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 alarming rise of "financial statement beautification" services among listed and pre-IPO companies, where funds are manipulated to enhance financial metrics without real business backing, raising significant legal and ethical concerns [1][2][18]. Group 1: Nature of the Business - "Financial statement beautification" involves short-term fund borrowing services provided by intermediaries, allowing companies to artificially inflate revenue and cash flow through circular fund transfers without genuine trade [1][12]. - The service is marketed openly in investment groups and online platforms, targeting a wide range of companies, including small-cap and large-cap firms, with claims of significant fund sizes reaching up to ten billion [2][3]. Group 2: Operational Mechanism - The beautification process typically involves a structured operation where companies design a clear fund flow path, and intermediaries facilitate the transfer of funds across multiple accounts [14][15]. - The funding process includes signing dual agreements for confidentiality and operational terms, with companies required to provide various documentation and pay a deposit to secure the funds [14][15]. Group 3: Financial Implications - The cost of these services is exorbitant, with interest rates reaching as high as 73% annually, significantly burdening companies already facing financial difficulties [16][17]. - The high costs and risks associated with these operations can exacerbate the financial strain on companies, particularly those attempting to avoid delisting [16]. Group 4: Legal Risks - The actions of both the companies seeking beautification and the intermediaries providing funds are likely to violate securities laws, with potential legal repercussions for all parties involved [17][18]. - Regulatory bodies maintain a strict stance against financial fraud, indicating that any attempts to manipulate financial statements will be met with severe penalties [18].