终止上市！停牌前5连板

Core Viewpoint - *ST Suwu (600200) is facing delisting as the Shanghai Stock Exchange has decided to terminate its stock listing due to significant violations, including false disclosures in annual reports from 2020 to 2023 [2][4]. Summary by Sections Company Announcement - On December 1, *ST Suwu announced it received a decision from the Shanghai Stock Exchange regarding the termination of its stock listing [2]. Regulatory Actions - On November 25, *ST Suwu received an administrative penalty from the China Securities Regulatory Commission (CSRC) for false disclosures in its annual reports from 2020 to 2023, which constitutes a major violation leading to mandatory delisting [4]. Financial Misconduct - The CSRC identified several violations by *ST Suwu, including: - Failing to disclose the actual controller of the company, with false reporting of the actual controller from 2018 to 2023 [6]. - Inflating revenue and profits through non-commercial trade activities, resulting in inflated revenues of CNY 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion for the years 2020 to 2023, respectively, and inflated profits totaling CNY 14.58 million, 20.27 million, 19.92 million, and 21.22 million for the same years [6]. - Not disclosing non-operational fund occupation by related parties, with balances of CNY 1.27 billion, 1.39 billion, 1.54 billion, and 1.69 billion at the end of 2020 to 2023 [7]. Penalties Imposed - The CSRC has mandated *ST Suwu to rectify its violations, issued a warning, and imposed a fine of CNY 10 million. The actual controller, Qian Qunshan, received a warning and a total fine of CNY 15 million, along with a 10-year ban from the securities market [8].