人民财讯12月3日电，香港证监会已根据《证券及期货（在证券市场上市）规则》指示香港联交所，自 2025年12月3日上午9时正起，暂停大山教育控股有限公司的股份交易，香港证监会发现，在大山截至 2023年6月30日及2023年12月31日止的财务报表中，其银行结余分别被严重夸大人民币3640万元及人民 币7630万元，分别相当于其已公布的财务业绩所载资产净值的19%及55%。 ...

Core Viewpoint - The company *ST Yuancheng is set to be delisted from the Shanghai Stock Exchange on December 5, 2025, due to a continuous market capitalization drop below 500 million yuan for 20 consecutive trading days, triggered by serious financial fraud allegations [1][7]. Group 1: Delisting Decision - *ST Yuancheng received the delisting notice from the Shanghai Stock Exchange on November 28, 2025, after failing to meet market capitalization requirements [1][7]. - The company has been under scrutiny since October 2023 for suspected major violations leading to mandatory delisting [1][7]. - Unlike most delisted companies, *ST Yuancheng will not have a delisting transition period and will directly transfer to the National Equities Exchange and Quotations system [1][7]. Group 2: Financial Fraud Scandal - The company has been found to have engaged in systematic financial fraud over three years, from 2020 to 2022, under the direction of its chairman and actual controller, Zhu Changren [3][9]. - The fraudulent activities included inflating project costs and revenues, resulting in a total inflated operating cost of 158 million yuan, operating income of 209 million yuan, and total profit of 50.46 million yuan [3][9]. - The fraudulent financial data led to a deceptive private placement in 2022, raising 285 million yuan based on false financial statements [3][9]. - The China Securities Regulatory Commission plans to impose a fine of 37.45 million yuan on the company and a total of 42 million yuan on five responsible individuals, including a 10-year market ban for Zhu Changren [3][9]. Group 3: Investor Rights Protection - Investors who suffered losses due to the company's false statements are encouraged to pursue legal action against the company and responsible individuals [4][11]. - Hundreds of investors have already registered for compensation claims, which are being processed in the courts [4][11]. - Eligible investors can claim compensation if they purchased shares between April 15, 2021, and January 30, 2024, or between April 29, 2023, and April 27, 2024, and sold or still hold shares at a loss after specified dates [5][6][11].

Core Viewpoint - The company Lifan Shuke Co., Ltd. is facing administrative penalties and potential delisting due to financial fraud involving inflated revenue and costs totaling 638 million yuan from 2021 to 2023 [1][2][3]. Group 1: Financial Misconduct - Lifan Shuke inflated its revenue and costs through agency business, financing trade, and fictitious trade, resulting in a total inflated revenue of 638 million yuan and costs of 628 million yuan [1][4]. - The breakdown of inflated figures includes 280 million yuan in revenue and 277 million yuan in costs for 2021, 312 million yuan in revenue and 305 million yuan in costs for 2022, and 46 million yuan in revenue and 45 million yuan in costs for 2023 [1][4]. - The company engaged in financing trade that did not meet revenue recognition criteria, leading to further inflated financial statements [3][4]. Group 2: Regulatory Actions - The Anhui Securities Regulatory Bureau plans to impose a fine of 10 million yuan on Lifan Shuke and a total of 30 million yuan on 10 responsible individuals, including the chairman Wang Yi [1][4]. - The company is set to be delisted due to serious violations of securities laws, with trading of its stock suspended from December 1 and risk warnings implemented upon resumption [5][6]. - The case reflects a comprehensive regulatory approach that includes administrative penalties, market bans, criminal referrals, and accountability for intermediary institutions [2][7]. Group 3: Company Background and Performance - Lifan Shuke is a digital technology cloud service provider listed on the Shenzhen Stock Exchange since August 2012, focusing on new digital infrastructure [6]. - The company has reported continuous losses, with net losses of 623 million yuan in 2020, 9 million yuan in 2021, 155 million yuan in 2022, 124 million yuan in 2023, and 125 million yuan projected for 2024, totaling over 1 billion yuan in losses [6]. - Lifan Shuke is the 14th company this year facing potential delisting due to financial fraud, marking a record high for such cases [6].

又一上市公司因财务造假将被强制退市。 近日，中国证监会对上市公司立方数科股份有限公司（以下简称"立方数科"）涉嫌定期报告财务数 据存在虚假记载作出行政处罚及市场禁入事先告知。 经查，2021年至2023年，立方数科通过开展代理业务、融资性贸易、虚假贸易等方式，累计虚增收 入6.38亿元、成本6.28亿元。其中，2021年收入、成本分别虚增2.80亿元、2.77亿元，2022年收入、成本 分别虚增3.12亿元、3.05亿元，2023年收入、成本分别虚增0.46亿元、0.45亿元。立方数科连续3年虚增 收入和成本，严重违反证券法律法规，安徽证监局拟对立方数科处以1000万元罚款，对汪逸等10名责任 人合计罚款3000万元。立方数科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。 同时，中国证监会决定对本案所涉会计师事务所执业行为立案调查，涉嫌未能勤勉尽责的将依法严 惩。 此案是上市公司领罚单，中介机构被同步立案的典型，体现了监管部门打击财务造假"追首 恶"与"打帮凶"并重的导向。南开大学金融发展研究院院长田利辉认为，监管部门对于财务造假的打 击，已经形成了"行政处罚+市场禁入+刑事移送+退市执行+中介追责 ...

因长期财务造假、信披违规，*ST苏吴退市落定。12月1日，江苏吴中医药发展股份有限公司（以下简 称"*ST苏吴"）公告，公司收到上海证券交易所出具的《关于江苏吴中医药发展股份有限公司股票终止 上市的决定》，决定终止公司股票上市，12月9日，其股票将进入退市整理期。 根据中国证监会查证，自2018年起，*ST苏吴长期隐瞒实际控制人，并通过关联交易累计虚增营业收入 超过17.71亿元。更为严重的是，公司约16.93亿元资金被关联方非经营性占用，几乎被掏空核心资产。 退市之际，*ST苏吴经营亦深陷泥潭。其曾寄予厚望、贡献超四成毛利的"童颜针"代理业务因权属争议 已然停摆，而传统医药板块表现溃败。2025年前三季度，*ST苏吴营收同比大幅下滑38.85%，净亏损扩 大至8746.8万元。 虚增与侵占 *ST苏吴的退市，早在10个月前就初露端倪。 今年2月，*ST苏吴收到中国证监会的《立案告知书》，因公司涉嫌信息披露违法违规，根据《中华人 民共和国证券法》等相关法律法规，中国证监会决定对公司立案。5月，*ST苏吴再度公告，因2024年 度财务报告出具了无法表示意见的审计报告，同时叠加控股股东关联方存在非经营性资金占用， ...

12月1日，江苏吴中医药发展股份有限公司（*ST苏吴（600200）；600200.SH）发布公告称，公司已于12月1日收到上海证券交易所《关于江苏吴中医药发 展股份有限公司股票终止上市的决定》。根据该决定，公司股票自12月9日起进入为期15个交易日的退市整理期，预计最后交易日为12月29日。退市整理期 届满后5个交易日内，上交所将对公司股票予以摘牌，公司股票终止上市。 来源：*ST苏吴公告 此次退市决定源于中国证监会于11月25日下发的《行政处罚决定书》（〔2025〕145号）。该处罚书认定，*ST苏吴在2020年至2023年连续四年年度报告中 存在虚假记载，包括虚增营业收入合计17.71亿元、虚增利润总额7599.75万元，并未披露关联方非经营性资金占用，截至2023年末占用余额高达16.93亿元， 占净资产比例达96.09%。上述行为构成《上海证券交易所股票上市规则（2025年4月修订）》第9.5.2条第一款第（六）项规定的重大违法强制退市情形。 早在2025年2月26日，*ST苏吴即因涉嫌信息披露违法违规被中国证监会立案调查。同年5月，公司董事长钱群山被单独立案。7月13日，公司收到《行政处 罚事先告 ...

12月1日晚间，上海证券交易所发布公告：*ST苏吴（维权）（江苏吴中）因重大违法行为被强制终止上市，最后交易日期为2025年12月29日。戏剧性的 是，就在11月罚单公布前，其股价竟诡异地连续涨停，仿佛最后的狂欢。曾被视为江苏吴中"救命稻草"的韩国童颜针，在贡献45%毛利后，一纸解约函让 最后的希望破灭——这不仅是产品丢失，更是信用破产的连锁反应。 当*ST苏吴因17.72亿财务造假、16.9亿资金被实控人当提款机而强制退市时，它不过是这场2025退市风暴的缩影——全年已有多家医疗大健康上市公司被 摘牌，波及A股、港股、美股三地市场，数万名投资者血本无归。 从2月大理药业因市值不足5亿元首尝退市苦果，到5月普利制药虚增利润6.59亿触发重大违法退市，再到10月"癌症早筛第一股"诺辉健康因造假400亿市值 归零、11月美股湖岸生物因股价跌破1美元黯然离场，每起案例都在撕开行业最痛的伤疤：财务造假、资金占用、业绩爆雷、治理失控。 2025年，医疗大健康行业正在经历一场残酷的"清创手术"。一家25年老牌医药巨头，用5年时间编织了一张17.72亿的财务造假巨网，最终把自己送进了退 市之门。 值得注意的是，因违法行为" ...

Core Viewpoint - *ST Lifan is facing severe financial fraud allegations, leading to a forced delisting due to significant discrepancies in reported revenues and costs, with a total inflated revenue of 638 million yuan and costs of 628 million yuan from 2021 to 2023 [1] Group 1: Financial Irregularities - The company has repeatedly adjusted its accounting errors, indicating potential underlying issues [1] - There is a mismatch between the company's soaring revenues and its expenses, raising red flags about its financial health [1] - Despite claiming increased revenues due to enhanced core competitiveness, the gross profit margin has dropped to levels typical of trading businesses [1][12] Group 2: Fraudulent Practices - The company employed three main fraudulent methods to inflate revenues and costs: 1. **Agency Business**: From 2021 to 2023, *ST Lifan inflated its revenue by 218 million yuan in 2021, 38.48 million yuan in 2022, and 19.57 million yuan in 2023 through agency business [3] 2. **Financing Trade**: The company inflated its revenue by 61.37 million yuan in 2021, 222 million yuan in 2022, and 26.30 million yuan in 2023 through financing trade [4] 3. **Fictitious Trade**: In 2022, *ST Lifan inflated its revenue by 51.04 million yuan through fictitious trade [5] Group 3: Company Background and Performance - *ST Lifan, originally established in 1999, underwent a significant transformation in 2020, shifting focus to digital technology services, which led to a dramatic increase in revenue from 198 million yuan in 2020 to 604 million yuan in 2022 [8] - Despite the revenue surge, the company reported a significant decrease in sales and management expenses, with sales expenses dropping by 56.10% and management expenses by 59.49% in 2021 [8] - The company's gross profit margin fell by 8.78% in 2022, reaching 2.65%, indicating a decline to trading business levels [12]

值得注意的是，公司股票自11月26日以来一直处于停牌状态之中，而在停牌前，该公司股价一度出现五 连板。 图片来 源：界面图库 12月1日晚间， 江苏吴中医药发展股份有限公司（简称：江苏吴中、*ST苏吴，代码：600200.SH） 发 布公告称，公司当日收到上海证券交易所出具的《关于江苏吴中医药发展股份有限公司股票终止上市的 决定》，上交所正式决定终止公司股票上市。 经查明，江苏吴中及相关人员未如实披露实际控制人，2018年至2023年年度报告存在虚假记载；虚增营 业收入、营业成本和利润，2020年至2023年年度报告存在虚假记载。 2018年2月，江苏吴中控股股东苏州吴中投资控股有限公司发生股权变更，变更后，钱群山实际支配江 苏吴中行为，成为江苏吴中实际控制人。江苏吴中2018年至2023年年度报告披露钱群英为实际控制人， 存在虚假记载。 江苏吴中子公司江苏吴中进出口有限公司、中吴贸易发展（杭州）有限公司、江苏吴中海利国际贸易有 限公司通过与浙江优诺德贸易有限公司等多家关联公司开展无商业实质的贸易业务，虚增营业收入、营 业成本和利润。 上述行为导致江苏吴中在2020年至2023年年度报告中分别虚增营业收入4. ...

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！ 一、监管下发正式处罚 上海沪紫律师事务所刘鹏律师团队代理的案件已递交法院立案审理。回溯此案，11月8日，天圣制药发 布收到监管送达的《行政处罚决定书》的公告。（刘鹏律师专栏） 经查明，该公司2017年和2018年年度报告存在虚增利润总额、未及时披露关联交易及年报存在重大遗漏 等违法行为。 目前针对该公司的索赔区间为于2018年4月23日-2025年1月8日（含当日）期间买入，并在2025年1 月9日之后卖出或仍持有而亏损的即可加入维权行列。（ST天圣维权入口） 投资者在参与索赔前，应准备好相关交易凭证，如交易记录、对账单等，以便律师团队审核是否符合索 赔条件。律师团队将依据相关法律法规，为受损投资者提供法律援助，全力维护投资者的合法权益。 二、存在两类违规事实 上海沪紫律师事务所刘鹏律师团队代理的案件已递交法院立案审理。回溯此案，11月8日，天圣制药发 布收到监管送达的《行政处罚决定书》的公告。（ ...