退市仍追责！又一家被重罚，原董事长遭10年禁业！

Core Viewpoint - The article discusses the administrative penalties imposed on Hubei Jiuyou Investment Co., Ltd. (Jiuyou Investment) and its former chairman Li Ming, highlighting the ongoing regulatory pressure in China's capital markets regarding delisted companies and the principle of "delisting does not exempt from liability" [2][3]. Summary by Sections - Jiuyou Investment and Li Ming were fined a total of 23.5 million yuan for failing to disclose related party transactions and for false records in financial reports over three years [3]. - The regulatory environment has intensified, with a record number of companies being forcibly delisted for major violations, and 73 delisted companies facing fines totaling 2 billion yuan as of November [3]. Violations Identified - Jiuyou Investment failed to disclose related party transactions, specifically a significant omission in the 2020 annual report regarding the acquisition of 90% of Bohu Zongxiang Information Technology Co., Ltd. for 63.9732 million yuan, which constituted 142.30% of the disclosed net assets [7]. - The 2020 annual report falsely inflated non-operating income by 63.9732 million yuan, which accounted for 471.03% of the reported total profit [7]. - From 2021 to 2023, the company reported false records in its annual reports, with inflated revenues and profits due to fictitious service and marketing activities by subsidiaries [8][9]. - The 2021 annual report inflated revenue by 43.712 million yuan (16.29% of reported revenue) and profit by 4.53 million yuan (5.07% of reported profit) [8]. - The 2022 annual report inflated revenue by 150 million yuan (49.44% of reported revenue) and profit by 11.993 million yuan (13.49% of reported profit) [8]. - The 2023 annual report inflated revenue by 160 million yuan (40.64% of reported revenue) and profit by 17.837 million yuan (27.61% of reported profit) [9]. Penalties Imposed - The China Securities Regulatory Commission (CSRC) ordered Jiuyou Investment to rectify its violations, issued a warning, and imposed an 8.5 million yuan fine [11]. - Li Ming received a warning and a total fine of 15 million yuan, with 5 million yuan for direct responsibility and 10 million yuan as the actual controller [11]. - Due to the severity of his involvement in the violations, Li Ming was banned from the securities market for 10 years [12].