【导读】七年信披违规，三七互娱及相关责任人合计被罚3255万元 中国基金报记者忆山 12月5日，三七互娱发布公告称，公司于当日收到证监会下发的行政处罚决定书。因七年年度报告披露的股东持股情况存在虚假记载、未及时披露关联交 易等事项，公司及多名相关责任人合计被罚3255万元。 2023年6月，因涉嫌信息披露违法违规，三七互娱、公司实际控制人兼董事长李卫伟和副董事长曾开天均被证监会立案。 虚假记载股东持股情况、关联交易未及时信披 行政处罚决定书显示，经查明，三七互娱主要存在四项违法事实。 一是2014年至2020年年报披露的股东持股情况存在虚假记载。2014年4月，顺荣股份重大资产重组配套融资发行4771.37万股股份，其中吴某东、吴卫红、 吴某、叶某华认购的共2271.8万股，实为给李卫伟、曾开天二人代持。三七互娱2014年至2020年年报披露的股东持股情况均存在虚假记载。 二是2018年年度报告未披露收购江苏极光股权事项为关联交易，存在重大遗漏。2018年2月，三七互娱公告收购胡宇航持有的江苏极光20%股权。经查， 胡宇航系上市公司关联自然人，前述收购事项属于三七互娱与胡宇航发生的关联交易，三七互娱2018年 ...

【导读】七年信披违规，三七互娱及相关责任人合计被罚 3255 万元 中国基金报记者 忆山 12 月 5 日，三七互娱发布公告称，公司于当日收到证监会下发的行政处罚决定书。因七年年 度报告披露的股东持股情况存在虚假记载、未及时披露关联交易等事项，公司及多名相关责 任人合计被罚 3255 万元。 2023 年 6 月，因涉嫌信息披露违法违规，三七互娱、公司实际控制人兼董事长李卫伟和副 董事长曾开天均被证监会立案。 虚假记载股东持股情况、关联交易未及时信披 行政处罚决定书显示，经查明，三七互娱主要存在四项违法事实。 三是三七互娱 2020 年间接收购广州三七股权事项为关联交易， 2020 年 12 月 7 日披露的 临时公告虚假记载， 2020 年年度报告存在重大遗漏。 四是 2018 年至 2021 年年报未披露与海南力源等公司发生的关联交易，存在重大遗漏。海 南力源等公司由李卫伟、曾开天等人设立并控制，是三七互娱的关联方。三七互娱 2018 年 至 2021 年年报未披露与海南力源等公司发生的 1.15 亿元、 1.08 亿元、 7.60 亿元、 1.93 亿元关联交易，存在重大遗漏。 合计罚款 3255 万元 ...

Core Viewpoint - The recent administrative penalties imposed on 37 Interactive Entertainment due to multiple violations over six years have raised concerns about trust and credibility in the gaming industry, highlighting the need for compliance and ethical operations to sustain long-term growth [1][2][4]. Group 1: Violations and Penalties - 37 Interactive Entertainment and its chairman Li Weiwei received a notice from the China Securities Regulatory Commission (CSRC) detailing four major violations, including false disclosures of shareholder holdings and undisclosed related party transactions from 2014 to 2021 [1][2]. - The penalties include a fine of 9 million yuan for the company, 14 million yuan for Li Weiwei (5 million yuan for direct responsibility and 9 million yuan as the actual controller), and fines for other executives totaling 3.25 million yuan [2][3]. Group 2: Industry Context and Implications - The incident reflects a broader trend in the gaming industry, where financial manipulation is prevalent, and may serve as a turning point for regulatory scrutiny, prompting companies to rethink their growth strategies [3][4]. - The gaming sector, characterized by light asset models and high valuations, is particularly vulnerable to financial misconduct, as evidenced by the recent penalties against 37 Interactive Entertainment and its competitor Century Huatong [3][4]. Group 3: Company Performance and Strategy - Despite the penalties, 37 Interactive Entertainment reported a revenue of 12.461 billion yuan for the first three quarters of 2025, a year-on-year decline of 6.59%, while net profit increased by 23.57% to 2.345 billion yuan [6]. - The company’s R&D investment for the same period was 512 million yuan, representing 4.5% of its revenue, significantly lower than competitors like Tencent and NetEase, which invest over 10% of their revenue in R&D [6][7]. Group 4: Market Reaction and Future Outlook - Following the announcement of penalties, the company's stock price experienced a slight decline but later achieved a record one-day limit-up, indicating mixed market sentiment and speculation about potential recovery [5]. - The company aims to enhance its competitive edge through AI technology, which may help it navigate compliance challenges and expand in overseas markets [9].