CSRC imposes billion-yuan fines, multiple listed companies heavily punished for financial fraud.

The China Securities Regulatory Commission issued multiple fines in one day, with many listed companies facing heavy penalties for financial fraud, and some delisted companies still unable to escape accountability. On September 12, companies such as *ST Dongtong, Lineng 5, *ST Guangdao, ST Tiansheng, *ST Xinchao, and *ST Lingda disclosed receiving administrative penalties from the China Securities Regulatory Commission on the same day, with *ST Dongtong, Lineng 5, and their executives being fined over one hundred million yuan. In recent years, regulatory authorities have continuously strengthened their zero-tolerance enforcement stance towards financial fraud by listed companies. According to incomplete statistics from reporters, many companies have received fines of over one hundred million yuan this year for significant financial fraud. Over ten companies have been fined and forced to delist due to financial fraud, and many delisted companies are still being held accountable.