The results of the survey will be announced in a year or so. First of all, because the law does not clearly stipulate how long it will take for the CSRC to produce results after filing an investigation. The second is also related to the illegal matters involved. If the matter is particularly complicated, it may take longer to investigate. In recent years, most cases have been investigated within a year or so. Most of the cases in which listed companies are put on file for investigation will end up with administrative punishment, and only a few of them are found not to have violated the rules. Generally speaking, information disclosure violations are not a big problem. Even if it is verified, the punishment is generally to order the company to correct the illegal behavior, give a warning and impose a fine. What is more serious is public condemnation.

Legal basis:

People's Republic of China (PRC) Securities Law

Article 2 This Law shall apply to the issuance and trading of stocks, corporate bonds, depositary receipts and other securities legally recognized by the State Council within the territory of People's Republic of China (PRC). Matters not covered by this Law shall be governed by the Company Law of People's Republic of China (PRC) and other laws and administrative regulations. This Law shall apply to the listing and trading of government bonds and securities investment fund shares; Where other laws and administrative regulations provide otherwise, such provisions shall prevail. Measures for the administration of issuance and trading of asset-backed securities and asset management products shall be formulated by the State Council in accordance with the principles of this Law. Securities issuance and trading activities inside and outside People's Republic of China (PRC), which disturb the market order in People's Republic of China (PRC) and damage the legitimate rights and interests of domestic investors, shall be handled in accordance with the relevant provisions of this Law, and legal responsibilities shall be investigated.

Article 3 The issuance and trading of securities must follow the principles of openness, fairness and impartiality.