Group 1 - Fuzhou Dahua Intelligent Technology Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [1] - As of August 1, 66 listed companies have announced investigations related to themselves or their affiliates this year, with 50 companies (75.76%) being investigated for information disclosure violations [1] - There are 5 companies explicitly investigated for financial fraud, marking a shift in regulatory focus compared to previous years [1] Group 2 - Recent investigations have increased transparency, allowing investors to better assess risks associated with listed companies and adjust their investment decisions accordingly [2] - Regulatory scrutiny has intensified on delisted companies, with 5 companies being investigated this year after delisting, primarily for information disclosure violations [2]

Group 1 - Fuzhou Dahua Intelligent Technology Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [1] - As of August 1, 66 listed companies have announced investigations, with 50 of them (75.76%) related to suspected information disclosure violations [1] - There are 5 companies explicitly investigated for financial fraud this year, marking a shift in regulatory focus [1] Group 2 - Recent investigations allow investors to better assess risks associated with listed companies, promoting informed investment decisions [2] - Regulatory authorities have emphasized strict oversight of delisted companies, with 5 companies investigated post-delisting this year [2] - Among the delisted companies, one was investigated for failing to disclose its 2024 annual report on time, while four others faced inquiries for suspected information disclosure violations [2]

值得关注的是，2024年2月5日，太和水发布关于收到中国证券监督管理委员会上海监管局《行政处罚决定书》的公告。 公司参股公司26家，包括崇仁县巴和食品饮料有限公司、江西桑榆文化传媒有限公司、海南太和水食品饮料有限公司、上海太和水食品饮料有限 公司、黑龙江海赫饮品有限公司等。 经查明，太和水存在以下违法事实：2017年起，太和水在江西省抚州市承做梦湖及凤岗河水生态治理项目，太和水未审慎考虑凤岗河项目的治理 争议对收入确认的影响，未按照《企业会计准则第15号--建造合同》(财会[2006]3号)第十八条、第二十一条的规定恰当估计凤岗河项目的完工进 度，虚增2018年收入798.96万元，同时，太和水2018年虚增收入形成的应收账款一直存续并每年计提坏账准备，导致公司公开披露的2018年、 2019年年度财务报表以及2020年、2021年、2022年年度财务报告中的坏账准备、利润总额不准确。 本案违法行为跨越新旧法，根据当事人违法行为的事实、性质、情节与社会危害程度，依据《证券法》第一百九十七条第二款的规定，上海证监 局决定：对太和水责令改正，给予警告，并处以一百五十万元罚款；对何文辉给予警告，并处以七十五万元罚款 ...

记者丨崔文静 编辑丨黄剑 据科创板上市公司力源科技7月29日晚间公告，其实控人沈万中因犯违规披露重要信息罪被判 处有期徒刑1年，缓刑1年6个月，并处罚金330万元。 力源科技财务造假出现在2021年，当年年报虚增营业收入1.04亿元、虚增利润总额0.27亿元。 同年半年报、三季报亦存在业绩虚增行为。 造假仅持续一年，源于监管发现问题及时。从力源科技2022年4月第一次披露存在虚假记载的 2021年年报到浙江证监局向其下发警示函，只有5个月。次年1月，证监会即正式对其展开立案 调查，并于5个月后作出行政处罚。 监管高效、行政刑事双重严惩，是力源科技案的两大特点。当前，行政处罚在前、刑事处罚紧 随其后、民事赔偿随之而至，已经成为造假上市公司的严惩"标配"。"首恶"被追究刑事责任的 比例有所提升，行政、刑事处罚间隔时间也进一步缩短，这是严监管力度加大与执法效率提升 的重要体现。 判刑1年，罚金3 3 0万元 7月29日晚间，力源科技发布公告称，实控人沈万中因犯违规披露重要信息罪，被上海市第二 中级人民法院判处有期徒刑1年，缓刑1年6个月，并处罚金330万元。同时，沈万中已辞去力源 科技董事长、董事职务，也不再担任这 ...

Core Viewpoint - Liyuan Technology has become the sixth listed company this year to face criminal charges due to financial fraud, highlighting the effectiveness of regulatory measures and the dual punishment system in place for financial misconduct [1][10]. Group 1: Company Overview - Liyuan Technology, established in 1999, specializes in aluminum alloy precision die-casting products and was listed on May 13, 2021 [5]. - The company's actual controller, Shen Wanzhong, was sentenced to one year in prison with a probation period of one and a half years and fined 3.3 million yuan for the crime of disclosing important information in violation of regulations [2][3]. Group 2: Financial Fraud Details - The financial fraud at Liyuan Technology occurred in 2021, where the annual report inflated operating income by 104 million yuan and total profit by 27 million yuan, representing 24.71% and 68.23% of the disclosed amounts, respectively [2][5]. - The fraud was identified within a year, with the Zhejiang Securities Regulatory Bureau issuing a warning letter just five months after the company disclosed its fraudulent annual report [1][5]. Group 3: Regulatory Response - The regulatory response to Liyuan Technology's fraud was characterized by swift administrative and criminal penalties, with the administrative punishment occurring first, followed by criminal charges [1][10]. - The efficiency of the investigation and the timely discovery of the fraud were crucial factors in the short duration of the fraudulent activities, which lasted only one year [5][6]. Group 4: Industry Implications - Liyuan Technology's case is part of a broader trend, as it is the sixth company in July alone to face criminal charges for financial misconduct, indicating a tightening regulatory environment [8][9]. - The regulatory authorities are enhancing the connection between administrative investigations and criminal prosecutions, leading to an increase in the proportion of criminal charges against the primary offenders in financial fraud cases [10].

Core Viewpoint - The cost of violations in the A-share market has increased, highlighted by the sentencing of the actual controller of Liyuan Technology, Shen Wanzhong, for financial fraud [1][3][4]. Group 1: Legal and Financial Consequences - Shen Wanzhong was sentenced to one year in prison, with a one and a half year probation, and fined 3.3 million yuan for the crime of disclosing important information in violation of regulations [1][4]. - The company and several executives were previously penalized by the China Securities Regulatory Commission (CSRC), with Shen Wanzhong receiving a warning and a fine of 3 million yuan [1][7]. - Liyuan Technology faced administrative penalties for financial misconduct, including the premature recognition of revenue and misclassification of expenses [5][6]. Group 2: Company Performance and Recovery - Liyuan Technology reported consecutive losses in 2022 and 2023, but turned a profit in 2024 with a net profit of 2.54 million yuan [1][14]. - In the first quarter of 2025, the company continued to maintain profitability with a net profit of 288.73 thousand yuan, attributed to improved collection of accounts receivable and reversal of bad debt provisions [2][14]. - The company’s revenue in 2024 was 374 million yuan, showing signs of recovery after previous declines [14]. Group 3: Management Changes - Following Shen Wanzhong's sentencing, he resigned as chairman, and his daughter, Shen Jiawen, was nominated as a director, indicating a generational shift in management [1][14]. Group 4: Industry Position and Technology - Liyuan Technology specializes in water treatment systems and has achieved import substitution in key areas such as nuclear power and seawater desalination systems [12][13]. - The company has developed core technologies in hydrogen fuel cell engine systems, contributing to its competitive position in the market [12].

Core Viewpoint - The company, Liyuan Technology, is facing significant legal and governance challenges due to the conviction of its actual controller, Shen Wanzhong, for the crime of disclosing important information in violation of regulations, resulting in a prison sentence and fines [1][7]. Group 1: Legal Issues and Governance Changes - Shen Wanzhong was sentenced to one year in prison, with a one and a half year probation, and fined 3.3 million yuan for violating information disclosure regulations [1]. - Following his conviction, Shen Wanzhong submitted his resignation as chairman and director of the company, and will not hold any other positions within the company [1][7]. - The board of directors has nominated Shen Jiawen, Shen Wanzhong's daughter, as a candidate for a non-independent director position [1][7][8]. Group 2: Company Background and Operations - Liyuan Technology specializes in the research, design, and integration of water treatment systems for various industries, including nuclear power, thermal power, metallurgy, and chemicals [3]. - The company has developed core technologies in hydrogen fuel cell engine systems and has achieved commercial delivery of several products [3]. - Liyuan Technology is one of the few suppliers capable of providing condensate water treatment systems for nuclear power plants, including the "Hualong One" project [3]. Group 3: Financial Misconduct and Regulatory Actions - The company was found to have engaged in financial misconduct, including premature revenue recognition and improper expense reporting, leading to regulatory scrutiny [4][5]. - In 2023, the China Securities Regulatory Commission initiated an investigation into Liyuan Technology for suspected violations of information disclosure laws [4]. - The Zhejiang Securities Regulatory Bureau imposed fines totaling 3 million yuan on the company and its executives for their roles in the financial misconduct [5].

Core Viewpoint - The company, Liyuan Technology, is facing significant legal and governance challenges due to the conviction of its actual controller, Shen Wanzhong, for the crime of illegally disclosing important information, resulting in a prison sentence and fines [1][8]. Group 1: Legal Issues and Governance Changes - Shen Wanzhong was sentenced to one year in prison, with a one and a half year probation, and fined 3.3 million yuan for violating information disclosure laws [1]. - Following his conviction, Shen Wanzhong submitted his resignation as chairman and director of the company, and will not hold any other positions within the company [1]. - The board of directors has nominated Shen Jiawen, Shen Wanzhong's daughter, as a candidate for a non-independent director position [1][8]. Group 2: Company Background and Operations - Liyuan Technology specializes in the research, design, and integration of water treatment systems for various industries, including nuclear power, thermal power, metallurgy, and chemicals [3]. - The company has developed core technologies for hydrogen fuel cell engine systems and has achieved commercial delivery of several products [3]. - Liyuan Technology is one of the few suppliers capable of providing condensate water treatment systems for nuclear power plants, including the "Hualong One" project [3]. Group 3: Financial Misconduct and Regulatory Actions - The company has been implicated in financial misconduct, including premature revenue recognition and misreporting of research and development expenses [4][5]. - In 2023, the China Securities Regulatory Commission initiated an investigation into Liyuan Technology for suspected violations of information disclosure laws [5]. - The Zhejiang Securities Regulatory Bureau imposed fines totaling 3 million yuan on the company and its executives for their roles in the financial misconduct [6].

Core Viewpoint - The company, Liyuan Technology, is facing significant legal and governance challenges following the conviction of its actual controller, Shen Wanzhong, for the crime of disclosing important information in violation of regulations, leading to his resignation as chairman and director [1][6]. Group 1: Legal Issues and Governance Changes - Shen Wanzhong was sentenced to one year in prison, with a one and a half year probation, and fined 3.3 million yuan for violating information disclosure regulations [1][6]. - Following his conviction, Shen Wanzhong submitted his resignation from the company's board, and his daughter, Shen Jiawen, has been nominated as a candidate for a non-independent director position [1][7]. - The company has been under scrutiny for financial misconduct, including premature revenue recognition and inflated profit figures, leading to regulatory actions from the Zhejiang Securities Regulatory Bureau [4][5]. Group 2: Company Operations and Market Position - Liyuan Technology specializes in water treatment systems for various industries, including nuclear power and hydrogen fuel cell systems, and has achieved significant technological advancements in these areas [3]. - The company has successfully commercialized its hydrogen energy engine systems and has been involved in major nuclear power projects, including the "Hualong One" nuclear reactor [3][4]. - Despite the ongoing legal issues, the company claims that the management and operational activities will not be significantly affected by the recent developments [6].

Core Viewpoint - The article discusses the legal issues faced by Zhejiang Haiyan Liyuan Environmental Protection Technology Co., Ltd. and its actual controller, Shen Wanzhong, including a criminal conviction for the crime of disclosing important information in violation of regulations, resulting in a prison sentence and fines [1][4]. Summary by Sections Legal Issues - On July 29, 2025, the company announced that it received a criminal judgment from the Shanghai Second Intermediate People's Court, sentencing Shen Wanzhong to one year in prison, suspended for one and a half years, and imposing a fine of 3.3 million RMB for the crime of violating important information disclosure regulations [1]. - Shen Wanzhong was previously released on bail and had resigned from his positions as general manager and chairman of the company on March 28, 2024, due to the ongoing investigation [4][6]. Company Background - Shen Wanzhong, born in 1967, holds a bachelor's degree and has served as the chairman and general manager of the company since its listing on the Sci-Tech Innovation Board on May 13, 2021 [3]. Shareholding Structure - Shen Wanzhong directly holds 48,062,000 shares, accounting for 32.10% of the company's total share capital, making him the controlling shareholder and actual controller [5]. Financial Misconduct - The company and Shen Wanzhong were fined 3 million RMB each for financial fraud in 2021, where the company was found to have inflated revenue and profit figures through premature recognition of project progress [8]. - The Zhejiang Securities Regulatory Bureau identified that the company inflated its reported revenue by approximately 103.84 million RMB and profit by about 27.07 million RMB in its 2021 annual report, which represented 24.71% and 68.23% of the disclosed amounts, respectively [8][9]. Accountability - The regulatory body determined that Shen Wanzhong, as the then chairman and general manager, was directly responsible for the company's violations, failing to ensure the accuracy and completeness of financial reports [9].