年末业绩压力催生“财报美化”业务，资金中介提供高息资金拆借或成造假“帮凶”

Core Viewpoint - The article highlights the growing underground business of "financial statement beautification" among listed and pre-IPO companies, where short-term fund borrowing is used to artificially enhance financial metrics without real business backing [1][2][19]. Group 1: Business Operations - The core of the "year-end financial statement optimization" business involves financial intermediaries providing short-term fund borrowing services, allowing companies to manipulate key financial indicators like revenue and cash flow through circular fund transfers [1][2][12]. - Service providers openly promote their offerings in various financial communities and platforms, claiming to cover all sectors of the A-share market, with individual transactions reaching up to 10 billion [2][3]. - The operational process is standardized, involving the signing of dual agreements for confidentiality and fund management, with funds typically transferred in a manner that ensures rapid turnover [14][15]. Group 2: Legal and Regulatory Risks - The actions of financial intermediaries and companies involved in this practice are likely to violate securities laws, as they knowingly assist in financial fraud, which could lead to criminal liability [18][19]. - Regulatory bodies maintain a "zero tolerance" policy towards financial fraud, emphasizing strict enforcement and the potential for severe legal consequences for both companies seeking to beautify their financial statements and the intermediaries providing the funds [19]. - The high costs associated with these services, including interest rates that can exceed 70% annually, pose significant financial risks to companies already in distress [17][18].