The China Securities Regulatory Commission (CSRC) rigorously investigates and deals with Changsheng Bio-Technology's serious financial fraud case.

Recently, the China Securities Regulatory Commission issued an administrative penalty advance notice to the listed company Changjiang Pharmaceuticals Holding Co., Ltd. for suspected false record of financial data in the periodic reports. After investigation, *ST Changyao has inflated revenue and profits for three consecutive years, violating securities laws and regulations. The CSRC plans to impose a fine of 10 million yuan on the listed company, a total fine of 31 million yuan on 14 responsible individuals, and implement a lifetime ban on the former general manager Luo Ming from the securities market. *ST Changyao is suspected of triggering a major illegal mandatory delisting situation, and the Shenzhen Stock Exchange will initiate delisting procedures in accordance with the law. The CSRC will also conduct simultaneous checks on the practices of intermediary institutions. If any violations are found, they will be punished according to the law. Regarding potential criminal evidence, the CSRC will adhere to the principle of transferring cases where they should be transferred, strictly following the provisions of the Criminal Law and the standards for filing and prosecuting criminal cases by the Supreme People's Procuratorate and the Ministry of Public Security, and transfer them to the public security organs.