销毁证据、拒绝现场检查！这家IPO企业影响恶劣，交易所出手了

Core Viewpoint - The Shanghai Stock Exchange has imposed a five-year ban on Xiangnian Food Co., Ltd. from submitting IPO applications due to serious violations, including obstructing inspections and providing false disclosures [2][9]. Group 1: Violations and Disciplinary Actions - Xiangnian Food was found to have obstructed on-site inspections, deleted historical data from their wheat storage business system, and provided incomplete and inaccurate disclosures [3][4]. - The company had significant internal control deficiencies, including abnormal financial transactions with special relationship distributors and missing key original documents for wheat procurement [4][8]. - The Shanghai Stock Exchange has decided to publicly reprimand the company and its responsible individuals, prohibiting them from serving as directors, supervisors, or senior management for five years [9][10]. Group 2: Response and Justifications - The company claimed that it cooperated with inspections and that data deletion was due to cybersecurity concerns, but these justifications were not accepted by the exchange [5][7]. - The company argued that the issues with special relationship distributors were due to delays in information updates, which was also dismissed by the exchange [7][9]. - The exchange found that the financial flows involving special relationship distributors were not justified, contradicting the company's claims of compliance [6][7]. Group 3: Impact on Related Entities - The accounting firm and sponsor involved in the IPO process also faced penalties for failing to fulfill their professional responsibilities adequately [10]. - Tianjian Accounting Firm received a public reprimand and a 24-month ban on signing IPO application documents due to their inadequate performance during the application process [10].