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<ul><li>A semiconductor company sponsored by China International Capital Corp. Ltd. (CICC), one of the country’s top investment banks, has been fined over IPO application fraud, the China Securities Regulatory Commission (CSRC) said in a statement Friday.</li><li>S2C Ltd., which specializes in electronic design automation, has been fined 4 million yuan ($563,095) for fraudulent activities in its attempt to list on Shanghai’s tech-heavy STAR Market.</li><li>The move marks the CSRC’s latest effort to enforce strict information disclosure requirements and tough penalties for market violations under its registration-based IPO <a href="https://www.caixinglobal.com/2023-02-02/china-rolls-out-registration-based-ipo-rules-across-market-101993861.html" target="_blank" rel="noopener">mechanism</a>.</li></ul>

A semiconductor company sponsored by China International Capital Corp. Ltd. (CICC), one of the country’s top investment banks, has been fined over IPO application fraud, the China Securities Regulatory Commission (CSRC) said in a statement Friday.S2C Ltd., which specializes in electronic design automation, has been fined 4 million yuan ($563,095) for fraudulent activities in its attempt to list on Shanghai’s tech-heavy STAR Market.The move marks the CSRC’s latest effort to enforce strict information disclosure requirements and tough penalties for market violations under its registration-based IPO mechanism.

CICC-Backed Chinese Chip Design Firm Fined Over Fraudulent IPO Application 

S2C Limited

CICC-Backed Chinese Chip Design Firm Fined Over Fraudulent IPO Application