Zhuolang Technology's significant illegal forced delisting risk finally has a clear statement, with annual reports from 2019 to 2023 consecutively falsifying information for 5 years. According to the conclusion of the formal penalty decision, the company has triggered the circumstances for significant illegal forced delisting, and its stock will be terminated from listing (delisted). On October 31, Zhuolang Technology's stock will be suspended for 1 day, and on November 1, it will resume trading with a delisting risk warning, changing the stock abbreviation to '*ST Zhuolang'. Previously, Zhuolang Technology had issued multiple updates on case developments and risk warnings.
On the evening of October 30, Zhuolang Technology announced that it had received the (advance notice of administrative penalty) from the China Securities Regulatory Commission. Zhuolang Technology stated that on March 14, 2024, it received the (case notification) from the China Securities Regulatory Commission due to the company's suspected illegal information disclosure. On October 30, 2024, the company received the (advance notice of administrative penalty) from the China Securities Regulatory Commission. The China Securities Regulatory Commission stated that from 2019 to 2023, Zhuolang Technology's subsidiary, Tianjin Zhuolang Development, fabricated server, software, and system integration service sales businesses, artificially inflating revenue and profits.
Zhuolang Technology's annual reports from 2019 to 2023 contain false records. Additionally, the total amount of falsely recorded operating revenue for 2021 and 2022 reached 994.7428 million yuan, accounting for 57.85% of the total disclosed annual operating revenue for those two years. The total amount of falsely recorded profit reached 695.7469 million yuan, accounting for 56.31% of the total disclosed annual profit for those two years.
