Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced severe penalties against *ST Yuancheng for serious financial fraud, including inflated revenues and profits over three consecutive years, leading to potential delisting from the Shanghai Stock Exchange [2][6][12]. Summary by Sections Financial Fraud Details - *ST Yuancheng inflated its operating costs by 158 million yuan, operating income by 209 million yuan, and total profit by 50.46 million yuan from 2020 to 2022, with the 2020 annual report showing inflated operating costs of 115 million yuan, operating income of 153 million yuan, and total profit of 38.48 million yuan, representing 22.75%, 21.48%, and 36.6% of the disclosed amounts respectively [8]. - In 2022, the company failed to adjust financial records based on settlement approvals for various infrastructure projects, resulting in inflated operating income of 14.16 million yuan and total profit of 13.45 million yuan, which accounted for 4.33% and 24.6% of the disclosed amounts respectively [9]. - The company fabricated significant false content in its non-public stock issuance documents in 2022, using inaccurate financial data from the previous years [10]. Regulatory Actions - The CSRC plans to impose a fine of 37.45 million yuan on *ST Yuancheng and a total of 42 million yuan on five responsible individuals, with the actual controller facing a 10-year ban from the securities market [2][12][14]. - The company is suspected of major violations that could lead to mandatory delisting, as it has not received a formal penalty decision yet [16]. Company Background and Financial Status - Founded in 1999 and headquartered in Hangzhou, *ST Yuancheng focuses on environmental services, including leisure tourism and ecological landscape [16]. - The company has been experiencing continuous losses since 2022, with losses exceeding 300 million yuan in 2024 and a reported loss of 127 million yuan in the first half of 2025 [16]. - As of October 10, the company's market capitalization is only 537 million yuan [17].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) announced administrative penalties against Yuancheng Environment Co., Ltd. (*ST Yuancheng) for suspected false reporting of financial data, leading to potential delisting procedures due to serious violations of securities laws [1] Summary by Categories Company Actions - *ST Yuancheng has been found to have inflated revenue and profits for three consecutive years, violating securities laws and regulations [1] - The CSRC plans to impose a fine of 37.4546 million yuan on the company [1] Penalties and Consequences - A total of 42 million yuan in fines will be levied against five responsible individuals [1] - The actual controller of *ST Yuancheng will face a 10-year ban from the securities market [1] Legal Proceedings - The CSRC will transfer any potential criminal evidence to law enforcement agencies in accordance with legal requirements [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice regarding administrative penalties against Yuancheng Environment Co., Ltd. (*ST Yuancheng) for falsifying financial data in its periodic reports, leading to potential delisting from the Shanghai Stock Exchange [1][8]. Group 1: Financial Misconduct - Yuancheng Environment has been found to have inflated revenue and profits for three consecutive years (2020-2022), violating securities laws [1][5]. - The company inflated its operating costs by approximately 158.44 million yuan, revenue by about 208.90 million yuan, and total profit by around 50.46 million yuan through manipulation of the Yuelongshan project [2]. - In 2022, the company failed to adjust its financial records based on the settlement results of the Huaiyin project, leading to an inflated revenue of approximately 14.16 million yuan and profit of about 13.45 million yuan, which represented 4.33% and 24.60% of the reported figures, respectively [3]. Group 2: Regulatory Actions - The CSRC plans to impose a fine of approximately 37.45 million yuan on Yuancheng and a total of 42 million yuan on five responsible individuals, including a 10-year market ban on the actual controller, Zhu Changren [1][8]. - The company’s 2022 non-public stock issuance documents contained significant false information, violating multiple provisions of the Securities Law [4][6]. - The CSRC has indicated that Yuancheng's actions may trigger mandatory delisting procedures due to serious violations of the listing rules [8]. Group 3: Individual Accountability - Zhu Changren, as the actual controller, is accused of orchestrating the financial misconduct and will face a 10-year ban from the securities market [5][8]. - Other key personnel, including Zhou Jinhai, Yao Lihua, and Chen Ping, are also facing fines and warnings for their roles in the financial misreporting [9].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced administrative penalties against Yuan Cheng Environment Co., Ltd. (*ST Yuan Cheng) for falsifying financial data in its periodic reports, leading to potential delisting from the Shanghai Stock Exchange [1][2]. Group 1: Regulatory Actions - The CSRC has proposed a fine of 37.45 million yuan against *ST Yuan Cheng and a total of 42 million yuan against five responsible individuals [1][2]. - The actual controller of *ST Yuan Cheng is facing a 10-year ban from the securities market due to severe violations [2]. - The company is under investigation for potential criminal activities, with evidence to be forwarded to law enforcement [1]. Group 2: Financial Misconduct Details - The CSRC's notice indicates that *ST Yuan Cheng inflated revenue and profits for three consecutive years from 2020 to 2022, violating securities laws [1][2]. - Specific fraudulent activities included inflating project costs and revenues related to the Yuelongshan project and failing to account for discrepancies in the Huaiyin project, which led to inflated profits in 2022 [2]. Group 3: Company Overview - Yuan Cheng Environment Co., Ltd. was established in 1999 and is headquartered in Hangzhou, Zhejiang. It focuses on ecological environment governance and landscape construction, with services including water pollution control, soil remediation, and municipal engineering [3]. Group 4: Market Reaction - On October 10, *ST Yuan Cheng's stock price fell by 4.07%, closing at 1.65 yuan per share [4].

Group 1 - The core issue involves *ST Yuancheng's alleged false reporting of financial data, including inflated revenue and profits for three consecutive years, violating securities laws and regulations [1] - The China Securities Regulatory Commission (CSRC) plans to impose a fine of 37.45 million yuan on the company and an aggregate fine of 42 million yuan on five responsible individuals [2] - The actual controller of *ST Yuancheng faces a 10-year ban from the securities market due to the violations [2] Group 2 - *ST Yuancheng is suspected of triggering significant violations that may lead to mandatory delisting, prompting the Shanghai Stock Exchange to initiate delisting procedures [2] - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with relevant legal standards [2]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative penalty against *ST Yuancheng for suspected false reporting of financial data, revealing that the company inflated revenue and profits for three consecutive years [1] Group 1: Company Actions - *ST Yuancheng is facing a proposed fine of 37.45 million yuan for the company itself and a total of 42 million yuan for five responsible individuals [1] - The actual controller of *ST Yuancheng is subject to a 10-year ban from the securities market [1] Group 2: Regulatory Response - The Shanghai Stock Exchange will initiate delisting procedures for *ST Yuancheng due to serious violations that may lead to mandatory delisting [1] - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with relevant legal standards [1]

Group 1 - The core issue involves the administrative penalty against *ST Yuancheng (元成环境股份有限公司) for falsifying financial data in its periodic reports, with the China Securities Regulatory Commission (CSRC) indicating violations of securities laws [1] - *ST Yuancheng has inflated its revenue and profits for three consecutive years, leading to a proposed fine of 37.45 million yuan for the company and a total of 42 million yuan for five responsible individuals [1] - The actual controller of *ST Yuancheng faces a 10-year ban from the securities market, and the Shanghai Stock Exchange will initiate delisting procedures due to significant violations [1] Group 2 - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with relevant legal standards [1]

证监会网站 近日，我会对上交所主板上市公司元成环境股份有限公司（简称*ST元成（维权））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元成连续三年虚增收入和利润，违反证券法律法规。我会拟对上市公司罚款3745.46万元，对5名责任人员合计罚款4200万 元，对实际控制人采取10年证券市场禁入。*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。对于可能涉及的犯罪线 索，我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。 网站截图 ...

经查，*ST元成连续三年虚增收入和利润，违反证券法律法规。证监会拟对上市公司罚款3745.46万元， 对5名责任人员合计罚款4200万元，对实际控制人采取10年证券市场禁入。 *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。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。 据证监会网站，近日，证监会对上交所主板上市公司元成环境股份有限公司（简称*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事先告知。 ...

经查 ， *ST 元成连续三年虚增收入和利润，违反证券法律法规 。证监 会拟对上市公司罚款3745.46 万元，对5名责任人员合计罚款4200万元，对实际控制人采取10年证券市场禁入。 *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。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。 据证监会网站， 近日，证监会对上交所主板上市公司元成环境股份有限公司 （ 简称 *ST元成 ） 涉 嫌定期报告等财务数据存在虚假记载 作出行政处罚事先告知 。 ...