Core Viewpoint - Regulatory authorities are intensifying efforts to combat financial fraud and maintain market order, as evidenced by multiple administrative penalties issued to various companies for financial misconduct [1] Group 1: Regulatory Actions - On September 12, several companies including *ST Dongtong, Yili Clean Energy, *ST Xinchao, *ST Lingda, and ST Tiansheng received administrative penalties from regulatory bodies, primarily related to financial fraud, with some facing penalties in the billion yuan range [1] - Since the beginning of the year, over ten companies have faced administrative penalties from the China Securities Regulatory Commission (CSRC) for financial fraud, marking a record high for such cases [1] - The CSRC has imposed strict penalties on multiple significant financial fraud cases, emphasizing a "no exemption" policy for companies that have been delisted [1] Group 2: Specific Company Cases - *ST Dongtong has been found to have inflated revenue and profits for four consecutive years, leading to a proposed fine of 229 million yuan and a 10-year market ban for its actual controller [2] - Yili Clean Energy, which was delisted last year, is facing a proposed fine of 375 million yuan for financial fraud and related violations, reinforcing the message that delisting does not exempt companies from accountability [3] - ST Tiansheng is facing a proposed fine of 4.39 million yuan for inflating profits through off-balance-sheet transactions in 2017 and 2018 [4] - *ST Xinchao has been penalized for failing to disclose its annual report on time, with a proposed fine of 3 million yuan [6] - *ST Lingda has been fined a total of 500,000 yuan for failing to disclose related party transactions and guarantees, with penalties imposed on its executives as well [6]

Core Viewpoint - ST Tian Sheng has been penalized by the China Securities Regulatory Commission (CSRC) for inflating profits and failing to disclose related party transactions, resulting in a total fine of 4.99 million yuan [1][4]. Group 1: Financial Misconduct - ST Tian Sheng inflated its total profit by 92,204,254.47 yuan in 2017 and 28,823,001.51 yuan in 2018, which accounted for 30.21% and 20.61% of the reported profits for those years respectively [2]. - The company used off-balance sheet funds to pay sales expenses, leading to inflated profits of 174,783,429.59 yuan in 2017 and 47,908,869.95 yuan in 2018 [2]. - Additionally, ST Tian Sheng understated its profits by 82,579,175.12 yuan in 2017 and 19,085,868.44 yuan in 2018 through inflated procurement costs [2]. Group 2: Disclosure Failures - In 2017 and 2018, ST Tian Sheng failed to disclose related party transactions amounting to 481,025,946.65 yuan and 48,631,061.00 yuan, which represented 15.08% and 1.49% of the net assets at the end of those periods [3]. - The undisclosed related party transactions included 328,521,817.60 yuan that exceeded 15% of the latest audited net assets, violating disclosure regulations [3]. Group 3: Regulatory Actions - The CSRC has issued a warning and imposed a fine of 60,000 yuan for the failure to disclose related party transactions and for the false records in the annual reports [4]. - The former chairman Liu Qun has been fined 90,000 yuan and banned from the market for life due to his role in directing these illegal activities [4]. - Following these actions, ST Tian Sheng's stock will be subject to additional risk warnings, maintaining its designation as "ST Tian Sheng" with a trading code of 002872 [4].

A股市场又一家涉嫌系统性财务舞弊的企业将告别资本市场。 9月12日晚，*ST广道发布公告，公司因连续7年财务造假被证监会顶格处罚，触发重大违法强制退市机制。公司股票自2025年9月15日起停 牌。 针对这起恶性财务造假案件，证监会依法从严惩处，开出合计4020万元的罚单。其中，对*ST广道（原名"广道数字"）罚款1000万元，对公司 12名责任人合计罚款3020万元。 退市倒计时启动 此次强制退市程序已正式启动。 公司表示将积极配合后续工作，并及时履行信息披露义务。 连续多年财务造假 中国证监会最新披露的行政处罚决定书显示，*ST广道制作虚假购销合同、发票、银行回单、发货通知单及入库单等方式虚构销售和采购业 务，从而虚增营业收入及营业成本。 上述行为导致广道数字披露的2018年至2023年年度报告、2024年半年度报告及《2024年度向特定对象发行股票募集说明书(草案)》存在虚假记 载。 2018年至2024年上半年，*ST广道分别虚增营业收入1.43亿元、1.92亿元、2.23亿元、2.49亿元、3.04亿元、2.83亿元、7164.61万元，占当期报 告记载金额的87.34%、95.39%、98.96%、 ...

其中，*ST东通连续四年虚增收入和利润，违反证券法律法规，证监会拟对其责令改正、给予警告，并 处以高达2.29亿元的罚款。实际控制人黄永军被罚2650万元，并被采取10年证券市场禁入措施。 值得注意的是，上述上市公司被罚可谓证监会持续从严监管的一个缩影，监管机构"零容忍"执法态势持 续强化。贝壳财经记者据Wind数据不完全统计，年内以来约有30家ST公司收到《行政处罚事先告知 书》。 9月12日晚间，*ST东通、ST天圣、*ST新潮三家"披星戴月"的上市公司宣称收到中国证监会及地方监管 局下发的《行政处罚事先告知书》。 一夕之间，三起典型违法违规案件集中曝光。 重庆证监局拟决定，对ST天圣责令改正，给予警告，并处以60万元罚款；对20多个责任人分别处以9 万-30万元的罚款，其中，实际控制人刘群因两项处罚被罚款90万元，并被采取终身证券市场禁入措 施。 证监会持续"长牙带刺"，年内约30家ST公司收罚单 监管持续强化重大案件执法力度。 今年年初，证监会在总结2024年工作时指出，证监会推动形成财务造假综合惩防体系，严肃查处欺诈发 行、财务造假、违规减持、操纵市场等一批大要案，办理各类案件739件，罚没款金额超 ...

9月12日，多起行政处罚案件公布，彰显监管部门严厉打击财务造假、坚决维护市场秩序的决心。当 日，*ST东通、亿利洁能、*ST新潮、*ST聆达、ST天圣等多家公司收到监管部门罚单，多涉及财务造 假，其中不乏亿元级重罚。 今年以来，已经有十余家公司因为财务造假被证监会行政处罚（或行政处罚事先告知）触及（或涉嫌触 及）重大违法强制退市指标，创下历年新高。监管部门对多宗涉嫌财务造假大案依法从严从重处罚。 其中，不乏退市后被罚案例，释放"退市不免责"的强烈信号。据统计，2024年以来，截至8月31日，证 监会累计查处67家退市公司违法行为，其中46家已做出最终行政处罚决定。 监管部门将持续按照《关于严格执行退市制度的意见》《关于进一步做好资本市场财务造假综合惩防工 作的意见》等要求，依法从严打击财务造假等恶性违法行为，配合相关部门综合运用多种方式切实保护 投资者权益。 *ST东通涉嫌触及 重大违法强制退市情形 9月12日，退市公司亿利洁能发布公告称，公司收到内蒙古证监局行政处罚事先告知书。根据告知书， 因公司涉嫌在2016年至2023年期间存在财务造假、关联担保、资金占用等导致的信息披露违法行为及欺 诈发行债券行为，内 ...

原标题："证监会查处东方通严重财务造假：拟对上市公司罚款2.29亿元" *ST东通涉嫌触及重大违法强制退市情形，深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。 延伸阅读： 三大新态势凸显监管加码打击财务造假 财务造假追责7月份5家公司披露涉刑进展 年内5家上市公司涉嫌财务造假被立案调查 中国证监会12日发布消息称，近日，证监会对深交所创业板上市公司北京东方通科技股份有限公司(简 称*ST东通)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东通连续四年虚增收入和利润，违反证券法律法规。证监会拟对上市公司罚款2.29亿元，对7 名责任人合计罚款4400万元，对实际控制人采取10年证券市场禁入。 ...

值得注意的是，该公司2022年定向增发还引用了虚假财务数据，构成欺诈发行，成为压垮公司的最后一 根稻草。证监会明确表示，本案可能涉及的犯罪线索将"应移尽移"至公安机关，"退市不免责"的监管信 号十分清晰。 21世纪经济报道 记者 崔文静 北京报道 2025年又一家上市公司因严重财务造假走向退市。 9月12日晚，*ST东通（北京东方通科技股份有限公司）公告收到证监会《行政处罚事先告知书》（以 下简称《告知书》），因2019年至2022年连续四年虚构业务、虚增收入4.32亿元，虚增利润3.14亿元， 被处以2.29亿元高额罚款。公司实际控制人、时任董事长黄永军被罚2650万元并采取10年市场禁入。 *ST东通是2025年以来第12家触及重大违法退市的上市公司，数量创历史新高。除7家公司已完成退市 外，另有5家已进入退市流程。这一变化并非因造假公司增多，而是源于退市新规对财务造假退市标准 的调整——连续三年及以上造假即坚决出清，且金额和比例门槛进一步下调。 监管机构正以"零容忍"态度严厉打击财务造假，坚决杜绝"一退了之"，进一步强化了退市不是终点，问 责才是关键的监管理念。 4年造假被罚2.29亿，老板市场禁入10 ...

【导读】广道数字收到证监会处罚决定书，公司及一众董监高被罚，股票将退市 中国基金报记者 南深 9 月 12 日晚， *ST 广道（即广道数字）公告，公司于 2025 年 9 月 12 日收到中国证监会 《行政处罚决定书》（〔 2025 〕 9 号）。此前，公司因涉嫌信息披露违法违规，于 2024 年 12 月被证监会立案调查。 根据《决定书》，广道数字在 2018 年到 2024 年上半年系统性财务造假，其间营业收入和 营业成本虚增比例高的年份超过 99% 。为此，公司及公司一众董监高、直接责任人被警告， 并被处以 50 万元到 1500 万元不等的罚款，其中公司实控人金文明、董事会秘书赵璐还被 采取终身证券市场禁入措施。 根据《决定书》认定的情况，广道数字已触及《北京证券交易所股票上市规则》重大违法强 制退市情形。 连续七年财务造假 约九成营业收入伪造 经证监会查明，广道数字通过制作虚假购销合同、发票、银行回单、发货通知单及入库单等 方式虚构销售和采购业务，从而虚增营业收入及营业成本。 2018 年至 2024 年上半年，广道数字分别虚增营业收入 1.43 亿元、 1.92 亿元、 2.23 亿 元、 2. ...

Core Points - The China Securities Regulatory Commission (CSRC) has announced administrative penalties against Beijing Oriental Technology Co., Ltd. (*ST Dongtong) for serious financial fraud involving false reporting of financial data [1] - *ST Dongtong has inflated its revenue and profits for four consecutive years, violating securities laws and regulations [1] - The CSRC plans to impose a fine of 229 million yuan on the company and a total of 44 million yuan on seven responsible individuals, while the actual controller will face a 10-year ban from the securities market [1] - The company is suspected of major violations that could lead to mandatory delisting, prompting the Shenzhen Stock Exchange to initiate delisting procedures [1] - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with legal standards [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has identified *ST Dongtong (300379.SZ) as a serious financial fraud case, leading to a proposed fine of 273 million yuan and the initiation of delisting procedures due to fraudulent activities from 2019 to 2022 [2][8]. Group 1: Financial Fraud Details - *ST Dongtong was found to have inflated revenues and profits through its subsidiary, Beijing Taice Technology Co., Ltd., by fabricating business activities and prematurely recognizing income [5]. - The inflated revenues from 2019 to 2022 were approximately 61.45 million yuan, 84.85 million yuan, 125.50 million yuan, and 160.53 million yuan, representing 12.29%, 13.25%, 14.54%, and 17.68% of the reported revenues for those years, respectively [5]. - The inflated profits during the same period were approximately 52.23 million yuan, 58.77 million yuan, 79.48 million yuan, and 123.69 million yuan, accounting for 34.11%, 22.72%, 30.35%, and 219.43% of the reported profits, respectively [5]. Group 2: Regulatory Actions - The CSRC has proposed a total fine of 273 million yuan, which includes a 229 million yuan penalty for the company and additional fines for the chairman and other responsible parties [7]. - The chairman, Huang Yongjun, faces a 10-year ban from the securities market due to his significant role in the fraudulent activities [7]. - The CSRC has indicated that the case may involve criminal elements, and relevant information will be forwarded to law enforcement agencies [8]. Group 3: Impact on Investors - As of June 2025, *ST Dongtong had approximately 56,000 shareholders, and the stock price had dropped over 50% since the investigation began in April 2025 [9]. - The company's market capitalization was approximately 3.67 billion yuan as of September 12, 2025, with a closing price of 6.58 yuan per share [9]. - Investors affected by the fraud may pursue legal action for compensation, particularly those who held shares from April 29, 2020, to April 14, 2025 [10].