Zhong Guo Jing Ji Wang·2026-01-12 06:40Core Viewpoint - 聚石化学 is facing administrative penalties from the China Securities Regulatory Commission (CSRC) for violations related to information disclosure and fraudulent trading practices [1][2][3] Group 1: Violations and Penalties - 聚石化学 and its subsidiaries engaged in fictitious trading activities to inflate revenue, costs, and profits, resulting in a reported inflated revenue of approximately 156.81 million yuan, inflated costs of about 158.47 million yuan, and a profit reduction of around 1.66 million yuan for the first half of 2023 [2] - The CSRC has proposed penalties including a warning and a fine of 2.4 million yuan for 聚石化学, along with fines for key executives: 1.8 million yuan for 陈钢, 900,000 yuan for 刘鹏辉, 800,000 yuan for 伍洋, and 800,000 yuan for 徐建军 [4] Group 2: Financial Performance - 聚石化学 has reported declining financial performance, with revenues of 3.685 billion yuan in 2023, 4.08 billion yuan in 2024, and 1.977 billion yuan in the first half of 2025, alongside net profits of 29 million yuan, -236 million yuan, and 3 million yuan respectively [8] - The company has experienced continuous losses in its net profit excluding non-recurring gains and losses for two and a half years, indicating ongoing financial struggles [8] Group 3: Stock Market Activity - 聚石化学 was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on January 25, 2021, with an initial public offering price of 36.65 yuan per share, but the stock has since fallen below its initial price [6] - The company has planned to raise up to 400 million yuan through a private placement of A-shares, aimed at supplementing working capital [7]