Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2019
Administrative Penalty for Delayed Periodic Reports After Investigation into Inaccurate Inventory Data
In 2018, Fushun Special Steel conducted an investigation after discovering that inventory and other assets were misstated, and failed to disclose its 2017 annual report and 2018 first-quarter report on time. In 2019, the CSRC imposed penalties on the company and 17 responsible persons. This entry strictly concerns the penalty for delayed disclosure and does not mischaracterize that document as the final penalty in a financial fraud case.
2019
Company and Responsible Persons Penalized for Long-Term Financial Window-Dressing Through Inflated Inventory and Other Means
In 2019, in a separate case, the CSRC found that Fushun Special Steel had misstated its financial reports for multiple periods by adjusting inventory, costs, and other items, and imposed penalties on the company and the responsible persons. This entry concerns the financial fraud decision [2019] No. 147, which is distinct from the penalty for delayed periodic reports under No. 33.