IPO欺诈发行，10名高管集体获刑，看看都有谁

Core Viewpoint - Guangdong Zijing Information Storage Technology Co., Ltd. has been forced to delist due to major violations, with significant legal consequences for its executives [1][11]. Legal Proceedings - The company was fined 37 million RMB for fraudulently issuing securities [4][13]. - The actual controller Zheng Mu received a combined sentence of 7 years and 6 months, along with a fine of 500,000 RMB for multiple offenses [4][13]. - Other executives, including Luo Tiewei and Li Yanxia, received prison sentences ranging from 2 years to 7 years and fines varying from 350,000 to 500,000 RMB [5][14][15]. Company Background - Zijing Storage was established on April 15, 2010, and primarily engaged in the research, manufacturing, and sales of storage devices [8][16]. - The company was listed on the National Equities Exchange and Quotations (NEEQ) in 2016 and later on the Shanghai Stock Exchange's Sci-Tech Innovation Board in 2020, raising a total of 1.023 billion RMB [9][17]. Financial Misconduct - From 2017 to 2019, the company inflated profits significantly, with 2017's inflated profits accounting for 34.83% of total profits, and 2019's inflated revenue reaching 42.97% of total revenue [9][17]. - The company failed to disclose external guarantees totaling 125 million RMB, leading to severe financial discrepancies [9][17]. Investor Compensation - Following the delisting, a compensation mechanism was established, with four intermediary institutions committing to pay a total of 1.275 billion RMB for investor compensation [10][18]. - By June 30, 2023, 97.22% of affected investors had reached settlements, receiving a total of 1.086 billion RMB in compensation [10][18].