Core Viewpoint - *ST Dongtong (300379.SZ) is facing severe penalties for financial fraud, with the China Securities Regulatory Commission (CSRC) proposing a fine of 229 million yuan and initiating delisting procedures due to significant violations of securities laws [1][2]. Financial Misconduct - From 2019 to 2022, *ST Dongtong inflated its revenue by a total of 432 million yuan and profits by 314 million yuan through fictitious business activities and premature revenue recognition [2][3]. - The inflated revenues represented 12.29%, 13.25%, 14.54%, and 17.68% of the reported revenues for the respective years, while the inflated profits accounted for 34.11%, 22.72%, 30.35%, and 219.43% of the reported profits [2]. Administrative Actions - The CSRC has issued a notice of administrative penalties, proposing fines of 229 million yuan for the company and 44 million yuan for seven responsible individuals, with the actual controller facing a 10-year ban from the securities market [1][3]. - The company’s actual controller, Huang Yongjun, is directly responsible for the fraudulent activities and has been under investigation for violations of information disclosure laws [3]. Company Background - Established in August 1997 and listed in January 2014, *ST Dongtong is a provider of security and industry information solutions, offering middleware, network security, and digital products [4]. - The company has reported continuous losses from 2022 to 2024, with a net loss of 55.16 million yuan in the first half of this year [4].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced administrative penalties against Beijing Orient Telecom Technology Co., Ltd. for suspected false reporting of financial data, indicating serious violations of securities laws and regulations [1] Group 1: Company Violations - *ST Dongtong has inflated revenue and profits for four consecutive years, violating securities laws and regulations [1] - The CSRC plans to impose a fine of 229 million yuan on the listed company and a total of 44 million yuan on seven responsible individuals [1] - The actual controller of *ST Dongtong will face a 10-year ban from the securities market [1] Group 2: Regulatory Actions - The company is suspected of triggering significant illegal activities that may lead to mandatory delisting, prompting the Shenzhen Stock Exchange to initiate delisting procedures [1] - The CSRC will transfer any potential criminal evidence to the public security authorities in accordance with legal standards [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative punishment against Beijing Dongfangtong Technology Co., Ltd. (*ST Dongtong*) for falsifying financial data over four consecutive years, leading to potential delisting from the Shenzhen Stock Exchange [1][2]. Group 1: Company Actions and Penalties - *ST Dongtong* is facing a fine of 229 million yuan for the company and a total of 44 million yuan for seven responsible individuals, with the actual controller facing a 10-year ban from the securities market [1]. - The CSRC has initiated delisting procedures for *ST Dongtong* due to serious violations, including fraudulent issuance of stocks in 2022 [1][2]. - The company’s chairman, Huang Yongjun, has been fined 26.5 million yuan and banned from the securities market for 10 years for his role in the violations [2]. Group 2: Financial Misconduct Details - From 2019 to 2022, *ST Dongtong* inflated its revenue and profits through fictitious business activities and premature revenue recognition via its wholly-owned subsidiary, Beijing Taice Technology Co., Ltd. [2]. - The company’s 2019 to 2022 annual reports contained false financial data, which was also referenced in its 2022 fundraising prospectus, constituting fraudulent issuance [2]. Group 3: Industry Context and Regulatory Response - The capital market has seen stringent actions against financial fraud, with significant penalties imposed on other companies and individuals involved in similar misconduct, reflecting a tough regulatory stance [3]. - The regulatory environment is evolving to create a comprehensive deterrent system against financial fraud, aiming to protect investor interests and maintain market integrity [3].

Core Viewpoint - Yili Clean Energy Co., Ltd. faces significant penalties for financial fraud and other violations, highlighting the regulatory stance that "delisting does not equate to exemption" from accountability [1][2][3] Group 1: Regulatory Actions - The Inner Mongolia Securities Regulatory Bureau plans to impose a total fine of 375 million yuan on Yili Clean Energy and its controlling shareholder, Yili Resource Group, for various violations from 2016 to 2023 [1][2] - The penalties include 210 million yuan for Yili Clean Energy and 30 million yuan for Yili Resource Group, with additional market bans for seven individuals involved [2][3] - Since the beginning of 2024, the China Securities Regulatory Commission has investigated 67 delisted companies, with 46 receiving final administrative penalties totaling 1.246 billion yuan [3] Group 2: Impact on the Market - The consistent enforcement of penalties against delisted companies is seen as a crucial step towards transforming the capital market, promoting better governance among listed companies [4] - The regulatory approach aims to deter companies from engaging in fraudulent activities and to protect investors' rights, thereby enhancing market integrity [4] - The recent actions against Yili Clean Energy and similar cases are expected to foster a healthier market environment, encouraging a cycle of "survival of the fittest" [4]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative penalty against Beijing Dongfangtong Technology Co., Ltd. (*ST Dongtong) for falsifying financial data over four consecutive years, leading to a proposed fine of 229 million yuan and a potential delisting from the Shenzhen Stock Exchange due to serious violations [1][2][3]. Financial Misconduct - *ST Dongtong has been found to have inflated revenue and profits from 2019 to 2022 through fictitious transactions and premature revenue recognition, resulting in false disclosures in its annual reports [3][4]. - The company reported significant losses in recent years, with net profits of -673 million yuan in 2023 and -576 million yuan in 2024, continuing to incur losses in the first half of 2023 with a net profit of -55 million yuan [2][3]. Regulatory Actions - The CSRC plans to impose a total fine of 273 million yuan, including 229 million yuan on the company and 44 million yuan on seven responsible individuals, alongside a 10-year market ban for the actual controller [1][4]. - This incident marks the 12th company this year facing potential delisting due to financial fraud, indicating a heightened regulatory crackdown on such misconduct [1][2]. Market Impact - Following the announcement of the investigation in April, *ST Dongtong's stock price plummeted, reaching a low of 4.13 yuan per share, with a maximum decline exceeding 70% [2]. - The number of shareholders decreased by 13,300 in the second quarter of 2023, reflecting a loss of investor confidence [2]. Legal and Compliance Framework - The new regulatory framework emphasizes a comprehensive accountability system for financial fraud, including civil and criminal liabilities for responsible parties [6][7]. - The CSRC has committed to transferring any criminal evidence to law enforcement, reinforcing the seriousness of financial misconduct [6][8].

9月12日，退市公司亿利洁能股份有限公司(以下简称"亿利洁能")发布公告称，公司收到内蒙古证监局 行政处罚事先告知书。告知书显示，因公司涉嫌在2016年至2023年期间存在财务造假、关联担保、资金 占用等导致的信息披露违法行为及欺诈发行债券行为，控股股东存在组织、指使亿利洁能从事上述行 为，内蒙古证监局拟对公司、公司控股股东及29名相关责任人处以3.75亿元罚款，并对相关责任人员采 取市场禁入等措施。 亿利洁能被行政处罚早有迹象。在公司退市前，2024年6月份，亿利洁能被证监会立案调查。同年7月 份，亿利洁能因连续20个交易日的每日股票收盘价均低于1元被上海证券交易所决定终止上市并摘牌。 公司虽然以交易类退市程序而退市，但依然要为其持续多年的证券违法行为付出代价。 南开大学金融学教授田利辉表示，对退市公司处罚常态化是资本市场迈向质变的关键一步。对上市公司 而言，将倒逼其规范运作，杜绝"带病上市"；对投资者而言，强化了"买者自负"下的公平保障；对市场 而言，净化了市场生态，推动"能进能出、优胜劣汰"的良性循环。 据记者了解，监管部门将持续按照《关于严格执行退市制度的意见》《关于进一步做好资本市场财务造 假综合惩 ...

Core Viewpoint - Yili Clean Energy (formerly known as Yili Clean Energy) and its controlling shareholder, along with 29 related responsible persons, have been fined 375 million yuan by the Inner Mongolia Securities Regulatory Bureau for financial fraud, related guarantees, and fund occupation from 2016 to 2023 [2][12]. Financial Misconduct - From 2016 to 2022, Yili Clean Energy and its subsidiaries inflated profits, assets, and revenues through various fraudulent activities, resulting in total profit inflation of 192.89 million yuan, 530.31 million yuan, 276.30 million yuan, 351.91 million yuan, 358.37 million yuan, 826.85 million yuan, and a loss of 128 million yuan, which represented 3.76%, 6.18%, 2.15%, 2.79%, 4.88%, 9.37%, and -12.77% of the reported profit totals for those years [4][5]. - The company also inflated assets by 700 million yuan, 696 million yuan, 3.115 billion yuan, 2.808 billion yuan, 3.026 billion yuan, and 703 million yuan from 2016 to 2021, which accounted for 3%, 2.38%, 8.49%, 8.14%, 8.31%, and 2.06% of the reported total assets [4][6]. Related Guarantees - Between 2017 and 2021, Yili Clean Energy provided guarantees to its controlling shareholder and related parties, with amounts of 850 million yuan, 1.95 billion yuan, 3.01 billion yuan, 2.112 billion yuan, and 1.562 billion yuan, representing 8.12%, 12.38%, 17.22%, 11.50%, and 8.18% of the latest audited net assets [6]. Fund Occupation - From 2016 to 2023, Yili Clean Energy and its subsidiaries occupied funds through various means, with amounts of 700.1 million yuan, 2.409 billion yuan, 2.835 billion yuan, 1.712 billion yuan, and 200 million yuan, which represented 6.89%, 23.00%, 18.00%, 9.79%, and 1.09% of the latest audited net assets [8]. - By the end of 2023, the occupied balance was 4.505 billion yuan, which accounted for 23.51% of the reported net assets [9]. Fraudulent Bond Issuance - Yili Clean Energy issued bonds in April and July 2020, with a total issuance scale of 1 billion yuan, using fraudulent financial data from previous years, constituting a fraudulent issuance of bonds [11]. Regulatory Actions - The company received a notice of administrative punishment from the China Securities Regulatory Commission (CSRC) and was delisted due to continuous stock prices below 1 yuan for 20 trading days [13]. - The CSRC has intensified its crackdown on financial fraud and misconduct among delisted companies, with a total of 67 companies penalized, amounting to 1.246 billion yuan in fines [12][14].

*ST广道9月12日晚发布公告，公司当日收到中国证监会《行政处罚决定书》。公司同日公告，已触及 《北京证券交易所股票上市规则》规定的重大违法强制退市情形，将被实施重大违法强制退市。公司股 票自9月15日起停牌。 《决定书》称，广道数字（即*ST广道）构成信息披露违法行为。金文明作为公司控股股东、实际控制 人，组织、指使公司从事信息披露违法行为，违反证券法相关条款。要求公司责令改正，给予警告，并 处以1000万元罚款；对金文明给予警告，并处以1500万元罚款，其中作为直接负责的主管人员罚款500 万元，作为控股股东、实际控制人罚款1000万元。 《决定书》显示，广道数字财务负责人、董事会秘书赵璐，副总经理宋凯等其他多位当事人，也被处以 50万元到500万元不等的罚款。此外，鉴于金文明、赵璐组织、指使公司从事信息披露违法行为，严重 扰乱证券市场秩序，依据证券法有关规定，还对金文明、赵璐分别采取终身证券市场禁入措施。 连续多年财务造假 2024年12月4日，广道数字被证监会立案调查。《决定书》称，经查明，广道数字存在以下违法事实： 广道数字通过制作虚假购销合同、发票、银行回单、发货通知单及入库单等方式虚构销售和采购 ...

公告显示，因涉嫌定期报告等财务数据存在虚假记载，*ST东通于2025年4月14日被证监会立案。根据 《行政处罚事先告知书》，*ST东通2019年至2022年度报告存在虚假记载，4年间累计虚增利润3.14亿 元，公司2022年向特定对象发行股票构成欺诈发行。公司可能被实施重大违法强制退市。 2018年12月，*ST东通收购泰策科技100%股权，泰策科技成为东方通全资子公司。2019年至2022年期 间，*ST东通通过泰策科技虚构业务、提前确认收入等方式虚增收入、利润，导致东方通披露的2019年 至2022年年度报告存在虚假记载。*ST东通2019年至2022年分别虚增收入6145.10万元、8485.06万元、 1.26亿元、1.6亿元，分别占公司当期披露营业收入的12.29%、13.25%、14.54%、17.68%；2019年至 2022年分别虚增利润5222.79万元、5877.42万元、7948.22万元、1.24亿元，分别占公司当期披露利润总 额的34.11%、22.72%、30.35%、219.43%。 根据《行政处罚事先告知书》，证监会拟处罚的对象不只是*ST东通时任董事长黄永军等，还包括泰策 科 ...

Core Viewpoint - Yili Clean Energy (formerly known as Yili Clean Energy) and its controlling shareholder, along with 29 related responsible persons, have been fined 375 million yuan by the Inner Mongolia Securities Regulatory Bureau for financial fraud, related guarantees, and fund occupation from 2016 to 2023 [2][9]. Financial Misconduct - From 2016 to 2022, Yili Clean Energy and its subsidiaries inflated profits, assets, and revenues through various fraudulent activities, resulting in total profit inflation of 192.89 million yuan in 2016, 530.31 million yuan in 2017, and so on, with the inflated profits constituting 3.76% to 9.37% of the reported total profits for those years [3][4]. - The company also inflated assets by 700 million yuan to 3.026 billion yuan from 2016 to 2021, which represented 2.06% to 8.49% of the reported total assets [3][5]. Related Guarantees - Yili Clean Energy provided guarantees to its controlling shareholder and related parties from 2017 to 2021, with amounts ranging from 850 million yuan to 3.010 billion yuan, constituting 8.12% to 17.22% of the latest audited net assets [5][6]. Fund Occupation - Between 2016 and 2023, Yili Clean Energy occupied funds through various means, with amounts ranging from 700 million yuan to 2 billion yuan annually, representing 1.09% to 23% of the latest audited net assets [7][8]. Fraudulent Bond Issuance - The company issued bonds in April and July 2020, with a total scale of 1 billion yuan, using financial statements that contained false records and significant omissions, constituting fraudulent issuance [8]. Regulatory Actions - Following the violations, Yili Clean Energy received a notice of administrative punishment and was investigated by the China Securities Regulatory Commission, leading to its delisting due to stock prices falling below 1 yuan for 20 consecutive trading days [9][10].