As of December 13**, ST Potian (603603) has been down for three consecutive trading days.
On the news side, *ST Poten received the "Advance Notice of Administrative Punishment" issued by the Beijing Securities Regulatory Bureau on December 8. Due to financial fraud for many years and the circumstances are vile, the company has touched the situation of forced delisting in a material violation of the law, and may be forced to delist in a material violation of the law.
According to the Notice, the Beijing Securities Regulatory Bureau determined that *ST Poten had inflated or reduced its operating income and profits in a variety of ways, resulting in false records in its annual reports for five consecutive years from 2017 to 2021. The company's balance sheet in 2020 and 2021 falsely recorded a total of 195.5 billion yuan, and accounted for 138 percent of the total amount of net assets disclosed at the end of the two years06%。
The Beijing Securities Regulatory Bureau pointed out that the illegal act of information disclosure falsely recorded by ST Potian lasted for a long time, and the amount of false records was large and the proportion was high, which seriously damaged the market order. If the above situation of the company touches the situation of forced delisting of material violations, it may be subject to forced delisting of major violations. If the company touches the situation of forced delisting due to material violations according to the facts determined in the administrative penalty decision, the company's listing will be terminated.
How can investors who have suffered losses due to misrepresentation by *ST Poten recover their losses?Wu Lijun, a lawyer at Shanghai Haihui Law Firm, said that all injured investors who held *ST Potian** on April 3, 2023 can register through the official account "Dazhong ** Bao" (feature code: 18) to participate in the claim. The final claim conditions are subject to the court's determination.