The Research On Financial Manipulation Of "SHEN XIAN YUAN" Listed By New Three Board

In recent years the new three board market development is very rapid.In 2016,the new three board market to accelerate the expansion,financing scale and listing number to further enhance,as of the end of 2016,the number of enterprises in the new three board has soared to 10163,Which base layer 9211,952 innovation layer.China's multi-level capital market hub of the new three board not only connected to China's regional equity transfer market and the exchange market,will also be through China's multi-level capital market.The new three board market will have a great role in promoting China's capital market reform process.The new three board market has no threshold for corporate profits,reporting process is relatively short,more flexible financing and other characteristics.According to the new three board market listing standards,even if the loss of business,can also be listed,because the new three board market for more emphasis on the future of the enterprise.The new three board market not only broaden the financing channels for small and medium enterprises,but also help enterprises improve their capital structure and follow-up development.With the new three board team has grown,coupled with the new three board development time is short,the regulatory policy is not perfect and strict,and in the new three board listing are some small and medium enterprises,so the new three board enterprise financial also appears a lot of non-standard phenomenon.The new three board enterprise "SHEN XIAN YUAN" was punished by the SFC,because the financial fraud,less cost savings profits,and there are some financial manipulation,the report has a false record.In order to study the motivations of financial manipulation of "SHEN XIAN YUAN" and put forward some suggestions on how to prevent financial manipulation.In this paper,the new three board and the motherboard for comparison,mainly in the listing conditions,trading rules,regulatory requirements,risk warning,information disclosure,delisting conditions,the main investment and so on.This paper analyzes the financial situation and financial manipulation of the new three board enterprise,and analyzes the motives of financial manipulation.It can be seen that the new board is different from the motherboard in terms of listing conditions,financing mode and supervision system,so the new three board and the motherboard financial manipulation of some of the same,but the new three board financial manipulation there are some special reasons.Finally,some suggestions are put forward to avoid and reduce the financial manipulation of the new three board.