Creator Information(SZ:300730) Jing Ji Guan Cha Wang·2025-12-24 07:50Core Viewpoint - The company, Kexin Information, has been penalized for financial misconduct, including inflating revenue and profits in its 2023 semi-annual report, highlighting ongoing issues of financial fraud in the A-share market [1][2]. Group 1: Financial Misconduct - Kexin Information inflated its operating revenue by 46.32 million yuan, which accounted for 33.57% of the reported revenue, and inflated profits by 12.79 million yuan, representing 71.94% of the total reported profit [2]. - The fraudulent activities stemmed from a sales business with Dayou Digital Technology, where Kexin Information lacked control over the goods but still recognized revenue using the gross method, violating accounting standards [2]. Group 2: Regulatory Actions - The company and three responsible individuals received an administrative penalty notice from the China Securities Regulatory Commission (CSRC), indicating a serious breach of information disclosure regulations [1][4]. - The three individuals involved, including the chairman and financial director, face fines of 800,000 yuan and 600,000 yuan respectively, while the company itself is fined 1.5 million yuan [4]. Group 3: Company Performance - Despite claims of normal business operations, Kexin Information's financial performance is deteriorating, with a reported revenue of 93.65 million yuan for the first nine months of 2025, a decline of 36.58% year-on-year [5][6]. - The company reported a net loss of 58.84 million yuan, although this was a slight improvement compared to the previous year, indicating ongoing financial distress [6]. Group 4: Industry Context - The issues faced by Kexin Information reflect a broader trend of financial fraud in the A-share market, with other companies also being penalized for similar misconduct [1][7]. - Experts have pointed out that the persistence of financial fraud in the market is often facilitated by intermediaries who fail to uphold their responsibilities, suggesting a need for stricter penalties and regulatory reforms [7].