长江商报消息 ●长江商报记者 徐佳 国资入主尚未落定，思创医惠（300078.SZ）欺诈发行案重回大众视野。 日前，思创医惠公告称，公司收到杭州市公安局出具给公司的《调取证据通知书》，杭州市公安局侦办的公司等 涉嫌欺诈发行证券案需调取公司有关证据材料。截至目前，上述案件尚处于公安机关侦查阶段，尚未有明确结 论。公司将积极配合公安机关的调查取证工作。 长江商报记者注意到，2024年初，思创医惠被证监会坐实财务造假，被重罚8570万元，公司原董事长一并被罚且 被禁入市场10年。2020年至2024年，思创医惠已连续五年扣除非经常性损益后的净利润（扣非净利润，下同）亏 损，累计亏损30.57亿元。 值得关注的是，8月初，思创医惠拟作价3亿元将财务造假实施主体、子公司医惠科技有限公司（以下简称"医惠科 技"）出售给苍南县财政局控制的山海数科。当前，苍南县财政局正在推进对思创医惠的入主事项。 随着证券市场的法治化进程持续深化，思创医惠通过出售医惠科技、引入国资股东等方式试图自救，但连续五年 的巨额亏损和监管重罚，使其依然面临市场信任危机。 涉嫌欺诈发行证券案被调查 日前，思创医惠发布公告称，公司收到杭州市公安局出具给公 ...

浙江证监局指出，思创医惠时任董事长、总经理章笠中违法情节严重，该局拟决定：对章笠中采取10年 市场禁入措施。自浙江证监局宣布决定之日起，在禁入期间内，除不得继续在原机构从事证券业务或者 担任原上市公司、非上市公众公司董事、监事、高级管理人员职务外，也不得在其他任何机构中从事证 券业务或者担任其他上市公司、非上市公众公司董事、监事、高级管理人员职务。 中国经济网北京8月18日讯思创医惠（300078）(300078.SZ)15日发布关于收到杭州市公安局调取证据通 知书的公告。2025年8月14日，思创医惠收到杭州市公安局出具给公司的《调取证据通知书》【杭公 (经)调证字[2025]00481号】。《调取证据通知书》显示，杭州市公安局侦办的公司等涉嫌欺诈发行证券 案需调取公司有关证据材料。 截至目前，上述案件尚处于公安机关侦查阶段，尚未有明确结论。公司将积极配合公安机关的调查取证 工作。 思创医惠2023年9月发布公告称，公司于2023年9月25日收到中国证券监督管理委员会浙江监管局下发的 《行政处罚及市场禁入事先告知书》(浙处罚字[2023]28号)。 思创医惠涉嫌欺诈发行及信息披露违法违规一案，已由浙江证监局 ...

Core Viewpoint - The company Sichuan Medical Technology Co., Ltd. (思创医惠) is under criminal investigation for financial fraud, following previous administrative penalties related to falsified financial statements [1][4][5]. Group 1: Investigation and Legal Actions - The company received a notification from the Hangzhou Public Security Bureau regarding the collection of evidence related to a fraud case involving securities issuance [1][4]. - The investigation focuses on past financial data and is linked to an earlier administrative penalty issued by the Zhejiang Securities Regulatory Commission [3][5]. - The Zhejiang Securities Regulatory Commission found that the company inflated its revenue by CNY 34.93 million and profits by CNY 33.02 million in 2019, which constituted 20.03% of the total profit for that period [6][7]. Group 2: Financial Performance and Adjustments - In 2024, the company reported a revenue of CNY 690.77 million, a decrease of 31.33% compared to 2023, and a net loss of CNY 501.51 million, which is a 42.64% reduction in losses year-on-year [11][12]. - The company has undergone significant restructuring, including the resignation of its former chairman and the sale of its subsidiary, which was the main platform for the financial fraud [9][10]. - The company is shifting its focus from smart medical services to the Internet of Things (IoT) business, aiming to enhance its growth engine [10]. Group 3: Investor Relations and Future Plans - The company is actively communicating with investors regarding potential compensation plans and is coordinating with courts on specific details related to investor lawsuits [8]. - A strategic cooperation framework has been established with the Cangnan County government to support various aspects of business development [9].

Core Viewpoint - The article discusses the ongoing investigation into Sichuang Medical (思创医惠) for alleged fraudulent activities related to securities issuance and financial misreporting, highlighting the company's past violations and current challenges in the market [3][4][6]. Summary by Sections Investigation and Allegations - On August 14, Sichuang Medical received a notice from the Hangzhou Public Security Bureau regarding the collection of evidence for a case involving alleged fraudulent securities issuance [3]. - The case is currently in the investigation stage, with no clear conclusions yet, and the company has committed to cooperating with the investigation and fulfilling its disclosure obligations [4]. Previous Violations - Sichuang Medical was previously investigated by the China Securities Regulatory Commission (CSRC) for information disclosure violations, leading to an administrative penalty issued by the Zhejiang Securities Regulatory Bureau on January 8, 2024 [6]. - The investigation revealed that the company had fabricated significant false information in its public bond issuance documents, resulting in inflated revenue and profits. Specifically, from 2017 to 2019, the company inflated its revenue by 34.93 million and profits by 33.02 million, which constituted 20.03% of the total profit for that period [6]. - For the period of January to September 2020, the company inflated its revenue by 60.96 million and profits by 52.37 million, accounting for 56.81% of the total profit for that period [6]. Financial Impact and Penalties - The Zhejiang Securities Regulatory Bureau imposed a fine of 85.7 million on Sichuang Medical and issued warnings to the company's former chairman and general manager, who also faced a fine of 7.5 million and a 10-year market ban [7]. - The company has experienced significant revenue declines and continuous losses due to intense industry competition and business adjustments, with no signs of improvement [7]. - As of August 2025, Sichuang Medical completed the divestiture of its 100% stake in its subsidiary, Medical Technology [7].

Group 1 - The core issue involves a fraud investigation against the company by the Hangzhou Public Security Bureau regarding the alleged fraudulent issuance of securities [1] - The company has previously been under investigation by the China Securities Regulatory Commission (CSRC) for information disclosure violations, leading to administrative penalties [3] - The company was found to have fabricated significant false information in its public bond issuance documents, resulting in inflated revenue and profits for the years 2019 and 2020 [3][4] Group 2 - The company was penalized with a fine of 85.7 million yuan and its former chairman and general manager received individual fines and a 10-year market ban [5] - The company has faced significant revenue declines and continuous losses due to intense industry competition and business adjustments [5] - The company completed the divestiture of its 100% stake in its subsidiary, Medical Technology Co., Ltd., in August 2025 [5]

Core Viewpoint - The company *ST Gao Hong is under investigation by the China Securities Regulatory Commission for fraudulent issuance of shares and false records in annual reports from 2015 to 2023, which may lead to mandatory delisting due to serious violations of regulations [1] Group 1 - The company's stock price has dropped over 12% cumulatively over three consecutive trading days (August 11, 12, and 13, 2025) [1] - The company has been placed under a delisting risk warning by the Shenzhen Stock Exchange starting from August 11, 2025 [1] - The investigation is based on the determination that the company's non-public offering of shares in 2020 constitutes fraudulent issuance [1] Group 2 - The annual reports from 2015 to 2023 have been found to contain false records, which may trigger significant legal consequences [1] - The company is at risk of being subjected to mandatory delisting as per the Shenzhen Stock Exchange's regulations [1] - The situation reflects serious compliance issues within the company that could impact investor confidence and market perception [1]

Core Viewpoint - *ST Gaohong is facing severe penalties from the China Securities Regulatory Commission (CSRC) due to fraudulent activities, including inflated revenue and profits from 2015 to 2023, which may lead to forced delisting from the Shenzhen Stock Exchange [1][20]. Group 1: Fraudulent Activities - The company engaged in fraudulent issuance of shares and inflated financial reports, with significant discrepancies in reported revenue and profits from 2015 to 2023 [1][2][20]. - Specific inflated figures include a total of 6.94 billion yuan in revenue for 2015, peaking at 56.34 billion yuan in 2020, and a total profit inflation of 2.19 billion yuan in 2020 [2][8]. Group 2: Regulatory Actions - The CSRC has proposed a total fine of 1.6 billion yuan against the company and involved parties, with individual penalties for key executives ranging from 100,000 to 750,000 yuan [4][17]. - The company is also facing a potential 10-year market ban for its chairman and the actual controller of a related trading company, while the financial director may face a 5-year ban [5][18]. Group 3: Impact on Company Operations - The fraudulent activities have led to a significant risk of delisting from the Shenzhen Stock Exchange, as the company’s actions violate multiple regulations [1][20]. - The company’s non-public stock issuance in 2020, which raised 1.25 billion yuan, is also under scrutiny for containing false information [9][15].

Core Viewpoint - *ST Gaohong faces significant risks of forced delisting due to nearly 20 billion yuan in financial fraud and fraudulent issuance, as indicated by the China Securities Regulatory Commission's (CSRC) administrative penalty notice [1][4][5] Group 1: Financial Fraud Details - From 2015 to 2023, *ST Gaohong inflated its revenue by a total of 198.76 billion yuan through various fraudulent activities, including fictitious trade operations [3][12] - The inflated profits over the same period amounted to 76.23 million yuan, with the highest annual inflation occurring in 2019, where approximately 50% of the revenue was fabricated [3][13] - The fraudulent activities were primarily facilitated by the company's major stakeholders, including Jiang Qing and his spouse, who controlled key suppliers and customers [12][13] Group 2: Role of Guoxin Securities - Guoxin Securities, as the sponsor and independent financial advisor for *ST Gaohong's 2020 private placement, failed to detect the extensive financial fraud over seven years, during which the fraud amount reached 187.47 billion yuan, accounting for 94.32% of the total fraud [2][6] - Despite having a legal obligation to conduct thorough due diligence, Guoxin Securities did not identify any anomalies in *ST Gaohong's financial reports or related documents [5][11] - The lack of oversight by Guoxin Securities during the critical years of 2015-2021 raises questions about their diligence and responsibility in safeguarding investor interests [11][12] Group 3: Regulatory Actions and Consequences - The CSRC plans to impose penalties exceeding 160 million yuan on *ST Gaohong and related parties, including a fine of 135 million yuan for the company [4][5] - The potential for criminal charges against key individuals involved in the fraud is also being considered by the CSRC [4][5] - Guoxin Securities has not yet faced any formal investigation or penalties, but the ongoing scrutiny may lead to future accountability [5][12]

Core Viewpoint - The regulatory authorities have imposed severe penalties on *ST Gaohong Network Co., Ltd. for engaging in financial fraud over nine years, inflating revenues by nearly 20 billion yuan [1][4]. Group 1: Financial Fraud Details - From 2015 to 2023, *ST Gaohong inflated its revenue by approximately 19.8 billion yuan and profits by over 76.2 million yuan through fictitious trade activities [2][3]. - The fraudulent activities involved a closed-loop system with no actual goods flow, organized by the actual controller of a trading company [2]. - The company used inflated financial statements to raise funds, constituting fraudulent issuance of shares [3]. Group 2: Regulatory Actions - The China Securities Regulatory Commission (CSRC) plans to impose a fine of 135 million yuan on *ST Gaohong and an additional 26.75 million yuan on nine involved executives [4]. - The chairman and former general manager, Fu Jinglin, faces a dual penalty of 7.5 million yuan and a 10-year market ban [4]. - The CSRC has indicated that *ST Gaohong may face mandatory delisting due to serious violations, including fraudulent issuance of shares and false financial reporting [4][5]. Group 3: Industry Implications - The crackdown on *ST Gaohong reflects a zero-tolerance policy towards securities violations, aiming to maintain market order and protect investor rights [1][7]. - The regulatory environment has intensified, with an increase in criminal accountability for financial fraud among listed companies [7].

Core Viewpoint - The article discusses the legal actions taken against Gel Software and other parties involved in the fraudulent issuance and information disclosure violations related to Zeda Yisheng Technology Co., Ltd, highlighting the financial implications and the ongoing litigation process [2][4]. Group 1: Legal Proceedings - On August 12, Gel Software announced that it, along with 38 other defendants, is being sued for a total of approximately 37,227.26 million yuan across three cases related to fraudulent issuance and information disclosure violations [2]. - The three cases involve claims of 12,345.51 million yuan, 21,533.20 million yuan, and 3,348.55 million yuan respectively, with the total amount claimed being 37,227.26 million yuan [2]. - The plaintiffs include Dongxing Securities, Tianjian Accounting Firm, and Beijing Kangda Law Firm, all of which were intermediaries in Zeda Yisheng's initial public offering [4]. Group 2: Background and Financial Impact - In April 2023, Zeda Yisheng was penalized by the China Securities Regulatory Commission for fraudulent issuance and information disclosure violations, leading to investor lawsuits against Zeda Yisheng and its intermediaries [4]. - Following the penalties, Dongxing Securities, Tianjian Accounting, and Kangda Law Firm collectively paid approximately 493 million yuan to investors and the regulatory authority, prompting them to seek recovery of these costs through litigation against other involved parties [4]. - Gel Software's involvement stems from business transactions with Zeda Yisheng in 2018 and 2020, which were later found to lack commercial substance during a self-examination process [4].