据相关公告，江苏舜天通过参与通讯器材内贸虚假自循环业务，在2009年至2021年年度报告共计虚增营收103.33亿元，虚增利润总额9.34亿元。经证监会查实后，决定对江苏舜天给予警告并处以罚款1000万元，此外，对5名相关责任人处以总计430万元罚款。①Strict actions will be taken against falsifying financial data, Jiangsu Sainty Corp.,Ltd., Shaanxi Broadcast & TV Network Intermediary, East Group Co.,Ltd. will be penalized, and ST special treat, Jiangsu Zhongli Group will also be fined. ② Due to the failure to release annual reports so far, Vtron Group Co.,Ltd. and Guangdong Huatie Tongda High-speed Railway Equipment Corporation will be ST; ② Although Tunghsu Optoelectronic Technology and Tunghsu Azure Renewable Energy have completed overdue disclosure of annual reports, they will also be fined for internal control problems.
On July 6th, Caixin reported that many companies announced administrative penalties due to issues such as false records. Among them, Jiangsu Sainty Corp., Ltd. (600287.SH) falsely increased its total profit by CNY 0.934 billion. Meanwhile, Tunghsu Azure Renewable Energy (000040.SZ) and Tunghsu Optoelectronic Technology (000413.SZ), which had difficult annual reports before, still had to wear the ST hat due to internal control issues. And Vtron Group Co., Ltd. (002308.SZ) and Guangdong Huatie Tongda High-Speed Railway Equipment Corporation (000976.SZ), whose annual reports have not yet been released, will be listed as *ST.
ST Texin (000070.SZ) and Jiangsu Zhongli Group co., Ltd. (002309.SZ) had been involved in various scandals and their performance was precarious. The situation of Jiangsu Sainty, Shaanxi Broadcast & TV Network Intermediary (600831.SH) and East Group Co., Ltd. (300376.SZ) was relatively better, but they will also become ST shares after resuming trading on July 9th.
According to relevant announcements, Jiangsu Sainty falsely increased its revenue and profits by CNY 10.333 billion and CNY 0.934 billion respectively in the annual reports from 2009 to 2021 by participating in false self-circulation business of communication equipment. After being verified by the China Securities Regulatory Commission (CSRC), Jiangsu Sainty was warned and fined CNY 10 million. In addition, five related responsible personnel were fined a total of CNY 4.3 million.
Similar to Jiangsu Sainty's situation, East Group Co., Ltd. inflated its performance by engaging in false trading business, financing and procurement business, agency business, and data center integration business that lacked commercial substance, resulting a total of inflated revenue of CNY 4.074 billion in annual reports from 2017 to 2021. Although the amount involved is less than that of Jiangsu Sainty, East Group's false transactions are more widespread. The CSRC planned to impose penalties on the company and 15 related responsible personnel, with a total amount of CNY 32.5 million.
In addition, Shaanxi Broadcast & TV Network Intermediary recognized debt restructuring income for related projects that did not meet the investment income recognition conditions, resulting in the total inflated profit of the consolidated financial statements in the 2022 annual report exceeding CNY 23.52 million, accounting for 118.95% of the total profit of that year. The total amount of penalties for the company and related responsible personnel is CNY 11.8 million.
The CSRC stated in yesterday's announcement that it will continue to strengthen the three-dimensional accountability for controlling shareholders, actual controllers, and organizations that commit financial fraud and misappropriation of listed company's assets. It will further deepen the linkage with public security and judicial authorities, and further promote the formation of a regulatory and law enforcement "ecosystem" with joint supervision and orderly connection, so as to fully implement rigorous regulatory and law enforcement requirements.
