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shenzhen gaming company caesar culture has been pushed to the forefront due to a financial fraud incident.

according to media reports, on the evening of september 17, caesar culture announced that the company received the "preliminary notice of administrative penalty" issued by the guangdong securities regulatory bureau on september 13.

the "notice" shows that the guangdong securities regulatory bureau found that in 2021, in order to reduce the bad debt losses of accounts receivable, caesar culture inflated its profits by 15.2467 million yuan through capital circulation, accounting for 15.55% of the total profits disclosed in the period, resulting in false statements in its 2021 annual report.

in accordance with the provisions of article 197, paragraph 2 of the securities law, the guangdong securities regulatory bureau imposed a total fine of rmb 13 million on caesar culture and the parties involved.

caesar culture announced on the same day that according to relevant regulations, the shenzhen stock exchange will implement other risk warnings for the company's stocks. the company's stocks will be suspended for one day from the opening of the market on september 18, 2024, and will resume trading from the opening of the market on september 19.

after the implementation of other risk warnings, the company's stock name was changed from "caesar culture" to "st kevin".