CDT(SZ:300344) 雪球·2026-02-15 03:26Core Viewpoint - The company *ST Lifan is facing termination of its stock listing due to financial fraud, having reported false financial data for three consecutive years, which has led to significant regulatory actions [2][3][4]. Group 1: Financial Fraud and Regulatory Actions - The company received a notice from the Shenzhen Stock Exchange on February 14, 2026, indicating the intention to terminate its stock listing due to serious violations of financial reporting [2][5]. - The administrative penalty decision from the China Securities Regulatory Commission confirmed that the company inflated its revenue and costs through various fraudulent activities, including agency business and fictitious trades [4][6]. - The total amount of inflated revenue for 2021 and 2022 exceeded 500 million yuan, accounting for over 50% of the reported annual revenue for those years [6]. Group 2: Stock Performance and Market Reaction - The stock of *ST Lifan experienced a dramatic rise, with a peak increase of over 400% from a low of 0.66 yuan to a high of 3.33 yuan within a short period [11][12]. - Following the announcement of the financial fraud and subsequent regulatory scrutiny, the stock faced two consecutive trading halts with a 20% drop on February 12 and 13, 2026 [10][16]. - The company has reported losses for three consecutive years, with an expected net loss of between 180 million yuan and 210 million yuan for 2025 [16].