Qibu Co.,Ltd.(SH:603557) 21世纪经济报道·2025-07-12 08:24Core Viewpoint - ST Qibu has been collectively sued, indicating serious issues that may lead to criminal penalties for key personnel involved in fraudulent activities [1][4][5] Group 1: Legal Issues - ST Qibu and six key personnel, including former executives, are facing criminal charges for securities fraud and failure to disclose important information [1][5] - The company has previously been penalized by the China Securities Regulatory Commission (CSRC) for information disclosure violations, resulting in a fine of 77 million yuan in December 2023 [1][8] - The allegations include financial fraud, with a total of 360 million yuan in inflated revenue and 129 million yuan in inflated profits over a two-and-a-half-year period [5][6] Group 2: Financial Performance - Since 2020, ST Qibu has reported continuous losses, with annual losses exceeding 100 million yuan [2][18] - The company expects to continue this trend, projecting a net loss of 30 to 45 million yuan for the first half of 2025 [2][18] - Cumulatively, losses since 2020 are estimated to reach 1.777 billion yuan if the upper limit of the 2025 projection is realized [18] Group 3: Corporate History and Background - ST Qibu, originally Zhejiang Qibu Children's Products Co., was listed in 2017 and was once known as the "first children's shoe stock" in A-shares [17] - The company initially performed well post-listing, with net profits of 194 million yuan, 181 million yuan, and 143 million yuan from 2017 to 2019 [18] - A strategic partnership with Xin Xuan Group aimed at transforming into live e-commerce did not yield expected results, leading to ongoing financial struggles [18]