FUDAN FORWARD(SH:600624) Xin Lang Cai Jing·2025-12-26 11:08Core Viewpoint - The company ST Fuhua has received administrative penalties from the Shanghai Securities Regulatory Bureau for financial misreporting, including understated operating costs and inflated profit figures in its annual reports for 2019-2020 and 2023 [1] Group 1: Financial Misreporting - The company was found to have understated operating costs in its annual reports for 2019-2020, leading to inflated total profit figures [1] - In the 2023 annual report, the company also understated asset impairment losses, further inflating profit figures and resulting in false disclosures [1] Group 2: Regulatory Actions - The Shanghai Securities Regulatory Bureau issued a warning to the company and imposed a fine of 4 million yuan [1] - The chairman, Song Zheng, received a warning and a fine of 500,000 yuan [1] Group 3: Company Status - The penalties do not involve circumstances that would trigger mandatory delisting for major violations, and the company’s production and operations are currently normal [1] - The company has completed rectifications related to the issues identified in the investigation [1]