300344，重大违法强制退市！

Core Viewpoint - *ST Lifan is facing termination of its stock listing due to significant financial misconduct, including falsifying financial reports over three consecutive years [2][4]. Group 1: Financial Misconduct - The Anhui Securities Regulatory Bureau revealed that *ST Lifan inflated its operating income and costs through various fraudulent activities, leading to false disclosures in its annual reports from 2021 to 2023 [2]. - In 2021, the company inflated its operating income by 280 million yuan, accounting for 50.09% of that year's revenue, and inflated operating costs by 277 million yuan, which was 60.61% of the total costs [2]. - In 2022, the inflated operating income was 312 million yuan, representing 51.67% of the revenue, while inflated costs were 305 million yuan, or 53.54% of total costs [2]. - For 2023, the company inflated its operating income by 45.87 million yuan, which was 24.00% of that year's revenue, and inflated costs by 45.23 million yuan, accounting for 27.55% of total costs [2]. Group 2: Regulatory Actions - The Anhui Securities Regulatory Bureau has ordered *ST Lifan to correct its financial statements, issued a warning, and imposed a fine of 10 million yuan [3]. - Due to the severity of the violations, *ST Lifan is subject to mandatory delisting as it has exceeded the threshold of 500 million yuan in inflated revenue over two years, which is more than 50% of the reported annual revenue for those years [4]. - The company will be suspended from trading starting February 24 [4]. Group 3: Audit and Compliance Issues - The accounting firm Zhongxing Caiguanghua has been implicated in the case and is under investigation for failing to perform due diligence [8]. - The company announced plans to change its auditing firm to Younitizhenqing Certified Public Accountants for the 2025 fiscal year, moving away from Zhongxing Caiguanghua [9]. - The 2024 internal control audit by Zhongxing Caiguanghua resulted in a denial opinion, indicating significant issues with the company's financial reporting [10].