Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2018
Kunming Machine Tool fined for inflating revenue by about RMB 483 million
The CSRC found that from 2013 to 2015 Kunming Machine Tool inflated revenue by about RMB 483 million through cross-period recognition, fictitious transactions and raising contract prices, and also understated employee benefits and remuneration. The company was ordered to correct, warned and fined RMB 600,000, and relevant responsible persons were punished separately. Status: CSRC administrative penalty decision. Entity involved: Shenji Group Kunming Machine Tool Co., Ltd.
2018
Financial fraud: RMB 483 million in inflated revenue
From 2013 to 2015, Kunming Machine Tool inflated revenue by RMB 483 million through fictitious contracts and early revenue recognition. The CSRC fined it RMB 600,000; Chairman Wang Xing was banned from the market for life, and the general manager and CFO were banned for five years; the company was later delisted.