IPO欺诈！紫晶存储10名高管获刑！

Core Viewpoint - The article discusses the significant legal issues faced by Guangdong Ziqing Information Storage Technology Co., Ltd., which has been forced to delist due to major violations, including fraudulent IPO activities that resulted in substantial investor losses [2][5]. Summary by Sections Legal Proceedings - Guangdong Ziqing has been sentenced for securities fraud, with a fine of 37 million RMB imposed, and its core management, including the actual controllers, facing prison terms of up to seven and a half years [2][5]. Fraudulent Activities - The company is noted as the first to be accused of fraudulent IPO activities since the implementation of the full registration system, leading to losses of approximately 1.097 billion RMB for 17,000 investors [5]. - The fraudulent activities began in 2017, involving the creation of false sales contracts, forged logistics documents, and inflated revenue and profit figures to achieve listing and public stock issuance [5][7]. Financial Misrepresentation - In its IPO prospectus, Ziqing reported false revenue and profit figures while concealing external guarantees, successfully raising 1.023 billion RMB in total funds [7]. - The inflated profit percentages for the years 2017, 2018, and the first half of 2019 were reported as 34.83%, 32.25%, and 137.31%, respectively [7]. - Even after going public, the company continued to manipulate financial data, with the 2020 annual report showing inflated revenue by 63.15% and profits by 174.67% [7]. - Ultimately, the company was delisted on July 7, 2023, due to these major violations, resulting in total investor losses of approximately 1.097 billion RMB [7].