Shenzhen Stock Exchange Delists Yuandao Communication Over IPO Fraud
The Shenzhen Stock Exchange (SZSE) announced the termination of listing for Yuandao Communication Co., Ltd. after the China Securities Regulatory Commission (CSRC) found false records in its IPO disclosure documents. The company inflated revenue from 2019 to 2022 through fabricated work orders. The stock will enter a 15-trading-day delisting adjustment period starting September 30, 2026, before formal removal.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
Shenzhen Stock Exchange Announces Delisting of Yuandao Communication Shares
On September 22, the Shenzhen Stock Exchange (SZSE) issued an announcement stating that the shares of Yuandao Communication Co., Ltd. (元道通信股份有限公司) have been terminated from listing. The decision marks the end of the company's public trading on the exchange. No further details regarding the reasons for the delisting or the company's future plans were provided in the brief announcement. The delisting is a significant corporate event for Yuandao Communication, a firm previously listed on the SZSE. The exchange's action follows standard procedures for stock termination, which can result from various factors including failure to meet listing requirements, voluntary withdrawal, or regulatory actions. Investors holding shares in the company will need to follow the exchange's delisting procedures for any potential trading or settlement arrangements.
Read sourceShenzhen Stock Exchange Delists Yuandao Communication Over False IPO Filings
On September 22, the Shenzhen Stock Exchange (SZSE) announced the delisting of Yuandao Communication Co., Ltd. The decision follows an administrative penalty imposed by the China Securities Regulatory Commission (CSRC) after finding that the company's initial public offering (IPO) disclosure documents contained false records. According to relevant regulations and the review opinion of the listing committee, the SZSE decided to terminate the listing of the company's shares. The stock will enter a delisting adjustment period starting September 30, 2026, lasting 15 trading days, and will be formally removed from the exchange on the next trading day after the period ends.
Read sourceShenzhen Stock Exchange Delists Yuandao Communication Over IPO Fraud
On September 22, the Shenzhen Stock Exchange (SZSE) announced the termination of listing for Yuandao Communication Co., Ltd. The decision follows a China Securities Regulatory Commission (CSRC) administrative penalty issued on August 28, 2026, which found that the company's initial public offering (IPO) disclosure documents contained false records. The CSRC penalized the company under Article 181 of the Securities Law. The SZSE determined that the company violated delisting conditions under Articles 10.5.1 and 10.5.2 of its Growth Enterprise Market (GEM) listing rules. The stock will enter a 15-trading-day delisting adjustment period starting September 30, 2026, after which the exchange will remove the stock from listing. The SZSE has instructed the company to comply with all procedures during and after the delisting period.
Read sourceShow 3 older updatesHide older updates
China's *ST Yuandao Communication Faces Mandatory Delisting for Financial Fraud
According to a report from East Money News, citing Securities Times, *ST Yuandao Communication (formerly Yuandao Communication) is facing mandatory delisting from the Shenzhen Stock Exchange due to major violations. The company received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) on May 8, 2026, which found that from 2019 to 2021, *ST Yuandao inflated its operating revenue by 65.9 million yuan, 161 million yuan, and 264 million yuan respectively through fabricated work orders. These amounts represented 8.75%, 13.12%, and 16.23% of the revenues disclosed in its IPO prospectus drafts. The CSRC determined that the company made major false statements in its securities issuance documents, triggering mandatory delisting rules. The stock was placed under delisting risk warning on May 12, 2026, changing its ticker to *ST Yuandao. On August 28, the company received the final penalty decision, and trading was suspended from August 31. The Shenzhen Stock Exchange is expected to issue a termination notice within 15 trading days. On its last trading day, August 28, the stock closed at 3.31 yuan per share, down 5.7%.
Read sourceShenzhen Stock Exchange Delists Yuandao Communication Over False IPO Filings
The Shenzhen Stock Exchange (SZSE) announced the termination of listing for Yuandao Communication Co., Ltd. (元道通信股份有限公司) after the company was found to have included false records in its initial public offering (IPO) disclosure documents. The China Securities Regulatory Commission (CSRC) imposed administrative penalties on the company for the violation. Based on the relevant regulations and the review opinion of the listing review committee, the SZSE decided to delist the company's stock. The stock will enter a 15-trading-day delisting adjustment period starting September 30, 2026, and will be formally removed from the exchange on the next trading day after that period ends.
Read sourceChina's *ST Yuandao to Be Delisted for IPO Fraud and Financial Misconduct
On September 21, *ST Yuandao (元道通信) announced that the Shenzhen Stock Exchange (SZSE) has decided to terminate its listing due to false records in its initial public offering (IPO) disclosure documents, triggering a mandatory delisting under the ChiNext board rules. The company's stock will resume trading on September 30, 2026, entering a 15-trading-day delisting adjustment period, with the final trading day expected to be October 27. *ST Yuandao, a national telecommunications service provider founded in 2008, was listed on the ChiNext board in July 2022. In July 2025, the China Securities Regulatory Commission (CSRC) launched an investigation into suspected false financial data in its annual reports. On May 8, 2026, the CSRC announced that the company had inflated revenue from 2019 to 2022, involving fraudulent issuance and periodic report violations. The regulator proposed a fine of 239 million yuan on the company and 18 million yuan on three responsible individuals, along with a five-year market ban. The CSRC's penalty notice confirmed that from 2019 to 2021, Yuandao inflated revenue by 65.9 million yuan, 161 million yuan, and 264 million yuan respectively, representing 8.75%, 13.12%, and 16.23% of the revenue disclosed in its prospectus. In 2022, it further inflated revenue by 166 million yuan, or 7.87% of its annual report. The company's stock was suspended on August 31, 2026, pending the delisting decision.
Read source