Yuancheng(SH:603388) Xin Lang Cai Jing·2026-01-13 08:17Core Viewpoint - The company Yuancheng (formerly "*ST Yuancheng" and "Yuancheng Co., Ltd.") has been penalized by the Zhejiang Securities Regulatory Bureau for significant violations, including false records in annual reports and fraudulent issuance of stock documents, resulting in a total fine of 79.4546 million yuan [1][5]. Group 1: Regulatory Penalties - On January 9, 2026, Yuancheng announced it received an administrative penalty decision from the Zhejiang Securities Regulatory Bureau due to violations in its annual reports [1][5]. - The company inflated labor and machinery costs related to the Yuelongshan International Tourism Resort project, leading to a cumulative inflation of operating costs by 158 million yuan, operating income by 209 million yuan, and total profit by 50.46 million yuan from 2020 to 2022 [2][6]. - The inflated profit for 2020 accounted for 36.60% of the disclosed amount, 19.32% for 2021, and 24.60% for 2022, even during the investigation period [2][6]. Group 2: Consequences of Delisting - Yuancheng was officially delisted on December 5, 2025, due to severe violations, highlighting a trend in the A-share market where delisted companies face strict penalties [3][7]. - The company was fined approximately 37.4546 million yuan, and the actual controller and chairman, Zhu Changren, was fined 28 million yuan and banned from the securities market for 10 years [3][7]. Group 3: Investor Compensation - Investors who purchased shares between April 15, 2021, and January 30, 2024, or between April 29, 2023, and April 27, 2024, and incurred losses can participate in compensation claims [4][8]. - The lawyer Liu Peng from Shanghai Huzhi Law Firm has extensive experience in securities rights protection, with a high success rate in claims for investors [4][8].