强制退市

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连续7年财务造假!北交所退市第一股要来了
IPO日报· 2025-09-16 10:23
Core Viewpoint - Shenzhen Guangdao Digital Technology Co., Ltd. (*ST Guangdao*) has been found guilty of systematic financial fraud from 2018 to mid-2024, inflating its revenue by over 1.4 billion yuan, with some years showing nearly 100% inflation in reported income [1][5][9]. Summary by Sections Financial Fraud Details - The company inflated its operating revenue by 142,973,927.21 yuan in 2018, 191,558,867.84 yuan in 2019, 223,444,673.66 yuan in 2020, 249,266,088.49 yuan in 2021, 303,965,284.02 yuan in 2022, 282,630,187.61 yuan in 2023, and 71,646,067.21 yuan in the first half of 2024, with respective inflation rates of 87.34%, 95.39%, 98.96%, 85.87%, 99.39%, 98.14%, and 88.11% [5][9]. - Operating costs were also inflated by 64,652,610.42 yuan in 2018, 85,416,420.45 yuan in 2019, 117,359,597.78 yuan in 2020, 133,078,197.50 yuan in 2021, 162,512,396.11 yuan in 2022, 151,900,201.80 yuan in 2023, and 38,629,991.69 yuan in the first half of 2024, with inflation rates of 84.53%, 91.17%, 98.41%, 83.30%, 99.13%, 92.26%, and 83.81% respectively [5][9]. Regulatory Actions - The company has been subjected to an administrative penalty by the China Securities Regulatory Commission (CSRC) due to its violations of information disclosure laws, leading to an investigation initiated in December 2024 [1][9]. - As a result of these violations, *ST Guangdao* will face mandatory delisting from the Beijing Stock Exchange starting September 15, 2025 [2][10]. Company Background - Established in 2003, *ST Guangdao* was listed on the New Third Board in November 2016 and became one of the first companies to be listed on the Beijing Stock Exchange in 2021, focusing on software product development and sales aimed at data applications [7][8].
20cm跌停封单超10亿!*ST东通财务造假坐实!触发强制退市程序!
Guo Ji Jin Rong Bao· 2025-09-16 03:40
Core Viewpoint - *ST Dongtong, once a leading middleware company in China, faces a severe financial crisis due to systematic financial fraud over four years, leading to a significant drop in stock price and impending delisting [1][3][4]. Financial Fraud Details - The company inflated its revenue by a total of 432 million yuan and profits by 314 million yuan from 2019 to 2022, with annual inflated revenues ranging from 61.45 million yuan to 160.53 million yuan, and profits from 52.23 million yuan to 123.69 million yuan [3][4]. - The inflated figures represented 12.29% to 17.68% of reported revenues and 22.72% to 219.43% of reported profits during the respective years [3]. Regulatory Actions - On September 12, the company received a notice from the China Securities Regulatory Commission (CSRC) regarding administrative penalties due to the fraudulent activities [3][4]. - The company is set to face delisting procedures as it has been flagged for major violations, marking it as the 12th company to face such actions since 2025 [4][6]. Financial Performance - The company has reported continuous revenue decline and net losses for three consecutive years, totaling nearly 1.3 billion yuan in losses [5]. - In the first half of 2025, the company reported a revenue of 240 million yuan, a year-on-year increase of 48.85%, but still incurred a net loss of 55.16 million yuan [5]. Governance Issues - The company has faced significant governance challenges, with its 2024 annual report receiving an audit opinion that could not be expressed, indicating serious internal control issues [5][6]. - The CSRC has imposed a fine of 229 million yuan on the company and additional penalties on responsible individuals, including a 10-year ban on the former chairman from engaging in securities activities [6].
20cm跌停封单超10亿!*ST东通财务造假坐实!触发强制退市程序!
IPO日报· 2025-09-15 12:38
星标 ★ IPO日报 精彩文章第一时间推送 10.7亿元卖单压顶,5.26元股价创历史新低,曾经的中国中间件龙头企业因连续四年造假走向资本市场的终点。 9月15日开盘,*ST东通(300379.SZ)股 价被10.7亿元卖单封死20cm跌停,报收5.26元/股,总市值缩水至29.35亿元。 这已是该股连续第二个交易日跌停,前一交易日,公司股价在证监会处罚消 息冲击下,收于6.58元,单日跌幅达20%。 张力制图 四年虚增利润超3亿 这场资本风暴的源头可追溯到四天前。9月12日,*ST东通公告收到证监会《行政处罚事先告知书》,揭开了公司系统性财务造假的惊人内幕。 调查显示,2018年12月,东方通收购北京泰策科技有限公司100%股权后,2019年至2022年期间,通过该子公司虚构业务、提前确认收入等方式,连续四 年虚增业绩。 公司治理方面同样问题重重, 2024年年报被审计机构出具无法表示意见的审计报告,内部控制审计报告也被出具否定意见。 基于此,公司股票自2025年5月6日起已被实施"退市风险警示"及"其他风险警示",股票简称由"东方通"变更为"*ST东通"。 根据告知书内容,证监会对*ST东通一系列的财务造 ...
*ST紫天进入退市整理期:两年虚增收入近25亿,原董事长、财务总监被终身证券市场禁入
Sou Hu Cai Jing· 2025-09-14 11:45
Core Viewpoint - Fujian Zitian Media Technology Co., Ltd. (*ST Zitian) is entering a delisting arrangement period due to financial fraud, with the last trading date expected to be October 13, 2025 [1][4]. Summary by Sections Company Status - *ST Zitian's stock has been suspended since July 21, with a closing price of 2.74 yuan per share and a total market value of 440 million yuan before suspension [2]. - The stock will resume trading on September 15 and enter a delisting arrangement period lasting 15 trading days, during which the stock name will change to "Zitian Tui" but the stock code will remain the same [2]. Financial Misconduct - The company has been found to have inflated revenues by a total of 2.499 billion yuan over two years (2022-2023) through various fraudulent means, including fictitious internet advertising fees and other services [3]. - In the 2022 annual report, *ST Zitian inflated revenue by 778 million yuan and profit by 85 million yuan, which constituted 44.59% and 35.99% of total revenue and profit, respectively [2]. - In the 2023 semi-annual report, the company prematurely recognized revenue of 207 million yuan and profit of 79 million yuan, with the inflated profit accounting for 51.64% of the total profit for that period [3]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) imposed a fine of 38.4 million yuan on *ST Zitian and its management for the fraudulent activities, with lifetime market bans for the former chairman and CFO [3]. - The Shenzhen Stock Exchange (SZSE) decided to terminate the company's stock listing due to failure to rectify financial reports within the required timeframe and ongoing fraudulent activities [4].
每周股票复盘:*ST元成(603388)股价异动因实控人股份流拍
Sou Hu Cai Jing· 2025-09-13 19:53
Summary of Key Points Core Viewpoint - *ST Yuancheng (603388) has experienced significant stock price decline and faces increasing risks of delisting due to financial irregularities and continuous losses [1][2][3] Trading Information Summary - As of September 12, 2025, *ST Yuancheng closed at 1.77 yuan, down 18.06% from the previous week [1] - The stock reached a high of 2.16 yuan on September 8 and a low of 1.76 yuan on September 11 [1] - The company appeared on the trading alert list for the first time in five days due to a cumulative price drop exceeding 12% [1][3] Company Announcement Summary - The controlling shareholder, Zhu Changren, had 975,520 shares (2.98% of his holdings, 0.3% of total shares) subject to a second judicial auction, which failed due to lack of bids [1][2] - The company confirmed normal operations and no undisclosed matters, despite being under investigation by the CSRC for suspected false financial disclosures [2] - The 2025 semi-annual report indicated a revenue of 82.34 million yuan and a net loss of 126.80 million yuan [2] - The company has faced continuous losses over the past three years, raising doubts about its ability to continue operations [2][3] - The company plans to transfer 51% of its stake in Silicon Electronic, but the completion of this transaction is uncertain [2]
终止上市是好事还是坏事
Sou Hu Cai Jing· 2025-09-13 13:24
终止上市是利好还是利空,主要看是主动退市还是强制退市,两者之间有明显差异,具体情况如下: 一.主动上市原因及影响: 1. 典型情况:大股东或企业管理层认为股价被低估,需回购市场流通股。 2. 影响:通常溢价回购,股东会短期获利,公司可减少信息披露成本,灵活调整战略。 二.强制退市原因及影响: 1. 触发原因:公司财务不达标,或存在重大违法行为。 2. 影响:退市前可能持续跌停,且在退市后股票无法公开交易,散户难以退出。 2. 影响:可拓宽融资渠道,但需重新适应市场规则,并可能面临流动性差异带来的短期股价震荡。 四.吸收合并退市原因及影响: 1. 典型表现:公司被大型企业收购。 2. 影响:股东获得一定补偿,资源整合后提升企业长期价值。 五.对上市公司影响: 1. 主动私有化:短期内企业需积极回购股份,长期看,灵活性更高,并可能重新上市。 2. 强制退市:对公司声誉造成影响,并伴随融资困难,破产风险升高一系列麻烦。 三.转板退市原因及影响: 1. 典型情况:公司股票由A股转往港股上市。 1. 强制退市:退市整理期30天可卖出,但流动性极差。转入三板市场,股价可能会归零。 2. 主动退市:私有化回购价通常会高于市 ...
严重财务造假!将强制退市
Huan Qiu Shi Bao· 2025-09-13 02:04
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]
严重财务造假!强制退市!
Sou Hu Cai Jing· 2025-09-13 00:36
9月12日,"证监会发布"信息显示:证监会严肃查处东方通严重财务造假案件。通报称,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(以下简称*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*ST东通罚款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。 证监会指出,*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。 9月12日晚间,*ST东通对此次行政处罚事先告知书的内容予以公告。 根据告知书认定事实,*ST东通2019年至2022年度报告存在虚假记载、2022年向 特定对象发行股票构成欺诈发行。 经查,2018年12月,东方通收购泰策科技100%股权,泰策科技成为东方通全资子公司。2019年至2022年期间,东方通通过泰策科技虚构业务、提前确 认收入等方式虚增收入、利润,导致东方通披露的2019年至2022年年度报告存在虚假记载。 同时,2022年6月至11月,东方通多次披露《向特定对象发行A股股票之募集说明书》申报稿或注册稿。2023年6月,东方通披露《 ...
证监会查处*ST东通严重财务造假案件
Zhong Guo Zheng Quan Bao· 2025-09-12 20:20
*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。*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。对可能涉及的犯罪线索,证监会将坚持应移尽移工作原则,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)》规定移送 公安机关。 中国证监会9月12日消息,证监会近日对深交所创业板上市公司北京东方通科技股份有限公司涉嫌定期 报告等财务数据存在虚假记载作出行政处罚事先告知。 ● 本报记者 昝秀丽 ...
罚款2.29亿元!东方通严重财务造假,将强制退市
Xin Hua Cai Jing· 2025-09-12 12:52
新华财经北京9月12日电(王媛媛) 据证监会官网消息,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。 *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。 2025年4月14日晚间,东方通公告称,公司于2025年4月14日收到中国证监会下发的《立案告知书》,因 公司涉嫌定期报告等财务数据存在虚假记载,根据相关法律法规,中国证监会决定对公司立案。 公开资料显示,东方通成立于1997年,公司主营业务是基础软件中间件业务、网信安全业务、智慧应急 业务以及数字化转型业务。公司主要产品包括基础软件、安全产品、智慧应急和数字化转型四大类型。 公司是国家高新技术企业、国家规划布局内重点软 ...