Zhong Zheng Wang·2026-01-13 11:35Core Viewpoint - Guizhou Securities Regulatory Bureau has intensified its crackdown on financial fraud, with significant penalties imposed on companies and individuals involved in fraudulent activities, aiming to purify the capital market environment and enhance regulatory effectiveness [1][2][5]. Group 1: Regulatory Actions - In 2025, Guizhou Securities Regulatory Bureau conducted inspections on 111 companies, implementing 31 administrative regulatory measures and 63 daily regulatory measures [1]. - Two financial fraud cases were severely punished, with a total of 1.94 billion yuan in penalties proposed against two listed companies and 20 responsible individuals, including 10-year market bans for four individuals [1][2]. - The bureau has adopted a "zero tolerance" policy towards financial fraud, emphasizing comprehensive punitive measures against violators [1]. Group 2: Specific Cases of Financial Fraud - The Guizhou Bailin financial fraud case involved the company underreporting sales expenses, leading to a cumulative profit inflation of 655 million yuan from 2019 to 2021, with a proposed fine of 25.6 million yuan and a 10-year market ban for the chairman [1][2]. - The *ST Gaohong case involved fraudulent activities that inflated revenue and profits, resulting in a proposed fine of 160 million yuan and market bans for three individuals [2]. Group 3: Strengthening Daily Supervision - The bureau has enhanced daily supervision across various sectors, focusing on issues such as insider trading, financial misreporting, and improper information disclosure [2][3]. - Specific measures included inspections of 10 companies, with 4 administrative and 10 daily regulatory actions taken [2]. Group 4: Oversight of Intermediary Institutions - Increased scrutiny on intermediary institutions, including underwriters and audit firms, to ensure compliance and accountability in financial reporting [3][4]. - The bureau has conducted inspections on 28 securities and futures institutions, implementing 1 administrative and 29 daily regulatory measures to ensure proper operations [4]. Group 5: Future Regulatory Focus - The bureau plans to continue enhancing regulatory effectiveness, focusing on major fraud cases and ensuring investor protection while promoting high-quality market development [5].