昔日“光存储第一股”被罚3700万元！紫晶存储欺诈发行案10名高管获刑

Core Viewpoint - Guangdong Zijing Information Storage Technology Co., Ltd. (referred to as "Zijing Storage") has been sentenced for securities fraud, leading to significant penalties for its management and the cessation of its operations [1][5]. Group 1: Legal Proceedings and Penalties - Zijing Storage was found guilty of securities fraud, resulting in a fine of 37 million yuan and prison sentences for its core management, including the actual controllers Zheng Mu and Luo Tiewei [1][5]. - Zheng Mu received a prison sentence of seven years and six months, along with a fine of 500,000 yuan, while Luo Tiewei was sentenced to seven years and fined 400,000 yuan [1][5]. - The company has ceased operations following the court's ruling [1][5]. Group 2: Financial Misconduct - From 2017, Zijing Storage engaged in fraudulent activities to inflate revenue and profits, including signing false contracts and falsifying logistics documents [2][5]. - Specific instances of profit inflation include 34.83% in 2017, 32.25% in 2018, and 42.97% in the first half of 2019, with profit inflation reaching 137.31% during the same period [2][5]. - The company failed to disclose external guarantees totaling 125.0012 million yuan [2][5]. Group 3: Impact on Investors - The China Securities Regulatory Commission (CSRC) issued an administrative penalty to Zijing Storage in April 2023, followed by a decision to delist its stock in May 2023 due to major violations of listing rules [2][6]. - A total of 17,471 investors suffered losses amounting to over 1.097 billion yuan, with 16,986 investors receiving 1.086 billion yuan in compensation, representing 97.22% of affected investors and 98.93% of the total compensation amount [2][6]. Group 4: Company Background and Performance - Zijing Storage was established in April 2010, focusing on the research, manufacturing, and sales of storage devices [3][6]. - The company was listed on the National Equities Exchange and Quotations (NEEQ) in April 2016 and later on the Shanghai Stock Exchange's Sci-Tech Innovation Board in February 2020, raising over 1 billion yuan [3][7]. - Initial performance was strong, with a 264.08% increase on the first day of trading, but revenue declined significantly thereafter, with a reported revenue of 563 million yuan in 2020 and a net profit loss of 229 million yuan in 2021 [3][7].