The China Securities Regulatory Commission has seriously investigated and dealt with the serious financial fraud case of Changjiang Pharmaceutical Group (300391.SZ).

Recently, the China Securities Regulatory Commission (CSRC) has issued a prior notice of administrative punishment to Changjiang Pharmaceutical Group Co., Ltd. (referred to as Changjiang Pharmaceutical Group), a listed company, for suspected false recording of financial data in its periodic reports. It was found that Changjiang Pharmaceutical Group (300391.SZ) had fraudulently inflated its revenue and profits for three consecutive years, violating securities laws and regulations. The CSRC plans to fine the company 10 million yuan, fine a total of 31 million yuan for 14 responsible individuals, and impose a lifetime ban on the former general manager of the company, Luo Ming, from the securities market. Changjiang Pharmaceutical Group is suspected of involving serious violations that may lead to forced delisting, and the Shenzhen Stock Exchange will initiate delisting procedures in accordance with the law. The CSRC is conducting simultaneous inspections of the operation of intermediary agencies, and once any violations are found, they will be punished according to the law. For any potential criminal clues, the CSRC will adhere to the principle of transferring cases as necessary and strictly follow the provisions of the Criminal Law and the criteria for the Ministry of Public Security and the Supreme People's Procuratorate on handling criminal cases.