Group 1 - The core point of the news is that *ST Oriental (600811.SH) has been decided to be delisted by the Shanghai Stock Exchange due to serious financial misconduct, with the delisting date set for April 30, 2025 [1] - The company inflated its revenue by a total of 16.13 billion yuan and its costs by 16.073 billion yuan from 2020 to 2023, which accounted for 13.56% to 50.44% of its revenue during those periods [1] - The company has reported significant losses over the years, with net profits of -1.719 billion yuan, -996 million yuan, and -1.557 billion yuan from 2021 to 2023, totaling over 4.2 billion yuan in losses, and an expected loss of 800 million to 1.2 billion yuan in 2024 [1] Group 2 - On March 16, 2023, *ST Oriental was subjected to a major illegal forced delisting, leading to a continuous drop in stock prices after resumption of trading [2] - The chairman Zhang Hongwei was fined 10 million yuan and banned for life from the securities market, while seven other responsible individuals were fined a total of 29 million yuan [2] - As of September 30, 2022, nearly 130,000 shareholders were affected by the company's financial issues [2] Group 3 - Wu Xiaoqiu, a prominent figure in China's financial research, emphasized the need for *ST Oriental to serve as a cautionary case similar to the Enron scandal in the U.S., advocating for severe penalties against the company [4] - He called for the company to face extreme financial penalties and imprisonment for those responsible, highlighting the importance of accountability in the market [4]

深交所决定终止ST普利股票及可转债上市，这一决策意味着ST普利将彻底告别证券交易所的交易舞台。公司股票及可转债进入退市整理期，起始日为 2025年4月28日，时长十五个交易日，预计最后交易日期为2025年5月21日。 2025年4月18日晚间，*ST普利发布公告，称公司于当日收到深交所《关于海南普利制药股份有限公司股票及可转换公司债券终止上市的决定》。 | 证券代码:300630 | 证券简称:*ST 普利 | 公告编号:2025-044 | | --- | --- | --- | | 债券代码:123099 | 债券简称:普利转债 | | 值得关注的是，目前普利制药显示长期停牌，这源于其严重的财务造假问题。2025年1月4日，公司收到中国证监会《行政处罚事先告知书》，被指在 2021-2022年间，通过虚构成品药、原料药销售业务及不合理贸易业务核算方式，虚增收入与利润，致使这两年年度报告严重虚假。 随后（1月6日），普利制药股票停牌一天；1月7日起，公司被实施重大违法强制退市风险警示，股票简称变更为"*ST普利"。3月21日，证监会表明对严 重财务造假主体将全方位追责，同日深交所依规启动其股票终止上市程序。 ...

星标 ★ IPO日报 精彩文章第一时间推送 4月18日晚间，海南普利制药股份有限公司（300630.SZ，以下简称"*ST普利"或"普利制药"）发布公告，公司于2025年4月18日收到深交 所《关于海南普利制药股份有限公司股票及可转换公司债券终止上市的决定》。深圳证券交易所决定终止公司股票及可转债上市。 公司股票及可转债进入退市整理期的起始日为2025年4月28日，退市整理期为十五个交易日，预计最后交易日期为2025年5月21日。 制图：佘诗婕 虚增利润近7亿 今年3月，上市公司发布公告称，收到证监会行政处罚决定书。 2021年至2022年，普利制药通过虚构成品药和原料药销售业务的方式，虚假确认药品销售收入和利润。 其中，2021年多计营业收入 436004495.01元，占当年披露营业收入的28.90%，对应营业成本128197101.98元，多计利润总额290175562.61元，占当年披露利润 总额的 62.06% ；2022年多计营业收入455776233.78元，占当年披露营业收入的25.23%，对应营业成本69013203.17元，多计利润总 额 379066467.07元，占当年披露利润总额的8 ...

| 项目 | 本报告期 | 上年同期 | | --- | --- | --- | | 归属于上市公司 股东的净利润 | 亏损:43,200 万元-53,700 万元 | 亏损:67,278 万元 | | 扣除非经常性损 益后的净利润 | 亏损:46,921 万元-57,421 万元 | 亏损:70.133 万元 | | 营业收入 | 72,500 万元一81,500 万元 | 55,679 万元 | | 扣除后营业收入 | 71,500 万元-80,500 万元 | 54,380 万元 | 东方通称，2024年度公司持续推进市场拓展工作，同时降本增效初见成效，报告期亏损同比收窄约 20%-36%；若不考虑商誉减值计提因素，公司亏损收窄金额预计为1.74亿元至 2.09亿元，较上年同期亏 损收窄约60%-72%。 值得注意的是，2022年和2023年，东方通实现归属净利润分别约为-3936.65万元、-6.73亿元。 截至4月14日收盘，东方通报14.99元每股，收涨1.42%，总市值83.63亿元。 （文章来源：新华财经） 东方通称，若后续经中国证监会行政处罚认定的事实，触及《深圳证券交易所创业板股票上市规则 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed strict penalties on Hainan Puli Pharmaceutical Co., Ltd. for significant false reporting in its annual reports for 2021 and 2022, leading to a forced delisting process due to violations exceeding 50% of reported profits [3][5]. Group 1: Regulatory Actions - The CSRC announced administrative penalties against Puli Pharmaceutical for major false records in its annual reports, with a total profit inflation exceeding 500 million yuan over two years [3]. - The Shenzhen Stock Exchange has initiated the process for the termination of Puli's stock listing due to these violations [3][5]. - The company has issued 11 risk warning announcements since the initial notice of administrative penalties [5]. Group 2: Financial Misconduct - Puli Pharmaceutical inflated its revenue by 1.03 billion yuan, accounting for 31.08% of the total reported revenue over the two years [6]. - The inflated profit totaled 695 million yuan, representing 76.72% of the total reported profit for the same period [6]. - In 2021, the profit inflation was 308 million yuan, which was 65.88% of the reported profit for that year, while in 2022, it was 387 million yuan, making up 88.27% of the reported profit [6]. Group 3: Legal and Financial Implications - The CSRC has imposed a total fine of 24.2 million yuan on the company and six responsible individuals, with significant penalties including a 5 million yuan fine and a 10-year market ban for one individual [6]. - A lawsuit involving investors against Puli Pharmaceutical and its accounting firm is scheduled for April 9, 2024, with potential civil compensation for affected investors [6]. - The company currently has over 2 billion yuan in interest-bearing liabilities, facing increased repayment pressure following the delisting [7].

作 者丨杨坪 编 辑丨张伟贤 刘雪莹 刚 刚 ， 东 方 集 团 发 布 风 险 提 示 公 告 ， 今 日 （ 3 月 1 2 日 ） 公 司 股 价 盘 中 大 幅 上 涨 ， 股 价 波 动 较 大 。 公 司 预 计 将 触 及 重 大 违 法 强 制 退 市 情 形 ， 存 在 不 符 合 重 整 条 件 的 风 险 ， 敬请广大投资者理性投资，并注意投资风险。 二级市场上，东方集团1 2日以跌停价开盘，突然被涌入的买盘瞬间拉升至涨停板， 走出"地天 板"， 超1 0 0多万手买单封在涨停板。 此前，在连续四年重大财务造假被证监会通报后，东方 集团已连续7个交易日的一字跌停。 3 月 1 2 日 早 盘，A 股 震 荡 调 整，三 大 指 数 涨 跌 不 一 。 沪 深 两 市 半 日 成 交 额 1 万 亿，较 上 个 交 易 日 放 量 7 9 0 亿 。 东方集团退市危机"始末" 根据中国证监会发布的阶段性调查进展情况，现已初步查明，东方集团披露的2 0 2 0年至2 0 2 3 年财务信息严重不实，涉嫌重大财务造假，可能触及重大违法强制退市情形。 亏损额或远超4 2亿元 提到东方集团，很多人 ...

重大退市风险面前突然来了一个涨停板！ 在东方集团连续跌了七个跌停板之后，今天早上亦一度跌停，并跌破1元/股，但随后股价快速拉升涨停，上演"地天 板"走势，截至上午收盘，成交额超8亿元。 然而就在此时，该股罕见地于中午发布风险提示公告称，预计将触及重大违法强制退市情形，请广大投资者理性投 资。与此同时，还表示，公司存在不符合重整条件的风险。 7个跌停之后突现地天板 今天上午，A股市场再现惊人一幕。此前连续7天跌停的东方集团，今天早上亦一度跌停，但随后被快速拉起封死涨 停，股价实现地天板，涨停板封单达到了惊人的158万手。 中国证监会于 2025年2月28日通报了东方集团财务造假案阶段性调查进展情况，现已初步查明，东方集团披露 的 2020 年至 2023年财务信息严重不实，涉嫌重大财务造假。上述查明事实显示，公司预计将触及《上海证券交易 所股票上市规则》规定的连续多年财务造假等重大违法强制退市情形。随后，公司股价连续跌停。 去年6月20日，因涉嫌信息披露违法违规，根据相关法律法规，证监会对东方集团立案。随后东方集团多次发布关于 立案调查进展暨风险提示公告，其中指出，若后续经证监会行政处罚认定的事实，触及《上海证 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced the ongoing investigation into Oriental Group for serious financial fraud, which may lead to mandatory delisting due to significant violations of regulations [1][2]. Group 1: Investigation and Financial Misconduct - The CSRC initiated an investigation into Oriental Group on June 20, 2024, revealing that the financial information disclosed from 2020 to 2023 is severely inaccurate, indicating major financial fraud [1]. - The CSRC emphasizes that financial fraud by listed companies severely harms investor interests and will enforce strict penalties for such misconduct [1][2]. - Oriental Group has acknowledged the risk of mandatory delisting due to significant violations of the Shanghai Stock Exchange listing rules [1][2]. Group 2: Restructuring and Financial Condition - Oriental Group is at risk of not meeting the conditions for restructuring, as it has been under investigation and faces potential mandatory delisting, which disqualifies it from being considered for restructuring value [2]. - The company previously used 629 million RMB of idle raised funds to temporarily supplement its liquidity, but due to tight cash flow, it is expected to be unable to return these funds to the designated account on time [2].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has reported significant financial fraud at Dongfang Group (600811), indicating that the company's financial information from 2020 to 2023 is severely inaccurate, potentially leading to mandatory delisting due to major violations [1] Group 1: Investigation Progress - The CSRC has initiated an investigation into Dongfang Group since June 20 of the previous year for suspected violations of information disclosure laws [1] - The company has issued multiple announcements regarding the progress of the investigation and risk warnings, highlighting the risk of mandatory delisting if the CSRC confirms the violations [1] Group 2: Regulatory Actions - The CSRC emphasizes that financial fraud severely harms investor interests and will strictly enforce penalties against such behaviors, including administrative, civil, and criminal accountability [1] - The commission is committed to implementing strict delisting rules for companies involved in major violations, aiming to eliminate "bad apples" from the market and ensure that fraudsters face severe consequences [1] Group 3: Statistics and Trends - In 2024, the CSRC has handled 135 cases of information disclosure violations, including financial fraud, marking a 17% increase year-on-year, making it the most common type of case [1] - The CSRC has reiterated its focus on combating fraudulent issuance and financial fraud, which are the most concerning and intolerable illegal activities for investors [1]

证券代码：600225 证券简称：退市卓朗 公告编号：2025-021 天津卓朗信息科技股份有限公司 股票终止上市暨摘牌的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 主办券商：天风证券股份有限公司。 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。敬请广 大 投 资 者 关 注 主 办 券 商 后 续 披 露 在 全 国 中 小 企 业 股 份 转 让 系 统 （https://www.neeq.com.cn）的股份确权公告，尽快完成股份确权手续，并办理 加挂资金账户等交易结算手续。 天津卓朗信息科技股份有限公司（以下简称"公司"）于 2025 年 1 月 22 日收 到上海证券交易所出具的自律监管决定书《关于天津卓朗信息科技股份有限公司 股票终止上市的决定》（〔2025〕23 号），上海证券交易所决定终止公司股票上市。 第一节 终止上市股票的证券种类、简称、代码、终止上市决定日期 重要内容提示： 证券停复牌情况：适用 因公司股票终止上 ...