What are the ways of financial fraud of listed companies?

(1) Fictitious economic business artificially inflated the business and benefits of listed companies. For example, some joint-stock restructuring enterprises, because their main business income and profits are less than 70%, use their main business income and profits to "reinvent themselves" by selling goods to affiliated enterprises at high prices.

(2) Purchase and sale activities, asset replacement and equity replacement are conducted in a way that is much higher or lower than the market price. As mentioned above, the case of asset reorganization.

(3) Entrusting operations or entrusting operations in the form of drought and flood protection to improve the operating performance of listed companies. For example, XX joint-stock company, which was widely reported in the securities press recently, contracted a farm to an affiliated enterprise at a cost of 8 million yuan, and made a profit of 72 million yuan in less than one year.

(4) Trading funds at low interest rate or high interest rate, and adjusting financial expenses. For example, XX Co., Ltd. borrowed 654.38+02 billion yuan from its affiliated enterprises (accounting for 69% of its total assets). Although we are not sure whether its loan interest rate is reasonable, one thing is certain: the profits of joint-stock companies mainly come from interest income from capital transactions with affiliated enterprises.

(5) Adjust profits by collecting or paying management fees or sharing the same expenses. For example, XX Group Company 1997 paid more than 45 million yuan for its listed companies, on the grounds that the advertisements made by listed companies also helped to enhance the corporate image of the whole group.