退市监管

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退市不免责!退市龙宇,被罚3810万元,实控人十年市场禁入!
Zheng Quan Shi Bao· 2025-09-05 15:53
Core Viewpoint - The regulatory authority has imposed significant penalties on Delisted Longyu for financial fraud, emphasizing a zero-tolerance policy towards such violations even after delisting [1][4][8]. Group 1: Regulatory Actions - Delisted Longyu received a total fine of 38.1 million yuan for financial misconduct from 2019 to 2022, including inflated revenues and profits through fictitious trade activities [1][4]. - The actual controller of Delisted Longyu has been banned from the securities market for ten years, alongside substantial fines imposed on other responsible individuals [5][6]. - The Shanghai Securities Regulatory Commission (SSRC) has initiated a thorough investigation into the company's illegal activities, demonstrating a commitment to accountability [4][8]. Group 2: Financial Misconduct Details - From 2019 to 2022, Delisted Longyu inflated its revenues by 2.242 billion yuan, 3.986 billion yuan, 4.024 billion yuan, and 4.288 billion yuan, representing 16.61%, 44.57%, 50.46%, and 42.95% of the reported revenues for those years, respectively [4]. - The company also reported inflated profits totaling 5.73 million yuan, 11.1369 million yuan, 9.5195 million yuan, and 10.9332 million yuan, which accounted for 60.48%, 10.36%, 7.48%, and 23.92% of the disclosed profits during the same period [4]. Group 3: Investor Protection and Market Integrity - The SSRC is actively working to recover losses for affected investors and has already facilitated the return of over 400 million yuan to Delisted Longyu [6]. - The regulatory body is committed to enhancing investor protection and maintaining a healthy market environment, reinforcing the importance of strict enforcement of delisting regulations [9].
上半年近40家A股公司被立案,监管重拳挥向了谁?
Di Yi Cai Jing· 2025-07-03 12:54
Core Viewpoint - The regulatory environment for listed companies in the capital market remains stringent, with numerous companies facing investigations for information disclosure violations, even after delisting [2][12]. Group 1: Regulatory Actions - Nearly 40 listed companies and over 20 responsible individuals have been investigated in the first half of the year, with a focus on information disclosure violations [2]. - Companies such as Yangmei Chemical and Qing Shui Yuan, along with individuals like Su Tong and Yan Chunyu, have been subjected to investigations by the China Securities Regulatory Commission (CSRC) for issues including false annual report disclosures [2][4]. - More than 10 of the investigated companies are ST (Special Treatment) companies, indicating a higher risk profile [2]. Group 2: Recurring Violations - A significant portion of the companies under investigation, over 80%, have been found to have information disclosure violations [4]. - Recent cases include companies like Jiaao Environmental Protection and Jincheng New Materials, which are suspected of information disclosure violations [5]. - Some companies have faced multiple investigations; for instance, Jiaao Environmental Protection was previously penalized for similar violations in 2020 [9]. Group 3: Financial Health of Investigated Companies - Many companies facing investigations have reported consecutive years of losses and are entangled in legal disputes. Jiaao Environmental Protection reported losses exceeding 400 million yuan over three years [11]. - Huayang United has also shown significant losses, totaling over 1.8 billion yuan from 2022 to 2024 [11]. - The financial instability of these companies raises concerns about their ability to comply with regulatory requirements and maintain operations [11]. Group 4: Implications for Investors - The increasing number of investigations and the severity of penalties suggest a tightening regulatory environment, particularly for companies at risk of delisting [12]. - Investors are advised to be cautious with stocks that have delisting risks, as regulatory actions may lead to significant financial repercussions [12][13]. - Legal challenges in recovering losses from delisted companies are prevalent, complicating the investor compensation process [13].