Dongfang Tong: May be forced to delist due to financial fraud, stock faces additional risk warnings

On September 12, 2025, Beijing Dongfang Tong Technology Co., Ltd. announced that it was placed under investigation by the China Securities Regulatory Commission on April 14 for suspected false reporting of financial data in periodic reports. The company has now received a "Notice of Administrative Penalty Pre-Decision." From 2019 to 2022, the company inflated its revenue by 61.451 million yuan, 84.8506 million yuan, 125.5058 million yuan, and 160.5295 million yuan, respectively, through fictitious business activities via its subsidiaries, resulting in inflated profits of 52.2279 million yuan, 58.7742 million yuan, 79.4822 million yuan, and 123.6920 million yuan, respectively. The issuance of shares to specific targets in 2022 constituted fraudulent issuance. Starting from September 15, the company's stock will be subject to a delisting risk warning, with the abbreviation remaining as "*ST Dongtong," and a price fluctuation limit of 20%. If it triggers circumstances for mandatory delisting due to serious violations, the stock will be terminated from listing