财务造假，顶格处罚！这家公司，或触及重大违法强制退市！

Core Viewpoint - *ST Guangdao is facing severe regulatory penalties due to allegations of financial fraud, which may lead to its forced delisting from the Beijing Stock Exchange [1][3][4]. Group 1: Regulatory Actions - On June 13, *ST Guangdao received a notice from the China Securities Regulatory Commission (CSRC) indicating potential violations that could lead to mandatory delisting under the Beijing Stock Exchange's listing rules [1]. - The company has been placed under a warning for major illegal activities and will be subject to a delisting risk warning upon resuming trading [1][3]. - The CSRC has determined that *ST Guangdao engaged in fraudulent activities, including the fabrication of sales and procurement documents, resulting in inflated revenue and costs [3][4]. Group 2: Penalties Imposed - The company has been ordered to rectify its practices, issued a warning, and fined 10 million yuan [4]. - The chairman and general manager, Jin Wenming, received a warning and a total fine of 15 million yuan, with 5 million yuan as a direct penalty for his role and 10 million yuan as the controlling shareholder [4]. - Other involved parties, including supervisors and independent directors, also faced fines ranging from 150,000 to 5 million yuan [4]. Group 3: Investor Protection Measures - The underwriting institution, Wukuang Securities, has committed to compensating eligible investors for losses incurred due to the company's financial misconduct [5][6]. - The legal basis for this compensation is outlined in Article 93 of the Securities Law, allowing for advance compensation by the issuer's major stakeholders and related securities firms [6]. - The practice of advance compensation has been previously implemented in cases involving other companies, although specific supporting regulations remain limited [7][8].