连续两年财务造假，A股一公司被重罚1140万，年内6家公司集体被查

Core Viewpoint - The article highlights the ongoing stringent regulatory environment in China's stock market, with multiple companies facing penalties for financial misconduct, particularly focusing on ST Huilun's significant fines for financial fraud and related issues [1][4][10]. Group 1: Regulatory Actions and Penalties - On January 12, 2026, ST Huilun was fined 11.4 million for concealing related party fund occupation and committing financial fraud over two consecutive years [1][4]. - In the first nine working days of 2026, at least six listed companies received regulatory penalties or investigation notices, continuing the "zero tolerance" regulatory approach established in 2025 [1][7]. - In 2025, over 80 companies were investigated for information disclosure violations, with nearly 80 receiving administrative penalties, including 15 that faced mandatory delisting due to severe violations, marking a historical high [1][12]. Group 2: Specific Cases of Financial Misconduct - ST Huilun's penalties stemmed from related party fund occupation amounting to 28.33 million, which was not disclosed in annual reports, and subsequent financial fraud to cover up this issue [3][4]. - The company inflated its revenue by approximately 25.49 million in 2021 and 62.33 million in 2022, leading to false financial statements [3][4]. - Another company, Jushi Chemical, was penalized for financial fraud involving inflated revenue of 157 million and costs of 158 million in its 2023 semi-annual report [8]. Group 3: Trends in Regulatory Environment - The regulatory environment in 2026 is characterized by a continued emphasis on strict oversight, with expectations of a high number of penalties for violations [10][12]. - The types of violations leading to penalties are diverse, including not only financial fraud but also related party fund occupation and disclosure violations by controlling shareholders [10][12]. - The regulatory focus aims to promote timely rectification of issues within companies, enhancing overall market quality and reducing the number of penalized companies in the future [10][12].