CDT has been fined 10 million yuan by the Anhui Securities Regulatory Bureau for three consecutive years of financial fraud, and the Shenzhen Stock Exchange has initiated delisting procedures

The China Securities Regulatory Commission announced that it has recently imposed administrative penalties and pre-notification of market entry bans on the listed company LiFangShuKe (300344.SZ) for suspected false records in its periodic financial reports.

According to investigations, LiFangShuKe inflated its revenue by a total of 638 million yuan and costs by 628 million yuan from 2021 to 2023 through agency business, financing trade, and false trade practices. LiFangShuKe has continuously inflated its revenue and costs for three consecutive years, seriously violating securities laws and regulations. The Anhui Securities Regulatory Bureau intends to impose a fine of 10 million yuan on LiFangShuKe and a total fine of 30 million yuan on 10 responsible persons including Wang Yi. LiFangShuKe is suspected of triggering circumstances for mandatory delisting due to serious violations, and the Shenzhen Stock Exchange will initiate delisting procedures in accordance with the law.

At the same time, the China Securities Regulatory Commission has decided to formally investigate the accounting firm involved in this case for its professional conduct, and those suspected of failing to perform due diligence will be severely punished according to the law. Regarding clues related to potential securities crimes arising from the relevant illegal activities, the China Securities Regulatory Commission will adhere to the principle of transferring all applicable cases to the public security authorities in accordance with the law and regulations