退市也跑不掉，两公司连收巨额罚单，一实控人被罚950万元

Core Viewpoint - The article emphasizes that delisting does not equate to escaping legal responsibilities, as regulatory actions continue to target companies that have been delisted, reinforcing the principle of "no exemption from penalties" for such firms [1][8]. Summary by Sections Regulatory Actions - Two delisted companies, Huatie Co. and Taihe Group, received significant administrative penalties, highlighting the ongoing regulatory scrutiny even after delisting [1][2]. - Huatie Co. faced cumulative fines of 55.65 million yuan, with its actual controller, Xuan Ruiguo, receiving a fine of 9.5 million yuan and a lifetime market ban [3][5]. - Taihe Group was fined 6 million yuan for failing to disclose major litigation issues, which affected its annual reports from 2020 to 2022 [6]. Violations and Penalties - Huatie Co. was penalized for multiple violations, including failing to disclose related party transactions, which involved 1.134 billion yuan in non-operating fund transfers [5][6]. - The company also inflated inventory and cash figures in its financial reports, leading to further penalties [6]. - The regulatory framework includes a "three-punishment linkage" mechanism, combining administrative, civil, and criminal penalties for serious violations [8][9]. Enforcement Statistics - As of August 22, 2024, the China Securities Regulatory Commission (CSRC) has investigated 64 cases of delisted companies, with 44 cases resulting in penalties totaling 1.2 billion yuan [8][9]. - Among the penalized companies, 28 faced consequences for financial fraud, while others were penalized for fund misappropriation and failure to disclose important matters [9]. Investor Protection - The article highlights the ongoing efforts to protect investor rights, including civil compensation mechanisms and the involvement of the China Securities Investor Services Center in supporting litigation [9]. - Successful cases of civil compensation have emerged, such as the recovery of 572 million yuan in a case involving a delisted company [9].