Jiangsu Sinopep-Allsino Biopharmaceutical (SH:688076) IPO日报·2025-07-21 11:51Core Viewpoint - Jiangsu Nuotai Aosaino Biopharmaceutical Co., Ltd. (Nuotai Biopharma) has been penalized by the China Securities Regulatory Commission (CSRC) for false reporting in its 2021 annual report, resulting in a fine of 47.4 million yuan and penalties for responsible individuals ranging from 1.5 million to 13 million yuan [1][4]. Group 1: Financial Misconduct - In December 2021, Nuotai Biopharma transferred drug technology to Zhejiang Huabei Pharmaceutical Co., Ltd. and recognized revenue of 30 million yuan, which was later found to be inflated as Zhejiang Huabei lacked the financial capability to pay for the technology [3]. - The inflated revenue led to a 25.95 million yuan overstatement in total profit, accounting for 20.64% of the reported profit for that period [3]. - The company's 2021 annual report also contained false records, which affected the accuracy of its public offering documents, particularly in the financial accounting information section [4]. Group 2: Regulatory Actions and Stock Status - Starting July 22, the company's stock will resume trading under the name ST Nuotai, with additional risk warnings implemented, although it will not enter the risk warning board trading [1][6]. - The CSRC has mandated corrections and issued warnings to Nuotai Biopharma, alongside the financial penalties [4]. Group 3: Company Performance and Future Outlook - Excluding the 2021 data, Nuotai Biopharma reported revenues of 651 million yuan, 1.034 billion yuan, and 1.625 billion yuan for 2022, 2023, and projected for 2024, respectively, with net profits of 123 million yuan, 165 million yuan, and 400 million yuan [8]. - For the first half of 2025, the company anticipates a net profit of 300 million to 330 million yuan, representing a year-on-year increase of 32.06% to 45.27% [8]. - Despite the financial misconduct in 2021, the company still reported a revenue increase of 13.58% that year, although net profit decreased by 6.52% [9].