A股欺诈发行，顶格处罚！

Core Viewpoint - The article discusses the administrative penalties imposed by the Hebei Securities Regulatory Bureau on Dongxu Optoelectronics for fraudulent stock issuance, highlighting the total amount raised and the penalties applied to the company and its controlling shareholders [1][3][11]. Group 1: Fraudulent Stock Issuance - Dongxu Optoelectronics raised a total of 7.565 billion yuan through fraudulent stock issuance in 2017 [2][11]. - The penalties imposed on Dongxu Optoelectronics, its actual controller, and its controlling shareholder amount to 378 million yuan each, which is 5% of the total raised amount, representing the maximum penalty under the old securities law [1][4][11]. Group 2: Legal Framework and Penalties - The investigation was conducted based on the provisions of the 2005 and 2019 revised Securities Law of the People's Republic of China, which outlines the penalties for fraudulent issuance [3][10]. - The new Securities Law significantly increases the penalties for fraudulent stock issuance, allowing for fines of 10% to up to 1 times the illegal fundraising amount for already issued securities [12][13][14]. Group 3: Involvement of Key Individuals - The actual controller, Li Mouting, and the controlling shareholder, Dongxu Group, were found to have organized and directed Dongxu Optoelectronics in committing the fraudulent acts, leading to separate legal actions against them [7][8].