Core Viewpoint - *ST Jintai (300225) received a warning and a fine of 2 million yuan from the Shanghai Securities Regulatory Commission for failing to disclose periodic reports within the legal timeframe, highlighting issues in information disclosure and corporate governance [1] Group 1: Violation Details - The failure to disclose periodic reports was a result of internal decision-making rather than an unexpected event [2] - On April 23, the then Chairman and President, Luo Dian, along with other executives, decided not to accept the audit report from Zhongxinghua Accounting Firm, which indicated a "disclaimer of opinion" for the 2024 financial statements, leading to an inability to meet the legal deadline for the annual report [2] - This decision was criticized as short-sighted, as it exacerbated market speculation about the company's financial status and could lead to a trust crisis [2] Group 2: Penalties Imposed - The total fines amounted to 4.6 million yuan, with the company fined 2 million yuan and individual executives fined a total of 2.6 million yuan [3][4] - The Shanghai Securities Regulatory Commission emphasized that the executives failed to fulfill their responsibilities as "directly responsible personnel" under the Securities Law [3] - One executive, Wu Chunchao, argued for leniency based on his non-financial background and short tenure, but this was rejected by the regulatory authority [3]