Troy Information: The overstatement of revenue in the 2022 annual report and the 2023 semi-annual report will be subject to other risk warnings
Troy Information has been subjected to other risk warnings due to over-reporting of revenue. The company received an "Advance Notice of Administrative Penalty" from the Sichuan Regulatory Bureau of the China Securities Regulatory Commission on September 19, 2025, indicating that the company over-reported operating revenue by 268 million yuan and 125 million yuan in its reports for 2022 and 2023, respectively, resulting in non-compliance with accounting standards. Trading was suspended for one day starting September 22, 2025, and resumed on September 23, with the stock abbreviation changed to "ST Troy"
According to the Zhitong Finance APP, Troy Information (300366.SZ) announced that on September 19, 2025, it received the "Advance Notice of Administrative Penalty" issued by the Sichuan Regulatory Bureau of the China Securities Regulatory Commission, and the company's stock will be subject to other risk warnings.
The notice states that the company is suspected of illegal activities: "In November 2022, Troy Information engaged in collaborative integrated machine sales with State Grid Sichuan Comprehensive Energy Service Co., Ltd. and conducted hardware and software sales for big data platforms with Sichuan Zhongdian Qimingxing Information Technology Co., Ltd. When engaging in the above businesses, Troy Information did not have control over the goods and still recognized revenue using the total amount method despite being aware of the business transaction model, which does not comply with Article 34 of the 'Accounting Standards for Enterprises No. 14 - Revenue' (Cai Kuai [2017] No. 22), resulting in the company overreporting operating revenue by 268 million yuan and 125 million yuan in the 2022 annual report and the 2023 semi-annual report, respectively, accounting for 12.22% and 15.84% of the reported operating revenue for the respective periods."
The company's stock will be suspended for one day starting from the market opening on September 22, 2025 (Monday) and will resume trading on September 23, 2025 (Tuesday). The company's stock will be subject to other risk warnings starting from the market opening on September 23, 2025 (Tuesday), and the stock abbreviation will change from "Troy Information" to "ST Troy."
