Core Viewpoint - The article discusses the fraudulent activities of Jiangsu Wuzhong (*ST Suwu*), a company that has been involved in long-term deception and asset stripping, leading to its forced delisting from the stock market due to severe violations of regulations [3][17]. Group 1: Company Background and Fraudulent Activities - Jiangsu Wuzhong has a history of "cross-era fraud," where different controlling parties engaged in deceptive practices over time, ultimately leading to significant financial losses for investors [5]. - The company was initially involved in the textile industry and later attempted various transformations, including real estate and chemical sectors, before venturing into the medical aesthetics industry [7]. - The company gained notoriety for its medical aesthetics product, AestheFill, which became popular but was later undermined by legal disputes with its supplier, Regen [12]. Group 2: Key Events Leading to Delisting - Jiangsu Wuzhong's stock experienced a misleading surge, with five consecutive days of trading at the upper limit before being suspended, creating a false impression of success [16]. - Regulatory investigations revealed multiple instances of fraud, including the misrepresentation of controlling shareholders and the inflation of revenue and profits, with related party transactions amounting to 1.693 billion yuan, which constituted 96.09% of the company's net assets [17]. - The company and its controlling shareholders faced severe penalties, including a 15 million yuan fine for the actual controller, Qian Qunshan, and a ten-year ban from the securities market [18]. Group 3: Legal and Financial Consequences - Jiangsu Wuzhong and its subsidiaries have been labeled with negative legal tags, and the ongoing legal disputes with Regen have led to a significant claim of 1.6 billion yuan for damages [19]. - The article highlights the broader implications of the case, noting that the surge in the capital market has led to increased scrutiny and regulatory actions against companies engaging in fraudulent activities, with a record number of 13 companies facing delisting measures in 2025 [18].

Group 1 - In May 2025, the number of newly registered private equity and venture capital fund managers in China dropped to 2, a decrease of 83.3% compared to April and a 60% decline year-on-year [1] - A total of 339 new private equity and venture capital funds were registered, marking a year-on-year increase of 55.5% but a month-on-month decrease of 18.7% [1] - The domestic primary equity investment market recorded 428 financing events, representing a year-on-year decrease of 13.6% and a month-on-month decrease of 18.0% [1] Group 2 - Shenzhen Innovation Investment Group (Deep Venture) has registered a new fund, the Shenzhen Hongtu Seed Fund, with a total capital contribution of 300 million yuan, focusing on advanced technology sectors [2] - The Shenzhen Semiconductor and Integrated Circuit Industry Investment Fund aims for a total scale of 5 billion yuan, with 3.6 billion yuan already contributed by various local government funds [3] Group 3 - Deep Venture disclosed 10 equity investment events in the reporting period, a fivefold increase compared to May 2024 and a 66.7% increase from April [3] - In the first five months of 2025, Deep Venture made 43 investments, which is 58.1% of its total investments in 2024 [3] Group 4 - 60% of Deep Venture's projects in May were in the angel and A-round early stages, with a focus on advanced manufacturing, particularly in integrated circuits and aerospace [6] - The company invested in "Sailu Medical," which completed an A+ round of financing, with funds aimed at expanding its sequencing platform and global market outreach [11][12]