受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 2025年12月20日，贵州百灵企业集团制药股份有限公司发布《关于公司及相关当事人收到<行政处罚事 先告知书>的公告》。该公告披露，因贵州百灵披露的相关年报存在虚假记载，贵州证监局决定对贵州 百灵给予行政处罚。 陈宇霞律师提醒，凡在2020年4月30日至2024年11月8日之间买入贵州百灵股票，且在2024年11月9 日之后继续持有或卖出亏损的投资者，均有权向贵州百灵索赔损失。（具体索赔条件以法院认定的为 准）（ST百灵维权入口） 违法事实： 中国证监会贵州监管局经调查认定，贵州百灵存在如下违法事实： 贵州百灵在财务核算时未执行 《企业会计准则—基本准则》 第九条的规定， 未以权责发生制为核算基 础， 按收入成本费用配比原则计提销售费用。贵州百灵2019年少计销售费用35，012.49万元，多计利润 35，012.49万元，占当期报告记载利润总额（绝对值）的95.73%；2020年少计销售费用24 ...

Core Viewpoint - The article highlights the growing underground business of "financial statement beautification" among listed and pre-IPO companies, where short-term fund borrowing is used to artificially enhance financial metrics without real business backing [1][2][19]. Group 1: Business Operations - The core of the "year-end financial statement optimization" business involves financial intermediaries providing short-term fund borrowing services, allowing companies to manipulate key financial indicators like revenue and cash flow through circular fund transfers [1][2][12]. - Service providers openly promote their offerings in various financial communities and platforms, claiming to cover all sectors of the A-share market, with individual transactions reaching up to 10 billion [2][3]. - The operational process is standardized, involving the signing of dual agreements for confidentiality and fund management, with funds typically transferred in a manner that ensures rapid turnover [14][15]. Group 2: Legal and Regulatory Risks - The actions of financial intermediaries and companies involved in this practice are likely to violate securities laws, as they knowingly assist in financial fraud, which could lead to criminal liability [18][19]. - Regulatory bodies maintain a "zero tolerance" policy towards financial fraud, emphasizing strict enforcement and the potential for severe legal consequences for both companies seeking to beautify their financial statements and the intermediaries providing the funds [19]. - The high costs associated with these services, including interest rates that can exceed 70% annually, pose significant financial risks to companies already in distress [17][18].

Core Viewpoint - The article highlights the growing underground business of "financial statement beautification" among listed and pre-IPO companies, where funds are manipulated to enhance financial metrics without real business backing [1][3][18]. Group 1: Business Operations - The core of the "year-end financial statement optimization" business involves short-term fund lending services provided by financial intermediaries, which facilitate the circulation of funds among designated accounts to superficially improve key financial indicators [1][12]. - Financial intermediaries openly promote services for various stock exchanges, claiming to optimize financial statements for companies of all sizes, with individual transactions reaching up to ten billion [3][4]. - The process involves signing dual agreements, including a confidentiality clause, and requires companies to provide various documentation for fund transfers, which are often conducted in major financial cities [14][15]. Group 2: Legal and Regulatory Implications - The actions of financial intermediaries, aware that their funds are used for financial fraud, may constitute complicity in false statements, violating securities laws and potentially leading to criminal liability [2][18]. - The high costs associated with these services, with annualized interest rates exceeding 70%, pose significant financial burdens on companies already in distress [17]. - Regulatory bodies maintain a strict stance against financial fraud, emphasizing that both companies seeking to beautify their financial statements and the intermediaries providing funds will face severe legal consequences [19][18].

Core Viewpoint - Dongxu Optoelectronics Technology Co., Ltd. has been penalized by the China Securities Regulatory Commission (CSRC) for financial fraud, including inflating revenue and profits, and failing to disclose significant guarantees and lawsuits, leading to a change in its stock designation to "ST Dongxu" starting September 30, 2024 [1][4]. Summary by Sections Financial Misconduct - Between 2019 and 2022, Dongxu Optoelectronics engaged in financial misconduct by inflating revenue and profits, and underreporting asset impairment losses, resulting in false records in annual reports [1][4]. - The company also failed to timely disclose major guarantees and significant litigation, constituting multiple violations of information disclosure regulations [1][4]. Regulatory Actions - The CSRC has issued warnings and fines to the company and several responsible individuals, with some facing market entry bans [1][4]. - Starting September 30, 2024, the company's stock will be subject to additional risk warnings, and its stock name will change to "ST Dongxu" [1][4]. Investor Compensation - Investors who suffered losses due to Dongxu Optoelectronics' false statements can file lawsuits for compensation, as per the Securities Law and relevant judicial interpretations [1][4]. - The preliminary conditions for compensation include purchasing Dongxu Optoelectronics stock between February 15, 2016, and July 5, 2024, and selling or holding the stock after July 5, 2024 [2][4]. - Required documentation for claims includes original trading statements, copies of the investor's ID, confirmation of the securities account, and contact information [2][4].

一、部分案件获法院受理 受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 近日，上海沪紫律师事务所刘鹏律师团队代理的案件获法院受理并选定某投资者案件作为示范性案例。 （刘鹏律师专栏） 回溯此案，2025年11月28日，沈阳化工收到一纸来自中国证券监督管理委员会辽宁监管局的《行政处罚 决定书》，为其长达四年的系统性财务造假行为画上了句点。 现符合于2019年3月21日-2023年4月28日（含当日）期间买入，并在2023年4月29日之后卖出或仍持 有而亏损的即可参与维权。对此，辽宁证监局拟决定对沈阳化工给予警告，并处以700万元罚款，相关 责任人纷纷被罚。（沈阳化工维权入口） 这不仅是一场对公司治理和内部控制的拷问，更对资本市场诚信和投资者权益造成了严重损害。目前符 合要求皆可加入。 二、多年财报存在造假 据监管调查，公司的全资子公司沈阳石 ...

Group 1 - The core issue revolves around the financial misconduct of Puli Pharmaceutical, which inflated profits by over 669 million yuan over two years, leading to a court ruling in favor of investors seeking compensation for their losses [1][3] - The Haikou Intermediate People's Court has ruled that Puli Pharmaceutical must compensate investors who suffered losses due to false financial reports, with the possibility of an appeal leading to a second trial [1][3] - The company was found to have fabricated sales of finished and raw pharmaceutical products, resulting in a total of 1.031 billion yuan in inflated revenue and 695 million yuan in inflated profits for the years 2021 and 2022, which constituted 31.08% and 76.72% of the reported annual figures, respectively [1][3] Group 2 - Investors who purchased shares between April 26, 2022, and April 16, 2024, and sold or still hold shares after April 17, 2024, are eligible to register for compensation [1][3] - The China Securities Regulatory Commission (CSRC) has stated that it will assist eligible investors in their claims against the company for losses incurred due to financial fraud [2][4] - The focus for investors now shifts to how the court will determine the compensation ratio and whether Puli Pharmaceutical has the financial capacity to pay [2][4]

关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 一、涉嫌财报虚假记载 12月22日晚，长药控股发布《关于立案调查进展暨风险提示公告》称，公司存在重大违法强制退市风 险、不符合重整条件的风险及财务类强制退市风险。 11月7日，*ST长药（维权）披露公告称因涉财报虚假记载，根据相关法律法规证监会对其立案调查。 这一立案调查意味着*ST长药可能涉嫌财务造假，正式调查结束后，如果违法行为被确认，公司将面临 严重后果。 受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 上海沪紫律师事务所刘鹏律师提示投资者索赔唯有主动通过法律途径维权，才能弥补部分损失。（刘鹏 律师专栏） （2）于2025年11月7日（含当日）之前买入，并在2025年11月8日之后卖出或仍持有而亏。 二、两类投资者可维权 *ST长药目前面临多重退市风险，而证监会的立案调查只是其中之一。目前债务缠身、财务状况恶化以 及公司治理和内部控制方面存在严重缺陷。 值得注意的是此前长药控股因资金占用引发的投资者索赔案件此前已获终审胜诉，且诉讼时效还未 ...

Core Viewpoint - The case of Jiangsu Nuotai Aosaino Biopharmaceutical Co., Ltd. involves systematic financial fraud led by the actual controller and senior executives, resulting in a total fine of 76.2 million yuan due to inflated revenue and profits in their financial reports [1][21]. Group 1: Background of the Case - Nuotai Biopharmaceutical, established in 2009 and listed on the Sci-Tech Innovation Board in May 2021, faced performance pressure shortly after its IPO, leading to a scheme to inflate revenue at year-end [2][22]. - The company raised approximately 550 million yuan during its IPO, focusing on a dual-driven model of "innovative drugs + CDMO" [2][21]. Group 2: Fraud Techniques Revealed - The company reported a 30 million yuan revenue from a technology transfer agreement with Zhejiang Huabei, which was later found to be a facade for financial manipulation [3][23]. - Investigations revealed that Zhejiang Huabei lacked the financial capability, production capacity, and sales channels to engage in a legitimate transaction, indicating the transaction's fraudulent nature [4][5][25]. - A closed-loop funding flow was established where Nuotai Biopharmaceutical injected capital into Zhejiang Huabei, which then returned the funds as a "technology transfer fee," violating accounting standards [6][28]. - The company manipulated the valuation of Zhejiang Huabei to make the transaction appear legitimate, further confirming the fraudulent nature of the deal [8][29]. Group 3: Responsibility Attribution - The China Securities Regulatory Commission (CSRC) identified a collective violation involving seven responsible individuals, all of whom signed off on the financial reports without raising concerns [30]. - Zhao Dezhong, the actual controller, played a leading role in orchestrating the fraud and was fined 13 million yuan [31]. - Other executives, including Zhao Deyi and Jin Fuqiang, faced fines for their roles in approving and executing the fraudulent transactions [32][33]. Group 4: Fraud in Public Offering Documents - In December 2023, Nuotai Biopharmaceutical issued 434 million yuan in convertible bonds, referencing inflated financial data from 2021, which misled investors [14][36]. - The CSRC imposed additional penalties for the fraudulent public offering documents, resulting in a total fine of 4.34 million yuan for the company and individual fines for several executives [15][39]. Group 5: Regulatory Logic - The CSRC firmly rejected the defense of relying on external auditors, emphasizing that the company and its executives are responsible for accurate information disclosure [17][41]. - The case serves as a warning about the importance of truthful financial reporting, especially under the current registration system, where any attempts to manipulate financial statements will be scrutinized [19][42].

Core Viewpoint - The announcement from Kangde Xin indicates the conclusion of a significant financial fraud and securities issuance case, with the Jiangsu Provincial High Court upholding the original verdict and rejecting the appeal [2] Legal Outcomes - Kangde Xin was fined 410 million RMB for securities fraud and foreign exchange fraud [2] - The former chairman and actual controller, Zhong Yu, received a 15-year prison sentence and a fine of 20.2 million RMB for multiple offenses including failure to disclose important information and securities fraud [2] - Other key personnel, including the former director Xu Shu and former CFO Wang Yu, were also convicted and sentenced [2] Company Background - Kangde Xin was primarily engaged in the research and production of polymer composite materials and functional film materials, gaining significant attention after its rapid growth post-IPO in 2010, with a peak market value close to 80 billion RMB [2] - The company's downfall began in January 2019 when it failed to repay a 1.5 billion RMB short-term financing bond, leading to widespread doubts about its financial performance and subsequent investigation by the China Securities Regulatory Commission [2] Fraud Details - The investigation revealed that from 2015 to 2018, Kangde Xin inflated its profits by a total of 11.53 billion RMB through fictitious sales and inflated operating costs [2]

图源：文轩图库 半年时间，两度被戴帽，上市十余年之久的贵州百灵，这一次因虚增6个亿被罚，再度失信于股民。 公开信息显示，贵州百灵企业集团制药股份有限公司（以下简称：贵州百灵）前身为1999年成立的贵州省安顺地区制药厂，是一家以苗药研发、生产、销 售于一体的医药公司。 2010年，成功登陆深交所，被称为"中国苗药第一股"，目前已发展成为国内最大的苗药研制生产企业。 巅峰期的贵州百灵在资本市场的市值一度达到531亿，然而，截至目前市值仅为78.68亿元，跌幅超过85%。 半年内摘帽又戴帽 伤透股民的心 12月19日晚间，实现连涨3天的贵州百灵突然发布公告称，公司及相关当事人已收到贵州证监局送达的《行政处罚事先告知书》。经查，公司在2019年至 2023年期间存在财务造假行为，具体表现为： 2019年少计销售费用3.5亿元，相应多计利润3.5亿元，占当期报告记载利润总额（绝对值）的95.73%；2020年少计销售费用2.4亿元，多计利润2.4亿元， 占比达115.35%；2021年少计销售费用6379.16万元，多计利润6379.16万元，占比45.04%；2023年则多计销售费用4.59亿元，少计利润4.59亿元 ...