A股“游戏一哥”，罚单来了

Core Viewpoint - Sanqi Interactive Entertainment is facing administrative penalties exceeding 30 million yuan due to violations of information disclosure regulations as determined by the China Securities Regulatory Commission (CSRC) [2] Group 1: Violations of Information Disclosure - The company and its executives, including Chairman Li Weiwei and Vice Chairman Zeng Kaitian, are under investigation for four specific violations related to false disclosures in annual reports from 2014 to 2020 [4][5][6] - The violations include false records of shareholder holdings, where shares were held in trust for Li Weiwei and Zeng Kaitian, leading to misrepresentation in financial disclosures [4][6] Group 2: Related Party Transactions - Sanqi Interactive's acquisition of a 20% stake in Jiangsu Aurora Network Technology Co., Ltd. was not disclosed as a related party transaction, despite the involvement of Hu Yuhang, a key executive with a special relationship to the company [9][10] - The company failed to disclose significant related party transactions with Hainan Liyuan Information Technology Co., Ltd., totaling 1.15 billion yuan, 1.08 billion yuan, 7.60 billion yuan, and 1.93 billion yuan from 2018 to 2021 [16] Group 3: Penalties and Financial Impact - The CSRC proposed penalties including a fine of 9 million yuan for Sanqi Interactive, 14 million yuan for Li Weiwei, and additional fines for other executives, totaling over 30 million yuan [18] - Despite the penalties, the company stated that its operations remain normal and the issues will not significantly impact its business [18] Group 4: Stock Performance - As of October 31, the stock price of Sanqi Interactive was 20.77 yuan per share, with a total market capitalization of 45.948 billion yuan [20]