Termination of Listing - The termination date for *ST Yuancheng's listing is December 5, 2025 [1] - The reason for termination is that the company's total market capitalization has been below 500 million yuan for 20 consecutive trading days from October 14 to November 10, 2025, triggering mandatory delisting conditions [1] - The company is also under investigation by the China Securities Regulatory Commission for suspected false disclosures in its annual reports, which may have influenced its delisting [1] - After delisting, the company's shares will be transferred to the National Equities Exchange and Quotations system for management [1] Company Type and Business Scope - *ST Yuancheng is an integrated environmental service provider focused on "big environment" services, with core areas in ecological landscape, green environmental protection, and leisure tourism [1] - The business scope includes ecological landscape engineering, green environmental protection engineering, and leisure tourism engineering, among other services [1] - The company holds various qualifications, including Class A qualifications in landscape engineering design and Class A qualifications in environmental pollution control [1] Company Qualifications and Honors - *ST Yuancheng possesses numerous high-level qualifications, such as Class A in urban planning, architectural design, and environmental pollution control [1] - The company has been recognized as an "AAA" rated enterprise and a "Contract-abiding and Credit-worthy" unit for several consecutive years [1] - It is also a national high-tech enterprise and a well-known brand in Zhejiang Province, with multiple projects awarded gold and silver medals by the Chinese Society of Landscape Architecture [1]

Core Viewpoint - *ST Yuancheng has received a decision from the Shanghai Stock Exchange to terminate its stock listing due to continuous low market capitalization and financial losses, with the delisting date set for December 5, 2025 [1][3]. Group 1: Delisting Decision - The Shanghai Stock Exchange decided to terminate the listing of *ST Yuancheng's stock, effective December 5, 2025 [1]. - From October 14 to November 10, 2025, *ST Yuancheng's market capitalization was below 500 million yuan for 20 consecutive trading days [3]. - Following the delisting, the company's stock will be transferred to the National Equities Exchange and Quotations system for trading [3]. Group 2: Financial Performance - In the first three quarters of the year, *ST Yuancheng reported revenue of 102 million yuan and a net loss of 143 million yuan [7]. - The company's revenue has been declining, with figures of 294 million yuan, 274 million yuan, and 146 million yuan from 2022 to 2024, respectively, while net losses increased from 65.48 million yuan to 325 million yuan during the same period [7]. - The company has faced continuous operational challenges, leading to a warning about its ability to continue as a going concern in the 2024 audit report [7]. Group 3: Regulatory Issues - On October 10, 2025, *ST Yuancheng received a notice from the China Securities Regulatory Commission regarding administrative penalties for false reporting in annual reports from 2020 to 2022 [8]. - The company was found to have inflated project costs and revenues, which could lead to a forced delisting due to significant violations of stock listing rules [8]. - Proposed penalties include a fine of 37.45 million yuan for the company and a total of 42 million yuan for five responsible individuals, including the controlling shareholder [8].

11月28日，*ST元成(603388.SH)公告称，公司于11月28日收到上交所出具的《关于元成环境股份有限公司股票终止上市的决定》，上交所决定终止公司股 票上市。公司终止上市暨摘牌日为2025年12月5日。 公司股票终止上市后，将转入全国中小企业股份转让系统依托原证券公司代办股份转让系统设立并代为管理的两网公司及退市公司板块挂牌转让。 *ST元成将于12月5日终止上市。 2025年10月10日，证监会对*ST元成涉嫌定期报告等财务数据存在虚假记载作出行政处罚并事先告知，*ST元成涉嫌触及重大违法强制退市情形，上交所 将依法启动退市程序。 证监会官网显示，*ST元成连续三年虚增收入和利润，违反证券法律法规。经查明，*ST元成主要通过以下手段造假： 一是虚增越龙山项目成本与产值，导致2020年至2022年年报中的营业收入和利润总额严重失实。 其中，*ST元成累计虚增营业成本约1.58亿元、营收2.09亿元、利润总额达5046.02万元。其中，2020年年报虚增利润总额3848.04万元，占当期披露金额的 36.60%；2021年年报虚增利润总额1109.39万元，占当期披露金额的19.32%；2022年年报虚 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ *ST元成（维权）将于12月5日终止上市。 11月28日，*ST元成（603388.SH）公告称，公司于11月28日收到上交所出具的《关于元成环境股份有 限公司股票终止上市的决定》，上交所决定终止公司股票上市。公司终止上市暨摘牌日为2025年12月5 日。 公司股票终止上市后，将转入全国中小企业股份转让系统依托原证券公司代办股份转让系统设立并代为 管理的两网公司及退市公司板块挂牌转让。 2025年10月10日，证监会对*ST元成涉嫌定期报告等财务数据存在虚假记载作出行政处罚并事先告知， *ST元成涉嫌触及重大违法强制退市情形，上交所将依法启动退市程序。 证监会官网显示，*ST元成连续三年虚增收入和利润，违反证券法律法规。经查明，*ST元成主要通过 以下手段造假： 一是虚增越龙山项目成本与产值，导致2020年至2022年年报中的营业收入和利润总额严重失实。 其中，*ST元成累计虚增营业成本约1.58亿元、营收2.09亿元、利润总额达5046.02万元。其中，2020年 年报虚增利润总额3848.04万元，占当期披露金额的36.60%；20 ...

Core Viewpoint - The article discusses the administrative penalties and market bans imposed on Lifan Shuke Co., Ltd. for falsifying financial data in its periodic reports, highlighting significant violations of securities laws and potential delisting risks [1][2]. Group 1: Administrative Penalties - The China Securities Regulatory Commission (CSRC) has issued a notice regarding administrative penalties against Lifan Shuke for suspected false reporting of financial data from 2021 to 2023, resulting in a cumulative inflation of revenue by 638 million yuan and costs by 628 million yuan [1]. - 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 Wang Yi [1]. - Wang Yi, Yu Kebai, and Xiang Liangbao will face a 10-year ban from the securities market [1]. Group 2: Financial Impact and Stock Market Response - Lifan Shuke's annual reports for 2021 and 2022 contained false records, with the inflated revenue amounting to approximately 591.58 million yuan, representing 50.91% of the total reported revenue for those two years [2]. - The company is at risk of being forcibly delisted due to significant legal violations, with the Shenzhen Stock Exchange initiating delisting procedures [1][2]. - As of November 28, Lifan Shuke's stock fell by 5.62%, accumulating a 30% decline for the week, with a total market capitalization of 2.16 billion yuan [2]. Group 3: Company Overview - Lifan Shuke's primary business segments include intelligent hardware and software, as well as digital intelligent services [2]. - For the first three quarters of 2025, Lifan Shuke reported revenue of 203 million yuan, a year-on-year decrease of 0.44%, and a net loss attributable to shareholders of 62.21 million yuan, down 20.59% year-on-year [2].

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。 立方数科连续三年虚增收入和成本，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，证监会决定对本案所涉会计师事务所执业行为正式立案调查，涉嫌未能勤勉尽责的将依法严惩。对于相关违法行为可能涉及的证券犯罪问题 线索，证监会将坚持应移尽移的工作原则，依法依规移送公安机关。 据证监会网站，近日，证监会对上市公司立方数科股份有限公司（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。 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed administrative penalties and market bans on Lifan Shuke Co., Ltd. for falsifying financial data in its periodic reports from 2021 to 2023, leading to significant financial discrepancies and potential delisting from the Shenzhen Stock Exchange [1][2]. Summary by Sections Financial Misconduct - Lifan Shuke inflated its revenue by a total of 638 million yuan and costs by 628 million yuan from 2021 to 2023 through various fraudulent activities, including agency business and fictitious trades [1]. - 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]. Regulatory Actions - The CSRC plans to impose a fine of 10 million yuan on Lifan Shuke and a total of 30 million yuan in fines on 10 responsible individuals, including the company's former chairman and executives [1]. - The company is facing potential delisting due to serious violations of securities laws, with the Shenzhen Stock Exchange initiating delisting procedures [1]. Individual Accountability - Key executives, including former chairman Wang Yi and general manager Yu Kebai, are facing a 10-year ban from the securities market due to their roles in the misconduct [2]. - The CSRC has also announced that it will investigate the accounting firm involved for failing to perform due diligence [1][2]. Company Profile - Lifan Shuke is a digital technology cloud service provider focused on new digital infrastructure, with a total market capitalization of 2.1 billion yuan [2].

登录新浪财经APP 搜索【信披】查看更多考评等级 出品：新浪上市公司研究院 文/夏虫工作室 核心观点：科创信息（维权）与大有科技的交易究竟是遭遇合同诈骗还是涉嫌财务造假？为何公司在仅 收到预付款890万元，便全额确认收入？与此同时，科创信息为何不直接与川综能交易，嵌入大有科技 是否涉嫌垫资业务？公司是否存在造假动机？值得注意的是，公司当年业绩承压。 近日，科创信息因涉嫌信息披露违法违规，遭监管立案调查。 受此影响，公司股价遭受重挫，立案调查公告日当天股价跌停，11月17日至11月27日，公司股价跌幅达 到22.18%。 来源：wind 对于科创信息爆雷，新浪上市公司研究院夏虫工作室早在2025年09月23日提前发出风险预警。 我们在创意信息财务造假案例复盘中发现，其财务造假交易主体国网四川综合能源服务有限公司（简 称"川综能"）、国宁睿能绿色能源科技有限公司（简称"国宁睿能"）不仅仅包括创意信息，也同时牵涉 多家上市公司，其中包括科创信息、微创光电等。随着创意信息被认定财务造假，我们首次对科创信 息、微创光电等发出是否存在财务造假风险的疑问，同时提示是否相关标的又是否可能存在ST或强制 退市等风险。具体详见《 ...

Core Viewpoint - *ST Dongtong (300379.SZ) is facing potential delisting from the Shenzhen Stock Exchange due to false disclosures in its annual reports from 2019 to 2022, which violate the listing rules of the Growth Enterprise Market [1][2]. Summary by Sections Financial Misconduct - The company has been found to have inflated revenues by a total of 432 million yuan and profits by 314 million yuan from 2019 to 2022 [3]. - Specific inflated figures include 61.45 million yuan in 2019, 84.85 million yuan in 2020, 125.51 million yuan in 2021, and 160.53 million yuan in 2022 for revenue, and 52.23 million yuan, 58.77 million yuan, 79.48 million yuan, and 123.69 million yuan for profit respectively [2][3]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) has proposed a fine of 229 million yuan against the company and 44 million yuan against seven responsible individuals, with a 10-year market ban for the actual controller [6]. - The company has the right to request a hearing or submit written statements, failing which the exchange will proceed with the delisting process [2]. Company Background - *ST Dongtong was listed on the Shenzhen Stock Exchange in 2014 and is recognized as a pioneer in middleware solutions in China, providing various digital products and services [7]. - The company has raised nearly 3.6 billion yuan through direct financing since its listing, with a significant portion raised through a private placement in June 2023 [3][5].

【导读】*ST东通因财务造假触及重大违法强制退市，股票自11月26日起停牌 今天尾盘冲进去的股民要傻眼了…… 11月25日晚间，*ST东通公告称，因财务造假触及重大违法强制退市，股票自11月26日起停牌。 值得注意的是，今日早间，*ST东通开盘直线下挫，一度触及跌停，午后快速拉升。截至11月25日收盘，*ST东通涨7.86%，全天换手率达35.66%，振幅达 30.71%，全天成交4亿元。 因财务造假面临强制退市 公告称，公司于2025年11月25日收到中国证券监督管理委员会北京监管局下发的《行政处罚决定书》（〔2025〕21号），认定公司2019年至2022年年度报 告信息披露存在虚假记载。同时，因公司2022年度向特定对象发行股票的相关文件引用了上述2019年至2021年年度报告中营业收入、利润总额等虚假财务 数据，构成欺诈发行。 前述事实触及《深圳证券交易所创业板股票上市规则》（2025年修订）第10.5.1条第（一）项、第10.5.2条第一款第（六）项规定的重大违法强制退市的情 形，公司股票可能被终止上市。根据《创业板股票上市规则》第10.5.8条相关规定，公司股票自2025年11月26日（星期三）开 ...