连续三年财务造假，3倍牛股将终止上市

Core Viewpoint - *ST Lifan is facing imminent delisting due to significant financial misconduct, with over 500 million yuan in false revenue reported for 2021 and 2022, exceeding 50% of the disclosed annual revenue for those years [1][3]. Group 1: Financial Misconduct and Regulatory Actions - The company received a notice from the Shenzhen Stock Exchange on February 14, indicating the intention to terminate its stock listing due to false disclosures in annual reports from 2021 to 2023 [1]. - The total amount of false revenue reported for 2021 and 2022 is over 500 million yuan, which is more than 50% of the total revenue disclosed for those two years [1]. - Following extreme stock price fluctuations, the regulatory authorities took swift action, leading to three instances of forced or voluntary trading suspensions within a month, marking the highest frequency of suspensions in recent years [6]. Group 2: Stock Price Movements - From January 20, the stock price of *ST Lifan, which had previously fallen below 1 yuan per share, experienced a speculative surge, achieving a cumulative increase of 314.9% over ten trading days, including seven instances of price limits [5]. - The stock faced two consecutive trading halts on February 12 and 13, with both days experiencing a "20CM" limit down [6]. - The unusual trading activity is characterized as a "grotesque game" involving the company's actual controller's violations, malicious speculation by traders, and blind following by retail investors [6].