CCTV News April 27, the company ’s true, accurate, complete and timely disclosure of information is an important foundation for the healthy and orderly operation of the securities market. Financial fraud seriously challenges the seriousness of the information disclosure system, severely destroys the market’s credibility foundation, seriously undermines market confidence, and seriously damages investors’ interests. It is a “tumor” in the securities market and must be severely and severely cracked down.
Since 2019, the SFC has based on the overall goal of improving the quality of listed companies and the work requirements of serving the real economy, strengthened coordination, strict standards, and optimized mechanisms to severely crack down on listing In the case of financial fraud, the company has accumulatively investigated 22 listed companies for financial fraud, imposed administrative penalties on 18 typical cases, and transferred 6 suspected crimes of financial fraud to public security organs.
These cases present the following characteristics:
First, the fraud cycle is long and the amount involved is large. After investigation, Soling shares (002766) fabricated overseas business and forged receipts for repayment for three consecutive years from 2016 to 2018, thereby inflating huge profits.
The second is concealed and complicated means. After investigation, Zangge Holdings (000408) colluded with hundreds of customers from July 2017 to 2018, and took advantage of the particularity of commodity trading to implement fraud.
The third is the prominent systematic fraud. After investigation, Longli Bio (002604) made a false increase in the company’s profits from 2015 to the first half of 2017, and regularly implemented fraud by deleting and modifying the financial accounting set of books.
Four is subjectively malignant and obvious. After investigation, Dongfang Jinyu (600086) used the wholly-owned Sun Company as a platform from 2016 to the first half of 2018 to fabricate the purchase and sale of jadeite rough, and achieved performance goals through fraud.
In addition, financial fraud of listed companies is often accompanied by other illegal and criminal acts that seriously damage the interests of investors, such as failure to disclose major information according to regulations, illegal use of funds of listed companies by major shareholders, and audit , Evaluation and other intermediary agencies failed to work diligently to practice, and the problem of the lack of the role of “gatekeeper” is still outstanding.
Next, the Securities Regulatory Commission will continue to adhere to the principles of marketization and rule of law, and will fight against vicious illegal activities such as financial fraud and fraud of listed companies, and make full use of new securities. Law, concentrate law enforcement resources, strengthen law enforcement, strictly investigate the liability of relevant agencies and personnel for violations of laws, increase the cost of securities violations and violations of laws, and move suspected criminals according to lawSend to public security organs, resolutely purify the market environment, protect the legitimate rights and interests of investors, effectively maintain market discipline and market order, and promote the healthy and stable development of the capital market.