Xin Lang Cai Jing·2025-12-22 03:59Core Viewpoint - Three companies, Guizhou Bailing, Funu Dongfang, and Bayi Steel, have received administrative penalty notices from the China Securities Regulatory Commission (CSRC) for various financial misconducts, leading to potential claims from affected investors [1][6]. Summary by Company Guizhou Bailing - Guizhou Bailing failed to comply with the accounting standards, resulting in significant misstatements in financial reports. The company underreported sales expenses and overstated profits for the years 2019, 2020, 2021, and 2023, with the following discrepancies: - 2019: Underreported sales expenses by 350.12 million, overstated profits by 350.12 million, representing 95.73% of reported profit [2][7] - 2020: Underreported sales expenses by 240.81 million, overstated profits by 240.81 million, representing 115.35% of reported profit [2][7] - 2021: Underreported sales expenses by 63.79 million, overstated profits by 63.79 million, representing 45.04% of reported profit [2][7] - 2023: Overreported sales expenses by 459.41 million, understated profits by 459.41 million, representing 93.17% of reported profit [2][7] Funu Dongfang - Funu Dongfang's subsidiary engaged in fraudulent transactions that inflated profits. The company reported: - 2020: Inflated profits by 35.80 million, which was 120.18% of the reported profit due to fictitious receivables [3][8] - 2021: Recognized a loss on inflated prepayments, reducing profits by 22.65 million, which was 6.64% of the reported profit [3][8] Bayi Steel - Bayi Steel was involved in non-operational fund transactions with its controlling shareholder, leading to undisclosed financial activities: - 2022: Received 3.68 billion and transferred 3.64 billion to the controlling shareholder [4][9] - 2023: Received 2.81 billion and transferred 2.77 billion [4][9] - 2024: Received 2.51 billion and transferred 2.53 billion [4][9] - The company failed to disclose these transactions in its annual reports for 2022, 2023, and 2024, resulting in significant omissions [4][9]. Investor Claims - Investors who suffered losses due to the misconduct of these companies may be eligible for compensation based on specific purchase and sale dates of their shares: - Guizhou Bailing: Purchases between April 30, 2020, and November 8, 2024 [5][10] - Funu Dongfang: Purchases between April 14, 2021, and December 6, 2024 [5][10] - Bayi Steel: Purchases between April 18, 2023, and November 7, 2025 [5][10]