Since May, penalties have been imposed on five previously filed listed companies, Tefa Information, Huijin Co., Ltd., Straits Innovation, Zhongtai Chemical, and Guorui Technology. Apart from Guorui Technology involved in the “private network communication case,” the other 4 companies were all involved in false records in their annual reports, and 5 companies were successively STed, which attracted a lot of attention from the market. According to incomplete statistics, since 2023, a total of 101 listed companies and executives in the Shanghai and Shenzhen markets have been investigated. Among them, more than 50 listed companies have been filed for suspected illegal disclosure of information, which is the main reason for filing the case. Furthermore, suspected failure to disclose annual reports on time has also led to the filing of a number of listed companies. The cases filed by executives of listed companies mainly involved suspected illegal disclosure of information, insider trading, etc.