退市之际 江苏吴中子公司骗税案终审落槌：收缴违法所得1600万元并处罚金800万元

Core Viewpoint - Jiangsu Wuzhong (SH600200) is facing a final ruling on a tax fraud case involving its wholly-owned subsidiary, which has implications for its impending delisting due to financial misconduct and related issues [2][3]. Group 1: Legal Proceedings - Jiangsu Wuzhong's subsidiary, Wuzhong Import and Export Co., received a final ruling from the Hunan Province Hengyang Intermediate People's Court, upholding a previous judgment that found it guilty of tax fraud, resulting in a fine of 8 million yuan [2]. - The former legal representative and chairman of Wuzhong Import and Export, Yang Feng, was sentenced to 3 years and 6 months in prison and fined 123,000 yuan for his role in the fraud [2][6]. - The court ordered the confiscation of 16 million yuan in illegal gains from the subsidiary, which will be turned over to the national treasury [2]. Group 2: Company Operations and Financial Impact - Jiangsu Wuzhong announced that the legal ruling will not affect its normal business operations, stating that the company's current operational status remains normal [2]. - The company is in the process of delisting, with its stock entering a delisting preparation period on December 9, 2025, and the last trading day expected to be December 29, 2025 [3]. - The tax fraud case spanned from July 2011 to December 2018, during which the subsidiary allegedly defrauded approximately 242 million yuan in export tax rebates [6]. Group 3: Financial Performance and Irregularities - In 2018, Wuzhong Import and Export reported a profit of 14.67 million yuan, but this figure plummeted to only 180,600 yuan in 2019, a decrease of 98.77%, raising concerns about the legitimacy of its financial reporting [7]. - The fraudulent activities were linked to a network of related transactions that inflated revenues by over 1.7 billion yuan over four years, involving the current controlling shareholders of Jiangsu Wuzhong [8]. Group 4: Investor Implications - Investors who purchased shares between April 20, 2019, and February 26, 2025, and incurred losses after the stock's delisting can claim compensation from Jiangsu Wuzhong [9]. - The company’s stock will be delisted and transferred to the National Equities Exchange and Quotations system after the delisting period, but the ability of investors to recover losses may be complicated by the company's financial condition [9].