The China Securities Regulatory Commission has issued a prior administrative penalty notice in the financial fraud case involving Suzhou Qingyue Optoelectronics Technology Co., Ltd. It found that Qingyue Technology inflated profits in 2021, 2022 and its 2023 interim report, giving rise to suspected fraudulent issuance and illegal disclosure in periodic reports. Proposed sanctions include a CNY 172.88 million fine for the listed company, CNY 33 million in aggregate fines for four responsible individuals, and securities market bans of four to eight years. The case is also considered to potentially meet the threshold for mandatory delisting for major violations, and the Shanghai Stock Exchange will initiate the delisting process in accordance with law. The commission has frozen accounts linked to the company’s offering proceeds and is investigating the conduct of the intermediaries involved. Any clues that may involve criminal offences will be transferred to the public security authorities under the relevant criminal law and case filing standards. GF Securities, Lixin Certified Public Accountants and the company’s actual controller have publicly stated that they will provide advance compensation to eligible investors who suffered losses, with support services to be arranged through an investor protection institution. Further information will be released through channels including a dedicated section on the China Securities Investor Protection Fund website.
China Securities Regulatory Commission 2026-05-08
China Securities Regulatory Commission proposes CNY 205.88 million in fines and market bans for Qingyue Technology financial fraud with delisting process to follow
The China Securities Regulatory Commission has issued a prior administrative penalty notice against Suzhou Qingyue Optoelectronics Technology Co., Ltd. for inflating profits in 2021, 2022 and its 2023 interim report, citing suspected fraudulent issuance and illegal disclosure. Proposed measures include fines totalling CNY 205.88 million on the company and four individuals, securities market bans of four to eight years, potential mandatory delisting by the Shanghai Stock Exchange, and investigations into intermediaries, with any suspected criminal offences to be referred to public security authorities.