Zitian Technology(SZ:300280) 经济观察报·2025-07-21 12:03Core Viewpoint - *ST Zitian is on the brink of delisting due to financial fraud, neglecting inquiries from the stock exchange, and high-level executives evading regulatory oversight [1][4]. Group 1: Company Background - *ST Zitian, originally known as Nantong Forging Equipment Co., Ltd., was established in March 2002 and was once a leading manufacturer of hydraulic machines in China [12]. - The company went public on the Shenzhen Stock Exchange in December 2011 and became controlled by Anchang Investment through a merger in early 2016 [13]. Group 2: Financial Issues - From 2013 to 2022, *ST Zitian's cumulative net profit attributable to shareholders was less than 1.1 billion [19]. - In 2023, the company reported a net loss of 1.21 billion, marking a significant downturn in performance [19]. - The 2024 earnings forecast indicates a projected loss of 150 million to 220 million, attributed to reduced client budgets in its internet advertising business and intensified market competition [20]. Group 3: Regulatory Challenges - The company has faced severe regulatory scrutiny, including a notice from the Fujian Securities Regulatory Bureau regarding false financial reporting and a lack of cooperation during investigations [7][21]. - As of July 20, 2023, *ST Zitian announced that its stock would be suspended from trading due to the impending delisting process [21]. - The company has not engaged in any corrective actions or hired a qualified accounting firm to address the regulatory issues [9][10]. Group 4: Legal Consequences - Following the regulatory actions, investors have begun filing civil compensation lawsuits against *ST Zitian [22].