Yuancheng(SH:603388) 证券时报·2025-10-10 10:53Core Viewpoint - The China Securities Regulatory Commission (CSRC) has initiated administrative penalties against *ST Yuancheng for falsifying financial data over three consecutive years, leading to significant fines and potential delisting procedures [2][3][4]. Summary by Sections Administrative Penalties - CSRC plans to impose a fine of 37.45 million yuan on *ST Yuancheng and a total of 42 million yuan on five responsible individuals [2][5]. - The actual controller, Zhu Changren, faces a 10-year ban from the securities market due to severe violations [5]. Financial Misconduct - From 2020 to 2022, *ST Yuancheng inflated its revenue and profits by 209 million yuan and 50.46 million yuan, respectively, through manipulation of project costs [4]. - In the 2022 annual report, the company overstated its revenue by 14.16 million yuan and profit by 13.45 million yuan, which constituted 4.33% and 24.60% of the reported figures, respectively [4]. Legal Actions and Future Implications - The Shanghai Stock Exchange will initiate delisting procedures for *ST Yuancheng due to serious violations [3]. - CSRC will transfer any criminal evidence to the public security authorities for further investigation [3].