Core Viewpoint - *ST Suwu is facing a significant risk of forced delisting due to alleged violations of information disclosure regulations, which has raised concerns about its future operations and financial stability [3][4][6]. Group 1: Company Violations and Penalties - The China Securities Regulatory Commission (CSRC) has identified three main violations by *ST Suwu: failure to accurately disclose the actual controller, inflated revenue through non-commercial trade activities, and concealment of non-operating fund occupation by related parties [4][5]. - From 2020 to 2023, *ST Suwu inflated its total revenue by 1.771 billion yuan, with 377 million yuan of inflated revenue in 2023 alone, accounting for 16.82% of the reported revenue for that year [5]. - The CSRC has imposed penalties on *ST Suwu, including a warning and a fine of 10 million yuan, while its actual controller, Qian Qunshan, faces a 15 million yuan fine and a proposed 10-year ban from the securities market [6]. Group 2: Business Operations and Strategic Shifts - Founded in 1994 and listed in 1999, *ST Suwu has transitioned from various sectors, including pharmaceuticals and real estate, to focus on the health and beauty industry, particularly through its medical aesthetics product, AestheFill [7]. - AestheFill, which is marketed as a premium product in the medical aesthetics sector, has significantly boosted the company's revenue, achieving over 330 million yuan in 2024, a more than 40-fold increase from the previous year, and accounting for 21% of total revenue [7]. - The production company of AestheFill, REGEN, was recently acquired by leading domestic medical aesthetics company Aimeike, raising concerns about the future of *ST Suwu's distribution rights [8][9]. However, *ST Suwu has confirmed that its distribution rights for AestheFill will remain valid until 2032 [9].
虚增近18亿营收或被退市 江苏吴中称不影响童颜针代理权
经济观察报·2025-07-15 11:16