先行赔付

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证券市场先行赔付或迎第五案例 促制度落地专家建言“无激励则缺动力”
Zhong Guo Jing Ying Bao· 2025-06-21 19:16
炒股就看金麒麟分析师研报,权威,专业,及时,全面,助您挖掘潜力主题机会! 中经实习记者 孙汝祥 记者 夏欣 北京报道 登录新浪财经APP 搜索【信披】查看更多考评等级 证券市场先行赔付制度或将迎来12年内第五个实践案例。 近两个月来,作为保荐人,五矿证券连发三次声明,将对广道数字涉嫌财务造假案受损投资者进行先行 赔付。五矿证券在6月13日的最新声明中表示,正牵头开展先行赔付方案的研究与制定工作。 接受《中国经营报》记者采访的多名专家指出,先行赔付能够提高投资者获得赔偿的效率,缓释相关责 任主体的声誉风险,降低监管与司法成本,是一项"多赢"的制度。 不过,在此之前,中国证券市场先行赔付只有四次实践,分别是2013年万福生科案、2014年海联讯案、 2017年欣泰电气案和2023年的紫晶存储案。 受访专家认为,与证券市场的违法行为相比,仅有四个先行赔付案例在数量上是严重不匹配的,极大地 影响了先行赔付的制度预期和功效。在缺少外部强制和激励机制的前提下,相关责任主体往往缺乏先行 赔付的意愿和动力。 专业人士建议,为推动先行赔付更多实践,关键在于完善先行赔付的激励机制,结合"行政和解",提升 责任人先行赔付的动力。 ...
连续多年财务造假 *ST广道拟被强制退市
Shang Hai Zheng Quan Bao· 2025-06-15 17:58
Core Viewpoint - *ST Guangdao has been implicated in systematic financial fraud over the past seven years, leading to potential forced delisting from the Beijing Stock Exchange due to serious violations of listing rules [2][7]. Group 1: Financial Fraud Details - From 2018 to mid-2024, *ST Guangdao inflated its revenue by 1.465 billion yuan through the creation of false sales and purchase contracts, invoices, and other documents, with the inflated amounts exceeding 85% of reported figures for each period [3]. - The company also inflated its operating costs by 754 million yuan, with the inflated amounts ranging from 83.30% to 99.13% of reported costs [3]. - The fraudulent activities resulted in false disclosures in annual reports from 2018 to 2023 and the 2024 semi-annual report [3]. Group 2: Penalties and Consequences - The Shenzhen Securities Regulatory Bureau has proposed severe penalties, including a 10 million yuan fine for the company and a 15 million yuan fine for the actual controller, Jin Wenming, who may also face a lifetime ban from the securities market [4][5]. - Other executives, including the financial head Zhao Lu, are also facing fines ranging from 500,000 to 2.5 million yuan, with potential lifetime bans for their involvement in the fraud [5]. - Jin Wenming's 6.52 million shares (9.73% of total shares) have been judicially frozen due to financial disputes, although this does not currently affect control or normal operations [5]. Group 3: Market Impact and Future Risks - Due to the fraudulent activities, *ST Guangdao is at risk of being forced to delist, with its stock set to be suspended for one trading day and then subject to delisting risk warnings upon resumption [7][8]. - If formal penalties confirm the delisting standards, the company's stock will be terminated from listing, marking a significant case of accountability under the new registration system [8]. - The company’s sponsor, Wukuang Securities, is working on a compensation plan for investors affected by the fraudulent disclosures, indicating a proactive approach to mitigate investor losses [6].
“拦快递造假”公司或成北交所退市第一股!名校教授当独董,拟被罚60万,本人回应
凤凰网财经· 2025-06-15 11:46
中国主流财经全媒体。互联网新闻信息服务许可证编号:51120190017 。 6月13日,深圳市广道数字技术股份有限公司(以下简称"*ST广道")发布公告称,公司收到中 国证监会深圳监管局(以下简称深圳证监局)下发的《行政处罚事先告知书》。经查明,*ST广 道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业务, 从而虚增营业收入及营业成本。 以下文章来源于每日经济新闻 ,作者每经记者 每日经济新闻 . 根据收到的《行政处罚事先告知书》认定情况,公司可能触及《北京证券交易所股票上市规则》 规定的重大违法行为,可能被实施重大违法强制退市。*ST广道称,"目前公司各项生产经营工作 正常开展,尚未收到就上述立案调查事项的正式处罚决定。" 根据违法行为的事实、性质等,深圳证监局拟决定:对*ST广道责令改正,给予警告,并处以 1000万元罚款;对董事长、实控人金文明给予警告,并处以1500万元罚款⋯⋯同时,对独立董 事安秀梅等人给予警告,并分别处以60万元罚款。 此前有媒体报道,公司工作人员向会计师事务所提供虚假收件电话,待装有询证函的快递一经寄 出,便迅速安排人手线下拦截。随后,私自加盖假 ...
“拦快递造假”公司或成北交所退市第一股!名校教授当独董,拟被罚60万,本人回应
凤凰网财经· 2025-06-15 11:46
以下文章来源于每日经济新闻 ,作者每经记者 每日经济新闻 . 中国主流财经全媒体。互联网新闻信息服务许可证编号:51120190017 。 6月13日,深圳市广道数字技术股份有限公司(以下简称"*ST广道")发布公告称,公司收到中 国证监会深圳监管局(以下简称深圳证监局)下发的《行政处罚事先告知书》。经查明,*ST广 道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业务, 从而虚增营业收入及营业成本。 此前有媒体报道,公司工作人员向会计师事务所提供虚假收件电话,待装有询证函的快递一经寄 出,便迅速安排人手线下拦截。随后,私自加盖假公章,再堂而皇之地寄回给会计师事务所,以 此完成造假闭环。 根据《告知书》可知,自2016年起,公司董事长兼总经理金文明、董事兼财务负责人赵璐、副总 经理宋凯等人,长期通过伪造合同、篡改会计资料等手段实施财务造假。金文明明知并放任相关 行为,并批准借用外部资金以掩盖银行存款账实不符。赵璐则组织员工伪造单据、拦截审计询证 函,系主要策划人;宋凯协助签署虚假合同,并指导财务人员编制虚假销售列表。 同时,赵璐2016年6月至今担任*ST广道董事、副总经理、财务 ...
顶格重罚!实控人被终身市场禁入
Zhong Guo Ji Jin Bao· 2025-06-14 08:13
Core Viewpoint - *ST Guangdao faces severe penalties from the China Securities Regulatory Commission (CSRC) for financial fraud, which may lead to its delisting from the stock market [2][4][8]. Group 1: Regulatory Actions - The CSRC issued a "Notice of Administrative Penalty" to *ST Guangdao, revealing that the company fabricated sales and procurement transactions through false contracts and invoices, resulting in inflated revenue and costs [4][6]. - The penalties include a fine of 10 million yuan for the company, a 15 million yuan fine for the actual controller Jin Wenming, and a lifetime ban from the securities market for both him and the financial officer Zhao Lu [6][8]. - Other responsible personnel received fines ranging from 500,000 to 2.5 million yuan [6]. Group 2: Financial Impact - As of June 13, *ST Guangdao's stock price was 6.15 yuan per share, down over 78% from its high of 28.23 yuan prior to the investigation [5]. - The company inflated its revenue by 143 million yuan, 192 million yuan, 223 million yuan, 249 million yuan, 304 million yuan, and 283 million yuan from 2018 to 2023, with a 716.46 million yuan inflation in the first half of 2024 [6]. Group 3: Potential Delisting - The company may face mandatory delisting due to significant violations of the Beijing Stock Exchange listing rules, as indicated in the CSRC's findings [8]. - The stock will be suspended for one day on June 16, 2025, and will continue to be under delisting risk warning from June 17, 2025 [4]. Group 4: Investor Compensation - Minmetals Securities has initiated a "preliminary compensation" program for eligible investors who suffered losses due to the company's financial misconduct [10][11]. - The compensation scheme is being developed in collaboration with relevant parties, and it aims to address losses incurred by investors due to the company's fraudulent activities [10][11].
广道数字涉嫌财务造假或将退市,先行赔付启动以保护投资者利益
Xin Jing Bao· 2025-06-14 06:03
Core Viewpoint - Shenzhen Guangdao Digital Technology Co., Ltd. (referred to as "Guangdao Digital" or "*ST Guangdao") is facing severe penalties from the Shenzhen Securities Regulatory Bureau for financial fraud, including the fabrication of sales and procurement contracts to inflate revenue and costs [1][2][3][4]. Group 1: Financial Misconduct - Guangdao Digital allegedly inflated its revenue by a total of 1.43 billion, 1.92 billion, 2.23 billion, 2.49 billion, 3.04 billion, 2.83 billion, and 716.46 million from 2018 to the first half of 2024, representing 87.34%, 95.39%, 98.96%, 85.87%, 99.39%, 98.14%, and 88.11% of the reported amounts for those periods [1]. - The company also inflated its operating costs by 646.5 million, 854.2 million, 1.17 billion, 1.33 billion, 1.63 billion, 1.52 billion, and 38.63 million during the same period, accounting for 84.53%, 91.17%, 98.41%, 83.30%, 99.13%, 92.26%, and 83.81% of the reported amounts [1]. Group 2: Regulatory Actions - The Shenzhen Regulatory Bureau plans to impose a maximum penalty on Guangdao Digital, including a fine of 10 million and warnings for key individuals involved, with fines totaling 15 million for the controlling shareholder Jin Wenming [3][4]. - Jin Wenming and Zhao Lu are also facing lifetime bans from the securities market due to their roles in the financial misconduct, which severely disrupted market order [4]. Group 3: Potential Consequences - Guangdao Digital may face mandatory delisting due to serious violations as per the Beijing Stock Exchange's listing rules, with a trading suspension for one day following the announcement [5][6]. - The company has already been flagged for financial delisting risks due to an audit report that expressed an inability to provide an opinion on its 2024 annual financial statements [5]. Group 4: Investor Protection Measures - The North Exchange and related institutions are preparing to offer advance compensation to eligible investors who suffered losses due to the company's fraudulent activities [7]. - Advance compensation is a voluntary civil settlement process for investors affected by significant legal violations, with previous cases already established in the market [7].
财务造假,顶格处罚!这家公司,或触及重大违法强制退市!
新华网财经· 2025-06-14 03:47
6月13日,深圳市广道数字技术股份有限公司(下称"*ST广道")披露收到证监会《行政处罚事先告知 书》(下称《事先告知书》)的公告。 先行赔付的法律依据为《证券法》第93条,是指发行人因欺诈发行、虚假陈述或其他重大违法行为给投 资者造成损失的,发行人的控股股东、实际控制人、相关的证券公司等先行赔付义务人可以委托投保机 构就赔偿事宜与投资者达成协议,予以先行赔付;先行赔付后,可以依法追偿。 《事先告知书》显示,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,证监会深圳监管局对涉事相关方做出顶格处罚。 根据《事先告知书》,对*ST广道责令整改,给予警告,并处以1000万元罚款;对*ST广道董事长、总 经理金文明给予警告,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);并对*ST广道监事、独立董事、董事等相关当事人给予警告,并处以 500万元、250万元、150万元等多档位罚款。记者了解到,对于*ST广道和金文明均为顶格处罚。 监管部门对财务造假的严厉处罚,体现出"零容忍"态度和从严监管决心,对财务造假易 ...
顶格处罚!这家上市公司,或触及重大违法类强制退市情形
券商中国· 2025-06-14 02:27
根据《事先告知书》初步认定的事实,*ST广道将可能触及《北京证券交易所股票上市规则》(下称《上市规 则》)第10.5.1条规定的重大违法类强制退市情形。*ST广道将于公告披露日的次一交易日起停牌1天,并在复 牌之日起被北交所叠加实施重大违法类退市风险警示。 顶格处罚 前期,*ST广道已因2024年年度财务会计报告被出具无法表示意见的审计报告,触及《上市规则》规定的财务 类退市风险警示情形,并于2025年5月6日被北交所实施退市风险警示,证券简称由"广道数字"变更为"*ST广 道"。 后续,收到证监会的行政处罚决定后,将根据相应决定内容判断公司是否进入股票强制退市程序。北交所将在 中国证监会指导下,认真践行依法从严监管要求,指导公司严格履行信息披露义务。若*ST广道触及《上市规 则》规定的退市情形,北交所将依法依规推进公司退市相关工作。 6月13日,深圳市广道数字技术股份有限公司(下称"*ST广道")披露收到证监会《行政处罚事先告知书》 (下称《事先告知书》)的公告。 先行赔付是一种民事自愿和解行为,目前主要由证监会系统主导推动相关工作,必要时会协调法院系统就赔偿 计算标准等提供咨询和支持。主要适用于发行人因欺 ...
财务造假,顶格处罚!这家公司,或触及重大违法强制退市!
Zheng Quan Shi Bao· 2025-06-14 01:46
《事先告知书》显示,经查明,*ST广道涉嫌存在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业务,从而虚增营业收入及营业成本等违法事实。相关行为导致*ST 广道披露的2018年至2023年年度报告、2024年半年度报告及《2024年度向特定对象发行股票募集说明书 (草案)》存在虚假记载。 《事先告知书》显示,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,证监会深圳监管局对涉事相关方做出顶格处罚。 根据《事先告知书》,对*ST广道责令整改,给予警告,并处以1000万元罚款;对*ST广道董事长、总 经理金文明给予警告,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);并对*ST广道监事、独立董事、董事等相关当事人给予警告,并处以 500万元、250万元、150万元等多档位罚款。记者了解到,对于*ST广道和金文明均为顶格处罚。 监管部门对财务造假的严厉处罚,体现出"零容忍"态度和从严监管决心,对财务造假易形成强大威慑, 彰显证券市场法治化建设不断推进,有力促使市场参与各方规 ...
财务造假,顶格处罚!这家公司,或触及重大违法强制退市!
证券时报· 2025-06-14 01:42
或触及 重大违法类强制退市情形。 6月13日,深圳市广道数字技术股份有限公司(下称"*ST广道")披露收到证监会《行政处罚事先告知书》(下称《事先告知书》)的公告。 监管部门对*ST广道施以顶格处罚 根据《事先告知书》初步认定的事实,*ST广道将可能触及《北京证券交易所股票上市规则》(下称《上市规则》)第10.5.1条规定的重大违法类强制退市情形。 *ST广道将于公告披露日的次一交易日起停牌1日,并在复牌之日起被北交所叠加实施重大违法类退市风险警示。 先行赔付的法律依据为《证券法》第93条,是指发行人因欺诈发行、虚假陈述或其他重大违法行为给投资者造成损失的,发行人的控股股东、实际控制人、相关的 证券公司等先行赔付义务人可以委托投保机构就赔偿事宜与投资者达成协议,予以先行赔付;先行赔付后,可以依法追偿。 前期,*ST广道已因2024年年度财务会计报告被出具无法表示意见的审计报告,触及《上市规则》规定的财务类退市风险警示情形,并于2025年5月6日被北交所实 施退市风险警示,证券简称由"广道数字"变更为"*ST广道"。 后续,收到证监会的行政处罚决定后,将根据相应决定内容判断公司是否进入股票强制退市程序。北交所将 ...