ST Qingyue fined 172 million yuan for suspected fraudulent issuance and illegal letter disclosure

On the evening of October 14th, Qingyue Technology disclosed that it had received administrative penalties from the China Securities Regulatory Commission. It was fined 172 million yuan for fraudulent issuance and information disclosure violations. The Shanghai Stock Exchange publicly condemned it and banned it from submitting issuance applications for five years. The company and related parties are promoting the establishment of a preliminary compensation fund funded by the actual controller, and the listed company will not participate in the compensation. Financial data shows that the company had a revenue of 276 million yuan and a loss of 229 million yuan in the first half of the year. On the morning of October 15th, the company responded that its operations were normal and its current total market value was 260 million yuan.