Changyao Group(SZ:300391) Xin Lang Cai Jing·2025-12-30 07:07Group 1 - The core issue is the continuous financial fraud by *ST Changyao, with the China Securities Regulatory Commission (CSRC) announcing administrative penalties for false financial reporting from 2021 to 2023 [1][4] - The CSRC plans to impose a fine of 10 million yuan on the company and a total of 31 million yuan on 14 responsible individuals, with a total penalty of 41 million yuan [1][4] - The former general manager, Luo Ming, will face a lifetime ban from the securities market [1][4] Group 2 - The company’s stock price has fallen below 1 yuan, triggering a delisting warning [1][4] - Investors are urged to register for compensation, with updated eligibility criteria for claims based on specific purchase and sale dates [1][5] - The company is facing mandatory delisting due to serious violations, with the Shenzhen Stock Exchange initiating delisting procedures [1][5] Group 3 - The financial fraud stemmed from performance pressure following the acquisition of Hubei Changjiang Xing Pharmaceutical Co., Ltd., with commitments made by the original controlling person, Luo Ming, regarding profit targets from 2020 to 2022 [2][5] - Between 2021 and 2023, subsidiaries of Changyao fabricated inventory documents to recognize revenue without actual sales [2][5] Group 4 - The fraudulent financial reports inflated operating income by 215.32 million yuan, 283.74 million yuan, and 233.63 million yuan for the years 2021, 2022, and 2023, respectively [3][6] - The auditing firms for the relevant years will also be investigated and may face penalties, being included as co-defendants in future compensation lawsuits [3][6]