*ST Qingyue announced on the evening of September 1 that, due to suspected fraudulent issuance and illegal information disclosure violations, the China Securities Regulatory Commission intends to order the company to make corrections, issue a warning, and impose a fine of 171.88 million yuan. The company's stock may trigger mandatory delisting for major violations. According to the prior notice of administrative penalty, the company fabricated major false content in its prospectus for listing on the STAR Market. From 2020 to the first half of 2022, by deliberately understating inventory write-down provisions and falsely selling chips, it inflated total profits by 3.374 million yuan, 7.645 million yuan, and 23.582 million yuan respectively, accounting for 5.56%, 15.58%, and 131.74% of the disclosed total profits for each period. In addition, the 2022 annual report and the 2023 semi-annual report contained false records. In 2023, the company failed to promptly disclose the repayment of 44.4199 million yuan in export tax rebates. In 2022, it inflated total profits by 47.116 million yuan, accounting for 108.53% of that year's disclosed total profits. In the first half of 2023, it inflated total profits by 47.536 million yuan, accounting for 145.10% of the absolute value of the disclosed total profits for that period. The China Securities Regulatory Commission intends to issue warnings and fines to multiple senior executives including then-chairman Gao Yudi, and to impose market entry bans. In the first half of this year, the company's revenue was 276 million yuan, down 16.26% year-on-year, with a net loss attributable to the parent company of about 229 million yuan, mainly due to an estimated liability of about 173 million yuan for the administrative fine.
Suzhou QingYue Optoelectronics Technology Co. Ltd. ACSRC intends to fine the company 171.88 million yuan for fraudulent issuance and false disclosure, and its stock may face mandatory delisting for major violations.
