Zitong Financial App NewsFreebonuscasino, widely known as far away (600771)FreebonuscasinoSH) announcement, on April 10, 2024, the company and related parties received the "Administrative penalty decision" and the "Market ban decision" issued by the Shanxi Regulatory Bureau of China Securities Regulatory Commission ("Shanxi Securities Regulatory Bureau").

It has been found out that the company and related parties have the following illegal facts: the disclosure of the "buyout sales" model of the company's annual report from 2016 to 2021 is not true. Under the circumstances of the agreement between the subsidiary Shanxi Guangyu Yuan National Pharmaceutical Co., Ltd. ("Shanxi Guangyuyuan") and some downstream commercial companies that "the products are unsalable and short-term, and can be returned unconditionally", press the goods to some downstream commercial companies. Abuse the accounting policy of "recognition of revenue as soon as it comes out of the warehouse" to recognize the sales income in advance, at the same time, the sales expenses are not handled correctly, and some of the sales expenses are inaccurate during the attribution period or the accounting treatment does not comply with the provisions of the accounting standards of enterprises. The above situation led to false records in the company's annual report from 2016 to 2022 and semi-annual report in 2023.

It is reported that the Shanxi Securities Supervision Bureau decided to give a warning to the company and imposed a fine of 8 million yuan, while the then chairman Zhang Bin and others were warned and fined respectively. In addition, because of Zhang Bin's serious violation of the law, he was banned from the securities market for 10 years. During the period of prohibition, except that he shall not continue to hold the post of director, supervisor or senior manager of the original securities issuer, nor shall heFreebonuscasinoIn any institution, he is engaged in securities business, securities service business or serves as a director, supervisor or senior manager of other securities issuers.