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A股又一公司财务造假被实锤,监管已明确是定期报表虚假记载。

又一创业板公司财务造假被查

最近两个交易日,创业板上市公司东方通(维权)二级市场股价连续20%跌停,引起投资者极大关注,股价跌停背后是公司因财务造假被查。

4月14日,东方通公告,因公司涉嫌定期报告等财务数据存在虚假记载被立案调查,若后续经证监会行政处罚认定的事实,触及重大违法强制退市情形,公司股票将被实施重大违法强制退市。

(东方通公告截图)

印象中证监会对上市公司立案调查的原因往往是“涉嫌信息披露违法违规”,很少有在立案调查告知书中明确“涉嫌定期报告等财务数据存在虚假记载”,这样的差别似乎预示着东方通可能存在严重的财务造假等违法行为,还有公司在公告中强调“重大违法强制退市情形”,也说明了事情的严重性。

实际上,在东方通被立案调查之前,早有财务造假迹象存在。

早在2023年1月初,东方通曾因未及时披露公司董事、副总经理曲涛被采取强制措施的信息,被深交所下发监管函。自此之后,与东方通有关的保荐代表人、律所、会计事务所等中介机构相继被北京证监局、深交所出具警示函,公司也在这期间收到整改通知。

2023年4月1日,相关签字律师因未按相关执业规则的规定,被深交所出具警示函,同日保荐机构第一创业指定的保荐代表人,未审慎核查发行人时任董事、高级管理人员是否被司法机关立案侦查,被深交所出具警示函。2023年5月15日,东方通被北京证监局出具警示函。

2024年4月29日,北京证监局对东方通2022年财报信息披露不准确行为下发整改通知,次日(2024年4月30日)收到北京证监局行政处罚决定。2024年12月13日,审计机构北京德皓国际会计师事务所及相关人员被出具警示函。2024年12月17日,审计机构大华会计师事务所及相关人员被出具警示函。

(资料来源:新浪财经)

对于上市公司来说,一般审计机构等中介机构被罚,往往都与上市公司财务数据虚假记载有关。

另外,从2024年东方通发布的一份会计差错公告可知,2022年、2023年上半年及2023年第三季度东方通披露的定期财报存在严重问题,期间各期定期财报调整前后差距巨大。

2022年财报,调整后应收账款减少1.2亿、未分配利润减少9858.06万、营业收入减少1.17亿、营业利润减少1.16亿、净利润减少9858.06万。2023年半年报,应收账款调减超1.14亿、未分配利润调减超9422.26万,利润表相关科目又有不同程度的调增。

(东方通公告截图)(东方通公告截图)

从以上东方通的会计差错报告可以看出其财报数据虚假记载的程度。一直以来,会计差错与财务造假之间往往只有一纸之隔。

6万股民损失惨重

在监管明确东方通财务虚假记载之后,也就坐实了东方通的财务造假行为,分析它的财报其实就已经没有意义了。

财报虽然失去了分析的意义,但是财务造假对东方通二级市场股价的冲击却是极其激烈的。

东方通因涉嫌定期财务数据虚假记载被立案调查后,二级市场股价至今已经连续两天20%跌停,两天跌幅已经超过36%。

从东方通股价的筹码分布来看,目前至少75%的投资者成本在星期一(4月14日)收盘价14.99元以上,经过这两天的连续跌停,买入成本在今天收盘价以上的投资者占比超过99%,所有投资者损失惨重。

(东方通股价走势截图)

截至2024年三季度末,东方通股东人数为6.07万,较2024年二季度末增长超50%,这些在2024年三季度跟着东方通上涨趋势追涨的投资者面临的处境恐怕更加严重,自2024年11月高点23.94元以来,东方通股价已经暴跌超60%。

(数据来源:通达信)

当然,现在对于这些持有东方通股票的6万多股民来说,最大的希望就是赶紧打开跌停板出逃,但目前这显然不太现实。

昨天(4月15日)第一个跌停板还有1.13%的换手率,说明还是有些人逃出去了,但今天的换手率进一步降至0.41%,散户股民出逃机会渺茫。相对而言,在被立案调查之前,4月14日东方通股票还有3.26%的换手率。

那么,持有东方通的股民目前只能含泪坚持了,没有别的办法。

原实控人曾违规超额减持

东方通的股民现在的痛苦或许也是一种教训,除了上文所提及一些东方通可能财务造假的迹象外,东方通的原实控人实际上早在5年前已经大举减持抛售,甚至不惜违规超额减持套现。

东方通是在2014年1月上市的,3年限售期一过,2017年11月-12月,原实控人张齐春、朱海东就减持超554万股套现8100多万。上市刚满4年,2018年1月张齐春就通过委托表决权的方式将实控人之位让给了股东黄永军,黄永军通过多次增持最终在2021年4月成为东方通实控人。

(东方通公告截图)

在黄永军正式成为东方通实控人之前,张齐春似乎就很急于卖出所持的东方通股票。

2020年8月13日,深交所向东方通下达的监管函显示,在2018年4月18日至2020年7月9日期间,张齐春、朱海东、朱曼通过集中竞价和大宗交易的方式合计减持1887.33万股东方通股份,占东方通总股本的6.71%,但在减持达5%时没有及时披露权益变动,也没有停止卖出东方通股票,违反了相关规定。

另外,深交所也曾在2019年7月23日向张齐春、朱海东下发监管函,2018年12月22日两人对外披露的减持计划合计不超过277万股,但最终减持279.2696万股,超额减持2.2696万股,超额减持部分涉及金额50.27万元。

(资料来源:新浪财经)(资料来源:新浪财经)

同花顺i问财数据显示,自东方通上市以来股东累计减持套现金额超29.5亿,其中原实控人张齐春、朱海东、朱曼累计套现超11.79亿,违规超额减持期间套现超9.59亿。

(数据来源:i问财、锐眼哥整理)

值得注意的是,这三人其实是一家子的关系,张齐春与朱海东为母子关系,朱海东与朱曼为夫妻关系。

(东方通招股书截图)

自这一家子违规套现之后,东方通股价基本就是一路下跌的趋势,2020年初东方通股价最高是37.74元,2024年7月底曾一度跌至7.26元的低点,较前实控人违规减持期间的高点暴跌超80%,今天收盘9.59元的股价较那时也跌了75%。

(东方通股价走势截图)

可以拿东方通上市以来的累计净利润与股东套现金额比较一下,东方通上市以来累计净利润(截至2024年3季度)为亏损超2.07亿,同期股东累计减持套现超29.5亿,这就是东方通这家公司上市以来为A股及股东创造的“价值”。

东方通财务造假、原实控人违规减持巨额套现,让股民损失惨重。东方通的资本故事再次向A股股民敲响警钟,审慎分析、理性投资才是在这个市场立足的基本法则。

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