Jiangsu Sinopep-Allsino Biopharmaceutical (SH:688076) 第一财经·2025-12-17 15:48Core Viewpoint - ST诺泰 engaged in financial misconduct by inflating its revenue through a fraudulent technology transfer, leading to significant penalties from regulatory bodies [3][6][8]. Group 1: Company Background - ST诺泰, a pharmaceutical outsourcing company, specializes in the research and production of peptide drugs and small molecule drugs, and was listed on the Sci-Tech Innovation Board in May 2021 [3]. - The company was previously known for its weight-loss drug concept stock in the A-share market [3]. Group 2: Financial Misconduct - In December 2021, ST诺泰 transferred drug technology to Zhejiang Huabei, falsely recognizing 30 million yuan in revenue, which was not supported by the buyer's financial capability or operational capacity [3][5]. - This transaction resulted in an inflated annual report for 2021, with a reported revenue increase of 30 million yuan and a profit increase of 25.95 million yuan, accounting for 20.64% of the total profit disclosed for that period [3][5]. Group 3: Regulatory Actions - The China Securities Regulatory Commission (CSRC) initiated an investigation in October 2024, confirming two major violations: false reporting in the annual report and fabrication of significant content in public offering documents [6]. - ST诺泰 was fined 47.4 million yuan by the CSRC, while its chairman and vice-chairman were fined a total of 18 million yuan [8]. - The Shanghai Stock Exchange imposed additional penalties, including public reprimands and restrictions on the ability of key individuals to serve in management roles or submit financing applications for five years [9].