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198亿元严重财务造假,重罚,强制退市
Zhong Guo Ji Jin Bao· 2025-08-08 14:25
Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative punishment to *ST Gaohong for suspected violations of information disclosure laws, leading to significant financial penalties and potential delisting due to serious misconduct [1][4][6]. Financial Misconduct - *ST Gaohong has been found to have inflated its revenue by a total of 19.876 billion yuan and its costs by 19.8 billion yuan from 2015 to 2023, resulting in an inflated profit of 76.2259 million yuan [2][3]. - The company was also involved in fraudulent activities related to a non-public stock issuance in 2020, which was based on the aforementioned inflated financial data [3][4]. Regulatory Actions - The CSRC plans to impose a fine of 1.6 billion yuan on the responsible parties and an additional 7 million yuan on third parties involved in the fraud [1]. - The company’s chairman and other key executives face penalties, including a 10-year ban from the securities market [4]. Delisting Risk - Due to the serious nature of the violations, *ST Gaohong is at risk of being forcibly delisted from the Shenzhen Stock Exchange [1][5][6]. - The company has already been flagged for risk warnings and has faced multiple internal control issues, leading to its stock being under additional risk warnings [7]. Company Status - As of August 8, the stock price of *ST Gaohong was 2.21 yuan per share, with a total market capitalization of 2.6 billion yuan [9]. - The company has been focusing on digital intelligence applications and services, although its financial integrity is under scrutiny [8].
198亿元严重财务造假!重罚!强制退市!
Zhong Guo Ji Jin Bao· 2025-08-08 13:03
Core Viewpoint - *ST Gaohong is facing severe financial misconduct allegations, leading to potential major illegal delisting due to significant violations of securities laws [2][5] Summary by Relevant Sections Financial Misconduct - *ST Gaohong has been found to have inflated revenue and profits through fictitious trade activities, resulting in a total inflated revenue of 19.876 billion yuan and inflated profits of 76.2259 million yuan from 2015 to 2023 [3][4] - The company also engaged in fraudulent issuance of stocks during a non-public offering in 2020, using inflated financial data from 2018 to 2020 [3][4] Regulatory Actions - The China Securities Regulatory Commission (CSRC) has proposed a fine of 1.6 billion yuan against *ST Gaohong and an additional 7 million yuan against third parties involved in the fraud [2][3] - The CSRC has initiated delisting procedures due to the company's serious violations, and relevant criminal evidence will be forwarded to law enforcement [2][5] Internal Control Issues - *ST Gaohong has been flagged for significant internal control problems, leading to its stock being marked with delisting risk warnings [5][6] - The company has received an audit report indicating uncertainty about its ability to continue as a going concern, with its stock facing additional risk warnings [5][6] Market Impact - As of August 8, *ST Gaohong's stock price was 2.21 yuan per share, with a total market capitalization of 2.6 billion yuan [6] - The company has approximately 52,000 shareholders as of July 31 [6]