Helitai Technology Co., Ltd. (Helitai), a listed company in the field of computer, communication, and other electronic equipment manufacturing, has been altering its financial statements for five consecutive years, resulting in the implementation of additional risk warnings on its stock. As a consequence of this financial misconduct, the stock abbreviation has been changed from Helitai to ST Helitai, and several high-ranking officials of the company have been penalized.
According to the announcement released by Helitai regarding the company and related parties receiving a “Notice of Administrative Penalty Notice,” it was revealed that the company “falsified or understated operating income, inflated the profits for the years 2017 to 2019, and deflated the profits for the years 2020 and 2021.”
The announcement specified that during the years 2017 to 2019 and 2021, the company artificially inflated profits by amounts totaling 677,617,174.65 yuan, 661,249,236.86 yuan, 501,088,976 yuan, and 29,598,127.78 yuan, respectively. Additionally, profits for the year 2020 were falsely deflated by a total of 895,415,117.95 yuan.
Due to the financial irregularities, the company has been fined 9 million yuan, while seven individuals responsible for the misconduct have received fines ranging from 4.5 million to 1 million yuan each.
On the same day, Helitai also issued an announcement about the implementation of additional risk warnings and the suspension and resumption of stock trading. The company stated that its stock will be suspended from trading for one day starting on June 22, 2026 (Monday) and will resume trading on June 23, 2026 (Tuesday). Following this, the stock abbreviation will be changed to “ST Helitai,” and the securities code will remain as “002217,” with a new daily trading limit of 5%.
Public records reveal that Helitai Technology Co., Ltd. was established on April 30, 2003, and is headquartered in Putian City, Fujian Province. The company, listed on the Shenzhen Stock Exchange on February 20, 2008, primarily engages in the manufacturing of computers, communication devices, and other electronic equipment.
Despite an increase in revenue of approximately 8.35% in the first quarter of 2026, Helitai still faces a situation of revenue growth without an increase in profits. The financial report for the first quarter of 2026 shows a revenue of around 396 million yuan, a net profit attributable to shareholders of the listed company of approximately 827,600 yuan, and a net loss excluding non-recurring gains and losses of 237,400 yuan.
In 2025, Helitai achieved a revenue of 1.685 billion yuan, representing a growth of 27.02%, while the net profit attributable to the parent company decreased by 98.50% to 22.7233 million yuan.
Chinese netizens have expressed dissatisfaction with the frequent incidences of financial fraud in listed companies and the regulatory authorities’ practice of resolving these issues through fines alone.
A netizen named “左撇子” commented, “Financial fraud should be punished with heavy penalties like in the United States, and individuals involved should be banned for life from participating in the stock market.”
Another user, nma5_sw from Tencent, questioned: “Isn’t this just fraud? Why are they only fined?”
As of the closing of A-shares market on June 18th at 3:00 PM, Helitai’s stock price stood at 2.53 yuan per share, a decline of 4.89%, with a total market value of 23.784 billion yuan.