虚增营收1.57亿元！聚石化学收670万元罚单

Core Viewpoint - JuShi Chemical (688669.SH) has been penalized by the China Securities Regulatory Commission (CSRC) for inflating its 2023 semi-annual revenue through false trading practices, resulting in a total fine of 6.7 million yuan [1][2]. Regulatory Penalties - The penalties stem from an investigation initiated in November 2025, with a prior notice of administrative punishment issued in January 2026 [2]. - JuShi Chemical and its subsidiaries engaged in three types of fictitious trading operations, inflating revenue by a total of 157 million yuan, which accounted for 8.32% of total revenue, 8.51% of total costs, and reduced profit by 166,290 yuan [2][3]. Management Accountability - The former chairman and general manager, Chen Gang, was fined 1.8 million yuan for failing to control the fraudulent activities, while other executives received fines totaling 2.5 million yuan for their roles in the misconduct [3]. - The company has also received a regulatory notice for issues related to inaccurate revenue accounting, undisclosed related-party transactions, and inadequate internal controls [3]. Financial Performance - JuShi Chemical has faced declining financial performance, with a projected net loss of 90 million to 120 million yuan for 2025, despite a reduction in losses compared to 2024 [4]. - The company's net profit has decreased significantly over the past three years, with a loss of 236 million yuan in 2024, despite a revenue increase of 10.72% to 4.08 billion yuan [5].