国泰海通、会所被通报批评，2保代3注会被拉黑6个月，律所及3律师被书面警示，发行人被拉黑1年

Core Viewpoint - The Shenzhen Stock Exchange has imposed disciplinary actions against Zhongding Hengsheng Gas Equipment (Wuhu) Co., Ltd. and related parties, including its sponsor, auditor, and legal service provider, due to significant violations during the IPO process, leading to the termination of its IPO review on March 4, 2024 [1][2][3]. Group 1: Disciplinary Actions - Zhongding Hengsheng is prohibited from submitting any IPO application documents for one year from May 23, 2025, to May 22, 2026 [3][20]. - The actual controllers and executives of Zhongding Hengsheng received public reprimands for their roles in the violations [20]. - The sponsor, Guotai Haitong Securities, and its representatives, Jia Chao and Chen Jinke, are barred from signing any IPO application documents for six months from May 23, 2025, to November 22, 2025 [4][16]. Group 2: Violations Identified - Zhongding Hengsheng failed to disclose significant internal control deficiencies affecting the reliability of financial information, including issues with R&D expense controls and revenue recognition [3][10][11]. - The company did not fully disclose special rights clauses in its betting agreements, which were required under regulatory guidelines [14][15]. - The audit firm, Rongcheng CPA, and its signing accountants did not adequately verify the internal control effectiveness and issued inaccurate audit opinions [6][29]. Group 3: Financial Irregularities - The company reported significant discrepancies in its financial data, with asset totals and net assets showing variance rates of 43% and 36% respectively for 2020 [9]. - R&D expenses were reported at 12.21 million yuan for 2022, but the internal controls related to these expenses were found to be inadequate [10]. - Revenue recognition practices were found to be non-compliant, with instances of recognizing revenue before the completion of product delivery [11][12]. Group 4: Legal and Compliance Issues - The legal service provider, Beijing Hairun Tianrui Law Firm, failed to conduct thorough checks on the actual control funds and the sources of new shareholders' investments [5][22]. - The firm and its signing lawyers received written warnings for their inadequate compliance with regulatory requirements during the IPO process [22][24].