SI Development was heavily fined for multiple violations of law. Suspected of inflating income by more than 4.7 billion yuan in 6 years.
SI Development plans to be fined RMB 8.5 million for allegedly failing to promptly disclose expected losses in operating results, failing to disclose important contracts in a timely manner, and containing false records in six consecutive annual reports. The executives involved were also fined accordingly. After the release of the "Notification", the stock price of SI Development has recently fluctuated on the stock market.