Jiangsu Sinopep-Allsino Biopharmaceutical (SH:688076) 梧桐树下V·2025-12-20 12:04Core Viewpoint - Jiangsu Nuotai Aosaikeno Biopharmaceutical Co., Ltd. (ST Nuotai) has been penalized by the China Securities Regulatory Commission (CSRC) for falsifying financial statements, including inflating revenue by 30 million yuan and profit by 25.9516 million yuan, which accounted for 20.64% of the total profit disclosed for the period [1][8][11]. Summary by Sections Administrative Penalty - The CSRC issued an administrative penalty decision against ST Nuotai, ordering it to correct its actions, issuing a warning, and imposing a fine of 47.4 million yuan. Six responsible individuals were fined between 1.5 million and 13 million yuan, totaling 28.8 million yuan [1][20]. Violations Identified - ST Nuotai's 2021 annual report contained false records, specifically regarding a technology transfer to Zhejiang Huabei Pharmaceutical Co., Ltd., which lacked commercial substance and should not have been recognized as revenue. This transaction was linked to a capital increase from ST Nuotai to Zhejiang Huabei [8][11][12]. - The company’s public offering documents also contained significant false information, particularly in the financial accounting section, which misrepresented the 2021 financial data [10][11]. Responsible Individuals - Key individuals involved included Zhao Dezhong (Vice Chairman), Zhao Deyi (Chairman), Jin Fuqiang (General Manager), and others, who failed to ensure the accuracy of the financial reports and were found to have participated in the misleading transactions [9][12][17]. Company Response and Future Actions - ST Nuotai acknowledged the violations and expressed intentions to strengthen internal controls and compliance processes. The company aims to improve the quality of information disclosure and maintain the interests of shareholders [25][26].