记者丨 崔文静 编辑丨姜诗蔷 视频丨许婷婷 又一例上市公司财务造假案迎来监管重拳。 2025年10月10日，证监会正式对*ST元成（元成环境股份有限公司）作出行政处罚事先告知， 揭开这家公司连续三年系统性财务造假的黑幕。 根据调查结果，*ST元成在2020年至2022年期间，累计虚增营业收入高达2.09亿元，虚增利润 总额5046万元。更严重的是，公司在2022年非公开发行股票文件中，直接引用了这些虚假财 务数据，构成欺诈发行。 此案还标志着 *ST元成成为2025年以来第13家触及重大违法强制退市指标的上市公司。 上交 所对其依法启动退市程序。 业内专家指出，近期重大违法退市案例增多，并非因为造假公司数量增加，而是源于退市新规 的重大调整。新规不仅明确了"连续三年及以上造假即坚决出清"的要求，还适度下调了"造假 金额+造假比例"的退市门槛，使得更多企业被纳入退市范围。 随着监管力度的持续加大，行政、民事与刑事"三罚联动"已成为处理财务造假案件的标配，彰 显了监管部门对资本市场违法行为"零容忍"的坚定态度。 3 7 4 5万元罚单！* ST元成财务造假案细节曝光 又一家上市公司财务造假案浮出水面。10月10日 ...

● 本报记者 昝秀丽 证监会10月10日消息，证监会近日对上交所主板上市公司元成环境股份有限公司（简称*ST元成）涉嫌 定期报告等财务数据存在虚假记载作出行政处罚事先告知。经查，*ST元成连续三年虚增收入和利润， 违反证券法律法规。证监会拟对上市公司罚款3745.46万元，对5名责任人员合计罚款4200万元，对实际 控制人采取10年证券市场禁入。 据悉，*ST元成涉嫌触及重大违法强制退市情形，上交所将依法启动退市程序。对于可能涉及的犯罪线 索，证监会将坚持应移尽移的工作原则，严格按照刑法、《最高人民检察院 公安部关于公安机关管辖 的刑事案件立案追诉标准的规定（二）》的规定移送公安机关。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603388 证券简称：*ST元成 公告编号：2025-112 元成环境股份有限公司 关于收到中国证券监督管理委员会 《行政处罚事先告知书》的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 元成环境股份有限公司（以下简称"公司"）于2025年7月1日收到中国证监会《立案告知书》，因公司涉 嫌年报等定期报告财务数据虚假披露，决定对公司及公司控股股东、实际控制人立案调查。公司已于 2025年7月2日披露了《关于收到中国证券监督管理委员会立案告知书暨风险提示的公告》（公告编号： 2025-61）及《关于公司控股股东、实际控制人收到立案告知书暨风险提示的公告》（公告编号：2025- 62）。 元成环境股份有限公司、祝昌人先生、周金海先生、姚丽花女士、余建飞先生、陈平先生： 元成环境股份有限公司（以下简称元成股份或公司）、祝昌人涉嫌欺诈发行、信息披露违法违规一案， 已由我局调查完毕，我局依法拟对你们作出行政处罚、采取证券市场禁入措施。现将我局拟对你们作出 行政处罚、采取证 ...

21世纪经济报道记者崔文静 又一例上市公司财务造假案迎来监管重拳。 2025年10月10日，证监会正式对*ST元成（元成环境股份有限公司）作出行政处罚事先告知，揭开这家公司连续三年系统性财务 造假的黑幕。 根据调查结果，*ST元成在2020年至2022年期间，累计虚增营业收入高达2.09亿元，虚增利润总额5046万元。更严重的是，公司 在2022年非公开发行股票文件中，直接引用了这些虚假财务数据，构成欺诈发行。 为此，*ST元成及其主要责任人员收到了巨额罚单：上市公司主体被处以3745.46万元罚款；5名责任人员合计被罚4200万元，其 中实际控制人、董事长祝昌个人独揽2800万元罚款，并被采取10年证券市场禁入措施。 证监会同时明确表示，对可能涉及的犯罪线索将移送公安机关处理。 此案还标志着*ST元成成为2025年以来第13家触及重大违法强制退市指标的上市公司。上交所对其依法启动退市程序。 业内专家指出，近期重大违法退市案例增多，并非因为造假公司数量增加，而是源于退市新规的重大调整。新规不仅明确了"连 续三年及以上造假即坚决出清"的要求，还适度下调了"造假金额+造假比例"的退市门槛，使得更多企业被纳入退市范 ...

Core Viewpoint - *ST Yuancheng (603388.SH) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false disclosures in its annual reports and other periodic financial data, which may lead to significant penalties and potential delisting [1] Summary by Relevant Sections Investigation and Penalties - On July 1, 2025, *ST Yuancheng received a notice from the CSRC regarding the initiation of an investigation due to allegations of false financial disclosures [1] - The company was informed on October 10, 2025, about the administrative penalty notice, which proposed a fine of 37.45 million yuan for the company and a total of 42 million yuan for five responsible individuals [1] - The former actual controller and chairman, Zhu Changren, faces a 10-year ban from the securities market [1] Financial Misconduct - The investigation revealed that *ST Yuancheng had inflated its revenue and profits for three consecutive years, violating securities laws and regulations [1] - The annual reports from 2020 to 2022 were found to contain false records, which could trigger mandatory delisting under the Shanghai Stock Exchange's rules [1]

Core Points - The stock of *ST Yuancheng (603388) closed at 1.72 yuan on October 9, 2025, down 4.44% from the previous trading day, with a total market value of 560 million yuan [1] - The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false disclosures in its annual reports, which could lead to mandatory delisting if deemed a major violation [2] - The company reported a half-year revenue of 82.34 million yuan and a net loss of 126.80 million yuan for 2025, continuing a trend of losses over the past three years [2] Company Investigation - The company received a notice from the CSRC on July 1, 2025, regarding the investigation into financial data misrepresentation [2] - If the CSRC confirms the violations, the company may face mandatory delisting under the stock listing rules [2] - The company has multiple bank accounts frozen, totaling approximately 330.52 million yuan, which is 39.02% of its latest audited net assets [2] Financial Performance - The company has reported continuous losses for three consecutive years, raising concerns about its ability to continue as a going concern [2] - The 2024 annual audit report has already indicated uncertainties regarding the company's ongoing viability [2] - The stock has been under risk warning since the disclosure of the 2024 annual report [2]

Core Viewpoint - Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. is facing significant risks of being delisted due to suspected violations of information disclosure regulations, as confirmed by the China Securities Regulatory Commission (CSRC) [2][4][5] Group 1: Investigation and Regulatory Actions - The company has been under investigation by the CSRC since February 26, 2025, for suspected information disclosure violations [4] - On July 13, 2025, the CSRC issued a notice indicating that the company inflated its revenue, costs, and profits from 2020 to 2023, which could lead to mandatory delisting [5][6] - The company has been placed under a warning for major illegal delisting risks since July 14, 2025, following the CSRC's findings [2][5] Group 2: Financial Performance and Risks - The company reported a net loss of 44.42 million yuan for the first half of 2025, a decline of 281.63% compared to the same period last year [3][7] - There are multiple delisting risks, including unresolved large fund occupation by the controlling shareholder and the freezing of all shares held by the controlling shareholder [3][6] - The company has been warned about financial delisting risks due to an inability to express an opinion on its 2024 financial report [6] Group 3: Future Implications - If the formal penalty decision confirms the violations, the company will apply for a trading suspension and disclose relevant information promptly [2][8] - The Shanghai Stock Exchange will issue a notice regarding the potential termination of the company's stock listing within five trading days after the suspension [2][8]

*ST东通股票交易异常波动公告，因涉嫌定期报告等财务数据存在虚假记载，被中国证券监督管理委员 会立案调查。公司于2025年9月12日收到中国证监会下发的《行政处罚事先告知书》。根据《告知书》 认定的事实，公司2019年至2022年度报告存在虚假记载、公司2022年向特定对象发行股票构成欺诈发 行。公司可能被实施重大违法强制退市。公司将全力配合中国证监会的相关工作，最终结果以中国证监 会出具的正式处罚决定为准。 ...

Core Viewpoint - *ST Dongtong's stock price has experienced significant fluctuations, with a cumulative increase of over 30% in two consecutive trading days, indicating abnormal trading activity [1] Group 1: Stock Performance - The stock price of *ST Dongtong rose sharply on September 23 and 24, 2025, with a cumulative increase exceeding 30% [1] - The stock has been under a risk warning for delisting since September 15, 2025, due to ongoing investigations [1] Group 2: Regulatory Actions - The company received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) on September 12, 2025, for suspected false reporting of financial data [1] - The investigation may lead to significant legal consequences, including mandatory delisting [1] Group 3: Compliance and Commitment - The company is fully cooperating with the CSRC and has committed to adhering to legal regulations and timely information disclosure [1]

2025.09.23 本文字数：1901，阅读时长大约3分钟 而第一财经记者获得的数据显示，仅2025年实质触及重大违法退市指标的公司就已达12家，为历年之 最。据记者不完全统计，截至目前，*ST东通、*ST高鸿、*ST苏吴、*ST紫天、*ST广道、*ST东方、 *ST普利等多家公司，均已拉响重大违法退市风险警报。 作者 |第一财经 周楠 "执法震慑进一步增强，透明度进一步提高，市场生态进一步净化。"在9月22日的国新办新闻发布会 上，证监会主席吴清表示，"十四五"期间，证监会对财务造假、操纵市场、内幕交易等案件作出行政处 罚2214份，罚没414亿元，较"十三五"分别增长58%和30%。 若将视线聚焦，除了近年来不断增长的罚单规模，资本市场的投资生态自去年"924"行情以来，还发生 了一些新的变化。 回看过去一年，一系列政策"组合拳"及配套措施在资本市场渐次落地。其中，从严打击财务造假等违法 违规行为成为净化市场生态、重塑投资者信心的关键着力点之一，触及重大违法强制退市数量明显增 加，"退市不免责"的信号得以强化。 第一财经记者获得的最新数据显示，2025年实质触及重大违法退市指标的公司已达12家，为历年之 ...