Core Viewpoint - The China Securities Regulatory Commission (CSRC) maintains a strict stance against financial fraud by listed companies, signaling that delisting is not the end of accountability [1][7]. Group 1: Company Overview - Yuebo Power, established in 2012 and headquartered in Nanjing, specializes in the research, production, and sales of new energy vehicle powertrain systems. The company was listed on the Shenzhen Stock Exchange's Growth Enterprise Market in May 2018 [2]. - The company faced multiple penalties for violations post-listing, leading to a significant decline in performance and internal governance issues, ultimately resulting in its delisting on July 22, 2024 [2]. Group 2: Financial Misconduct Details - From 2018 to 2022, Yuebo Power inflated its revenue and profits through fictitious sales of new energy vehicle powertrains and other deceptive practices. The inflated revenues for these years were reported as 425 million, 263 million, 138 million, 98.91 million, and 21.68 million yuan, representing 86.08%, 67.88%, 41.33%, 32.25%, and 15.24% of the reported revenue for each respective year [2][3]. - The inflated profit totals for the same period were 153 million, 32.63 million, 36.20 million, 22.01 million, and a loss of 720.6 thousand yuan, accounting for 546.30%, 4.00%, 92.14%, 8.01%, and 0.30% of the reported profit [2][3]. Group 3: Regulatory Actions - The CSRC plans to impose a total fine of 30.8 million yuan on Yuebo Power and its responsible personnel, with penalties including a warning and fines of 10 million yuan for the company and 13.5 million yuan for the former chairman, Li Zhanjiang [4][5]. - For the first time, the CSRC will also hold accomplices accountable, imposing fines of 2 million and 300 thousand yuan on two individuals who aided in the fraudulent activities [5][6]. Group 4: Broader Implications and Future Actions - The CSRC emphasizes the need to dismantle the "ecosystem" of fraud involving third-party accomplices and listed companies, which has become a new characteristic of financial fraud in the capital market [7][8]. - The CSRC has established a comprehensive prevention and punishment system for financial fraud, aiming to rigorously combat systemic and collusive fraud through various enforcement measures [8].