. Legal Proceedings - The company was fined 37 million RMB for the crime of fraudulent issuance of securities [3]. - The actual controller Zheng Mu received a combined sentence of seven years and six months, along with a fine of 500,000 RMB for multiple offenses [3]. - Other executives, including Luo Tiewei and Li Yanxia, received prison sentences ranging from two years to seven years, with varying fines [4][5]. Financial Misconduct - The company engaged in financial fraud to inflate revenue and profits through false contracts and forged documents, significantly misrepresenting its financial health [7]. - In its prospectus for the initial public offering, the company reported false revenue and profits, concealing external guarantees totaling 125 million RMB [7]. Stock Market Activity - Zijing Storage was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in 2020, raising approximately 1.023 billion RMB, but later faced severe financial downturns [8]. - The company reported a revenue decline of 6.69% in 2021, with a net loss of 229 million RMB, leading to an audit report that could not express an opinion [8]. Investor Compensation - Following the delisting, a compensation mechanism was initiated, with four intermediary institutions committing a total of 1.275 billion RMB for investor compensation [9]. - By June 30, 2023, 97.22% of affected investors had reached settlements, receiving a total of 1.086 billion RMB in compensation [10].