# China securities enforcement

China’s E‑Paper Champion Faces Regulator’s Scissors: Investigation and Asset Freezes Threaten Qingyue’s Survival

China’s securities regulator has opened a formal investigation into Qingyue Technology over alleged false financial reporting and has frozen key securities and fundraising bank accounts. The probe follows prior warnings about misuse of raised funds, undisclosed related‑party deals and a disputed export‑tax rebate, and raises the spectre of forced delisting amid weak industry conditions and strained company finances.