重大财务造假案，判了！

Core Viewpoint - The case of Guangdong Zijing Information Storage Technology Co., Ltd. highlights severe corporate fraud leading to the conviction of its top executives and the company's forced delisting from the Sci-Tech Innovation Board, marking a significant event in China's capital market [2][5][6]. Group 1: Company Background - Founded in 2010, Zijing Storage was once a representative of domestic optical storage technology, initially focusing on Blu-ray media and expanding into optical storage devices and solutions for key sectors such as government, finance, and healthcare [6]. - The company successfully went public in February 2020, achieving a market value exceeding 10 billion RMB, earning the title of "the first optical storage stock" [6]. Group 2: Fraudulent Activities - From 2017 onwards, the company's executives engaged in fraudulent activities to inflate revenue and profits through fake sales contracts, forged logistics documents, and early revenue recognition [10]. - The scale of the fraud was alarming, with inflated profits exceeding 100% in certain years. For instance, in 2019, the inflated profit accounted for 137.31% of the actual profit, indicating severe financial misrepresentation [10][11]. Group 3: Legal Consequences - The court found Zijing Storage guilty of securities fraud, imposing a fine of 37 million RMB. Key executives received prison sentences, with the highest being seven years and six months for the actual controller Zheng Mu [13][16]. - The case is notable as it is one of the first to apply the revised criminal law, which increased the maximum penalty for securities fraud from five to ten years, reflecting a stringent approach to corporate misconduct in China [16].