Zitian Technology(SZ:300280) 证券时报·2025-09-14 04:41Core Viewpoint - *ST Zitian (300280) is entering a delisting arrangement period, with significant financial misconduct leading to this decision [2][6][7]. Summary by Sections Delisting Process - On September 15, *ST Zitian will resume trading and enter a delisting arrangement period lasting 15 trading days, with the expected last trading date on October 13, 2025 [2]. - During the delisting arrangement period, the stock's name will change to "Zitian Tui," while the stock code remains the same. The first trading day will not have price limits, but subsequent days will have a 20% price limit [5]. Financial Misconduct - In the 2022 annual report, *ST Zitian inflated revenue by 778 million yuan and profit by 85 million yuan, accounting for 44.59% and 35.99% of total revenue and profit, respectively [9]. - The 2023 semi-annual report showed an early recognition of revenue amounting to 207 million yuan and profit of 79 million yuan, with the inflated profit representing 51.64% of the total profit for that period [9]. - In the 2023 annual report, the company misreported revenue by 1.721 billion yuan, which constituted 78.63% of the total revenue, due to improper accounting methods [9]. Regulatory Actions - The company received a delisting notice from the Shenzhen Stock Exchange on September 5, 2025, due to failure to rectify financial reporting issues as mandated by the regulatory authority [6][7]. - The company and 12 management personnel were fined a total of 38.4 million yuan for various violations, including financial fraud and failure to disclose the 2024 annual report on time [9].