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(photo courtesy of visual china)

september 10th news (reporter wang wanying) due to the "frozen qualifications" of the accounting firm tianzhi international (hereinafter referred to as "tianzhi international"), the issuance and listing review of china fortune securities, which is actively preparing for its ipo, was terminated by the shanghai stock exchange.

recently, the china securities regulatory commission has taken regulatory measures to restrict tianzhi international's business activities. administrative penalty information shows that because tianzhi international failed to perform due diligence in the annual report audit of jiangxi qixin group co., ltd., and forged, tampered with, and destroyed audit working papers, the china securities regulatory commission decided to order tianzhi international to correct its mistakes, confiscate its business income of 3.6792 million yuan, impose a fine of 23.3962 million yuan, and suspend its securities service business for 6 months.

the reporter noticed that at present, the status of many projects provided by tianzhi international is shown as "suspended for review", and multiple ipo projects are implicated, including caixin securities, tianfulong, bibet, yousheng shares, gaotai electronics, shaanxi hydropower, beidou institute and many other companies, whose ipo review status applied for by the shanghai stock exchange has been changed to "suspended".

it is worth noting that this is not the first time that caixin securities has suspended its ipo. previously, the company's ipo was suspended for three months due to expired financial reports. according to public information, caixin securities' ipo application was accepted and inquired in march 2023. in march of the following year, the review was suspended due to expired financial reports, and the updated information was not restored until june.