Shanghai Lonyer(SH:603003) 中国基金报·2025-09-06 01:36Core Viewpoint - Shanghai Longyu Data Co., Ltd. (Longyu) has been severely penalized by regulators for significant financial fraud, including inflated revenue and profits over four consecutive years [2][6][10]. Summary by Sections Financial Misconduct - Longyu inflated its operating revenue and profits in its annual reports from 2019 to 2022, using fictitious trade chains and artificially increasing business links to conduct false trades in metals, oil products, and ethylene glycol [6][7]. - The inflated figures are as follows: - 2019: Revenue inflated by 2.242 billion, 16.61% of reported revenue; profit inflated by 5.73 million, 60.48% of reported profit [7]. - 2020: Revenue inflated by 3.986 billion, 44.57% of reported revenue; profit inflated by 11.1369 million, 10.36% of reported profit [7]. - 2021: Revenue inflated by 4.024 billion, 50.46% of reported revenue; profit inflated by 9.5195 million, 7.48% of reported profit [7]. - 2022: Revenue inflated by 4.288 billion, 42.95% of reported revenue; profit inflated by 10.9332 million, 23.92% of reported profit [7]. Non-Disclosure of Related Transactions - Longyu failed to disclose non-operating fund occupation related to transactions with 13 associated companies controlled by its actual controller, Xu Zengzeng, from June 2021 to November 2023 [8][9]. - The fund occupation amounts were: - 2022: 333 million, 9.19% of net assets [9]. - 2023: 875 million, 23.64% of net assets [9]. - 2024: 882 million, 26.53% of net assets [9]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) proposed a fine of 11.5 million for Longyu and additional fines for responsible individuals, including Xu Zengzeng, who faces a 10-year market ban due to the severity of the violations [9][10]. - Longyu's stock was terminated from listing and will be transferred to the National SME Share Transfer System for management [12][13].