CSRC Announces Interim Investigation Progress of Beijing Zuojiang Technology (300799.SZ) Financial Fraud Case

According to the official website of the China Securities Regulatory Commission (CSRC) on January 30, 2023, the CSRC has launched an investigation into Beijing Zuojiang Technology (300799.SZ), a company at risk of delisting. Preliminary findings have revealed that the financial information disclosed by Beijing Zuojiang Technology in 2023 is significantly false, indicating a serious case of financial fraud. The investigation is currently ongoing, and the CSRC will promptly ascertain the illegal facts and deal with them seriously in accordance with the law. The CSRC stated that protecting the legitimate rights and interests of investors, especially small and medium-sized investors, is always the starting point and foothold of all work. The severe financial fraud committed by listed companies seriously misleads small and medium-sized investors in their trading decisions and must be severely cracked down upon. The CSRC will continue to maintain a "zero tolerance" enforcement pressure, strictly investigate all kinds of fraudulent activities, and strengthen the comprehensive accountability in administrative, civil, and criminal aspects. The delisting system will be strictly implemented to ensure that those who falsely maintain their listing will be delisted, and those who engage in fraudulent activities in the market will pay a heavy price. This article is selected from the official website of the CSRC, edited by GMTEight: Ye Zhiyuan.