---
title: "Jinfu Technology received an administrative penalty decision from the Jiangsu Securities Regulatory Bureau"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/246434601.md"
description: "Jinfu Technology received an administrative penalty decision from the Jiangsu Securities Regulatory Bureau for failing to accurately account for revenue in its metal trading with suppliers and customers in 2021, resulting in inflated operating income. The company inflated its revenue by 52.9388 million yuan, 111 million yuan, and 172 million yuan in the first quarter, half-year, and first three quarters of 2021, respectively, violating relevant provisions of the Securities Law. The Jiangsu Securities Regulatory Bureau imposed a fine of 4 million yuan on the company and issued warnings and fines to the responsible individuals"
datetime: "2025-06-27T13:03:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/246434601.md)
  - [en](https://longbridge.com/en/news/246434601.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/246434601.md)
generator: "portal-rs"
---

# Jinfu Technology received an administrative penalty decision from the Jiangsu Securities Regulatory Bureau

According to the Zhitong Finance APP, Jinfu Technology (300128.SZ) announced that the company received the "Administrative Penalty Decision" issued by the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission. The decision states:

In 2021, Jinfu Technology and its subsidiary Shanghai Zhifu High Polymer Materials Co., Ltd. engaged in metal trading business with suppliers Xiamen Zhongzhi Xinlian Industrial Co., Ltd. and customers Xiamen Juyu Industrial Co., Ltd. Jinfu Technology and its subsidiary only fulfilled the obligation of advance payment and received fixed interest in this business. According to "Accounting Standard for Enterprises No. 14 - Revenue," the related income should not be included in operating revenue. Jinfu Technology did not correctly account for the aforementioned business, resulting in inflated operating revenue of 52.9388 million yuan, 111 million yuan, and 172 million yuan for the first quarter, half-year, and first three quarters of 2021, respectively, accounting for 20.02%, 21.14%, and 20.74% of the operating revenue recorded in the company's current report, leading to false records in the "2021 First Quarter Report," "2021 Half-Year Report," and "2021 Third Quarter Report" disclosed by the company. On March 19, 2022, the company disclosed the "Announcement on Correction of Previous Accounting Errors and Retrospective Adjustments," correcting the relevant financial data. The "2021 First Quarter Report," "2021 Half-Year Report," and "2021 Third Quarter Report" disclosed by Jinfu Technology contained false records, violating the relevant provisions of Article 78, Paragraph 2, and Article 84, Paragraph 1 of the "Securities Law," constituting the illegal circumstances described in Article 197, Paragraph 2 of the "Securities Law."

The Jiangsu Regulatory Bureau decided: to warn Suzhou Jinfu Technology Co., Ltd. and impose a fine of 4 million yuan; to warn Gu Qing and impose a fine of 1.2 million yuan; to warn Deng Hao and impose a fine of 1 million yuan; to warn Fang Yonggang and impose a fine of 800,000 yuan; to warn ZHANG WEI and impose a fine of 500,000 yuan

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**