梧桐树下V·2025-08-06 12:05Core Viewpoint - The article highlights a series of criminal investigations and penalties faced by various listed companies in China due to financial misconduct, including embezzlement, false financial reporting, and other violations of securities laws [2][3]. Group 1: ST Pava Case - ST Pava disclosed that its co-actual controller and director, Zhang Bao, is under criminal investigation for embezzlement, with a total of 191.34 million yuan misappropriated, of which only 30 million yuan has been returned as of July 26, 2025 [2]. - This incident marks ST Pava as the eighth listed company since July to have executives or actual controllers involved in criminal activities related to financial misconduct [3]. Group 2: Hongxiang Shares Case - Hongxiang Shares' actual controller, Yang Cheng, is under criminal investigation for financial misconduct, with previous penalties from the China Securities Regulatory Commission for false financial reporting from 2017 to 2022, including inflated revenues and profits [4][5]. - The company reported inflated revenues of 104.89 million yuan in 2017, 255.59 million yuan in 2018, and other significant amounts in subsequent years, leading to severe penalties [5][6]. Group 3: Liyuan Technology Case - Liyuan Technology's actual controller, Shen Wanzhong, received a criminal sentence for violating information disclosure laws, with inflated revenues reported in 2021 amounting to over 103.84 million yuan, constituting 24.71% of the disclosed revenue [6][7]. Group 4: Jintongling Case - Jintongling is facing criminal charges for providing false financial data over six consecutive years, with significant misreporting of losses as profits, leading to severe investor losses [8]. Group 5: ST Qibu Case - ST Qibu is under investigation for financial fraud, with allegations of profit inflation and false disclosures in bond issuance documents, leading to criminal charges against responsible personnel [9][10]. Group 6: ST Dongshi Case - ST Dongshi's actual controller, Xu Xiong, was sentenced for market manipulation, receiving a six-and-a-half-year prison term and a fine of 170 million yuan [11]. Group 7: Ruiskanda Case - Ruiskanda's executives are facing criminal charges for misleading disclosures, with inflated revenues reported in 2019 and 2020 amounting to 35.13 million yuan and 28.13 million yuan, respectively [12]. Group 8: Tuidi Jinguang Case - Tuidi Jinguang's executives were arrested for significant financial misreporting, with inflated profits reported in 2022, 2023, and 2024, amounting to 36.10 million yuan, 68.09 million yuan, and 15.38 million yuan, respectively [13][14].