财务造假，A股医美概念龙头*ST苏吴退市！从行情来看，*ST苏吴年内股价暴跌，从年初的9元多，一 度跌到不足1元，年内跌幅一度超过90%。 A股医美概念龙头股被强制退市 停牌前5涨停 12月1日晚间，*ST苏吴（江苏吴中，600200.SH）发布公告称，已收到上海证券交易所出具的股票终止 上市决定。根据安排，公司股票将于2025年12月9日进入退市整理期，预计最后交易日期为12月29日。 此次*ST苏吴被强制退市，核心原因在于触及重大违法强制退市情形。回溯来看，11月25日，*ST苏吴 收到中国证监会下发的《行政处罚决定书》（下称"《决定书》"），认定其披露的2020年至2023年年度 报告存在虚假记载。依据相关规定，上交所作出了上述终止上市的决定。 事实上，在收到证监会《决定书》的次日，*ST苏吴股票已开始停牌，停牌周期至12月8日结束。从停 牌前的市场表现来看，截至11月25日收盘，该股票已连续五个交易日涨停，当天收报1.24元/股，涨幅达 5.08%，总市值为8.81亿元。不过，与去年同时期相比，该公司的股价和市值，已缩水近九成。 值得注意的是，*ST苏吴的退市并非个例，2025年以来，已有多家A股上市 ...

| 1.24 0.00 0.00% | | | | | | 600200 交易 | | --- | --- | --- | --- | --- | --- | --- | | SSE CNY 9:00:00 停牌 | | | | | 酸似感持会脂 √ □ + | | | 委比 | 0.00% 委差 | O | Wind ESG评级 D | | | 详情 | | 30 th ary | | - | 交生 | -86.70% 120日 | | -50.99% | | 壶四 | | - | 5日 | 0.00% 250日 | | -87.62% | | 卖三 | | | 20日 | 21.57% 52周高 | | 10.78 | | 卖二 | | | 60日 | 19.23% 52周低 | | 0.88 | | 卖一 | | | | 2023 | 2024 | 2025Q3 | | 买一 | | | EbS | -0.10 | 0.10 | -0.12 | | 武二 | | | BbS | 2.45 | 2.56 | 2.43 | | 孟三 | | | ROE | -4.06% | 3.95% | -4.93% | ...

记者丨 韩利明 编辑丨季媛媛 财务造假，A股医美概念龙头*ST苏吴退市！从行情来看，*ST苏吴年内股价暴跌，从年初的9 元多，一度跌到不足1元，年内跌幅一度超过90%。 A股医美概念龙头股被强制退市 停牌前5涨停 12月1日晚间，*ST苏吴（江苏吴中，600200.SH）发布公告称，已收到上海证券交易所出具的 股票终止上市决定。根据安排，公司股票将于2025年12月9日进入退市整理期，预计最后交易 日期为12月29日。 此次*ST苏吴被强制退市， 核心原因在于触及重大违法强制退市情形。 回溯来看，11月25 日，*ST苏吴收到中国证监会下发的《行政处罚决定书》（下称"《决定书》"），认定其披露 的2020年至2023年年度报告存在虚假记载。依据相关规定，上交所作出了上述终止上市的决 定。 事实上，在收到证监会《决定书》的次日，*ST苏吴股票已开始停牌，停牌周期至12月8日结 束。从停牌前的市场表现来看，截至11月25日收盘， 该股票已连续五个交易日涨停，当天收 报1.24元/股，涨幅达5.08%，总市值为8.81亿元。 不过， 与去年同时期相比，该公司的股价 和市值，已缩水近九成。 值得注意的是，*ST苏吴的 ...

Core Viewpoint - ST Lifan (300344.SZ) resumed trading with a limit down at 2.69 yuan, with over 1.4 million shares on hold, resulting in a market capitalization of 1.726 billion yuan; the total trading volume exceeded 3.8 million yuan for the day [1] Group 1: Company Financial Irregularities - On November 28, ST Lifan announced it received an "Administrative Penalty and Market Ban Notice" due to potential false records in its annual reports from 2021 to 2023, which may lead to mandatory delisting [1] - From 2021 to 2023, ST Lifan inflated its revenue by a total of 638 million yuan and costs by 628 million yuan through various means including agency business, financing trade, and false trade [1] - The inflated figures for each year are as follows: - 2021: Revenue inflated by 280 million yuan, costs inflated by 277 million yuan - 2022: Revenue inflated by 312 million yuan, costs inflated by 305 million yuan - 2023: Revenue inflated by 46 million yuan, costs inflated by 45 million yuan [1] Group 2: Market Reaction - Following the announcement, ST Lifan's stock was placed under delisting risk warning, changing its name from "ST Lifan" to "*ST Lifan (Rights Protection)" effective December 2 [1]

Core Viewpoint - Jiangsu Wuzhong's stock will be delisted due to serious violations including financial fraud and failure to disclose the actual controlling shareholder [1][3] Group 1: Regulatory Actions - The China Securities Regulatory Commission (CSRC) has issued an administrative penalty decision against Jiangsu Wuzhong, citing continuous financial fraud over four years from 2020 to 2023 [2][3] - Jiangsu Wuzhong has been found to have inflated its operating income by a total of 1.771 billion yuan and its total profit by 75.9975 million yuan during this period [3] - The company is also accused of providing non-operating funds to related parties, with a balance of 1.693 billion yuan by the end of 2023, accounting for 96.09% of the disclosed net assets [3][4] Group 2: Management Accountability - Key individuals, including Qian Qunshan, who held multiple executive roles, have been penalized for their involvement in the financial misconduct [3][4] - The CSRC has determined that Qian Qunshan is primarily responsible for the financial fraud, including concealing the actual controlling shareholder's identity and orchestrating non-commercial trade activities [3][4] Group 3: Delisting Process - Jiangsu Wuzhong's stock will enter a delisting preparation period starting December 9, with a trading duration of 15 days, and the expected last trading day is December 29 [5] - The stock will be traded on the risk warning board during this period, with the first trading day having no price limit, followed by a daily limit of 10% [5] - Prior to the announcement of the suspension, Jiangsu Wuzhong's stock experienced a five-day consecutive limit-up, with a total increase of 27.84%, despite warnings of potential delisting [5]

连续多年财务造假被查处，沈阳远大智能（002689）工业集团股份有限公司（以下简称"远大智能"）及 相关责任人日前收到辽宁证监局出具的《行政处罚事先告知书》。根据交易所上市规则相关规定，远大 智能股票自12月2日起将被实施其他风险警示，证券简称将由"远大智能"变更为"ST远智"。 非法确认租赁业务收入方面，远大智能在未取得交房验收确认单的情况下仍确认对应租赁收入，导致 2021年虚增营业收入914.85万元，占当期报告记载营业收入的0.94%；虚增利润总额848.17万元，占当 期报告记载利润总额绝对值的62.47%。 前述两项违法行为，致使远大智能2019年、2020年、2021年三个年度的年度报告和2022年半年度报告存 在虚假记载。 "定期报告是上市公司对经营成果、财务状况及治理情况的全面总结，不仅能为投资者提供关键信息， 帮助其评估公司价值和风险，同时也可以引导社会资源流向更具效益的企业，促进资本市场的高效运 作。"深圳优品投资顾问有限公司投资顾问李鹏岩在接受《证券日报》记者采访时表示，上市公司财务 报表失真不仅可能误导投资者决策，同时也会侵蚀市场信任，扰乱市场秩序，破坏价格发现机制。 合计拟处罚21 ...

2025.11.30 本文字数：2666，阅读时长大约4分钟 作者 |第一财经 周楠 连续三年虚增营收，其中两年的虚增金额占到当期总营收五成以上，控股股东正在推进破产重整的ST 立方（300344.SZ），因上述财务造假问题吃下大额罚单，并由此拉响退市"警钟"。 ST立方最新披露，公司被查明存在年报虚假记载，2021年至2023年累计虚增营收超6亿元，安徽证监局 对公司及10名相关责任人合计罚款4000万元，多人被采取10年市场禁入措施。 记者关注到，在此番被查明财务造假之前，ST立方去年至今两度更正会计差错，2024年年报被出具"非 标"意见，今年4月底被实施ST。 如今，ST立方在"戴帽"半年之后还将"披星"。根据安排，该股将于12月1日开市起停牌，次日复牌后股 票简称变更为*ST立方。公司同时提到，若后续正式处罚出炉，公司被认定触及重大违法强制退市情 形，将被终止上市。 基本面上，ST立方已亏损累累，近五年扣非净利润累计亏损超10亿元。公司控股股东正在推进破产重 整，持股5%以上股东的部分持股近期则遭遇流拍。 连续三年财务造假 今年年报季里，ST立方遭遇年报"非标"，并因此被实施其他风险警示。4月30日 ...

Group 1 - ST Lifan has received a notice of administrative punishment and market ban due to long-term systematic financial fraud, leading to potential forced delisting from the capital market [1][2] - The company reported false financial statements for the years 2021, 2022, and 2023, which may trigger significant violations leading to mandatory delisting [1][2] - The total amount of false revenue reported for 2021 and 2022 reached 592 million, accounting for 50.91% of the total disclosed annual revenue for those years, directly triggering delisting standards [2] Group 2 - The company’s stock will be suspended from trading starting December 1, 2025, and will resume trading on December 2, 2025, with a risk warning label changing from "ST Lifan" to "*ST Lifan" [1] - Legal actions for compensation have begun against ST Lifan, with evidence supporting future investor lawsuits [1][2] - The auditing firm involved in ST Lifan's financial fraud, Zhongxing Huaguang, is under investigation by the China Securities Regulatory Commission [2]

Core Viewpoint - ST Lifan has been found guilty of financial fraud over three consecutive years, leading to significant penalties and potential delisting from the stock market [1][2][5]. Group 1: Financial Fraud Details - From 2021 to 2023, ST Lifan inflated its revenue by a total of 638 million yuan and costs by 628 million yuan through various fraudulent activities [1]. - The specific annual breakdown shows that in 2021, revenue was inflated by 280 million yuan and costs by 277 million yuan; in 2022, revenue was inflated by 312 million yuan and costs by 305 million yuan; and in 2023, revenue was inflated by 46 million yuan and costs by 45 million yuan [2][4]. - The inflated revenue for 2021 and 2022 combined reached 592 million yuan, accounting for 50.91% of the total reported revenue for those years, triggering mandatory delisting regulations [2]. Group 2: Penalties and Consequences - The China Securities Regulatory Commission (CSRC) plans to impose a fine of 10 million yuan on ST Lifan and a total of 30 million yuan on ten responsible individuals, including a 10-year market ban for three key individuals [1][6]. - The Shenzhen Stock Exchange will initiate delisting procedures, with ST Lifan's stock being suspended for one day starting December 1 and then resuming trading under a risk warning as "*ST Lifan" on December 2 [1][6]. - The accounting firm Zhongxing Caiguanghua has faced scrutiny for issuing unqualified audit reports for ST Lifan from 2021 to 2023, and the CSRC has opened an investigation into the firm's conduct [6][7].

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