On the evening of 28th, Zhangzi Island released the third quarter report of 2020. In the first three quarters, the company realized a revenue of 1.469 billion yuan, a year-on-year decrease of 26.96%; the net profit attributable to the shareholders of the listed company was 23.516 million yuan, with a year-on-year increase of 169.11%; the net profit attributable to the shareholders of the listed company after deducting non recurring profit and loss was – 109 million yuan, with a year-on-year decrease of 134.33%. In addition, the company’s revenue in the third quarter was 452 million yuan, a year-on-year decrease of 37.39%; the net profit attributable to shareholders of listed companies was – 16.459 million yuan, a year-on-year decrease of 57.69%. < p > < p > prior to that, Zhangzi Island released the performance forecast for the first three quarters of 2020. During the reporting period, affected by the epidemic situation at home and abroad and market environment changes, the company’s aquatic processing and aquaculture products business income and income level decreased; the market price of imported processing and export products fell, and provision for impairment of some raw materials inventory was made; and the operating performance of marine seed industry products increased In the first half of the year, the income of non recurring profit and loss items, such as the transfer of some sea area use right related assets and the transfer of equity of subsidiaries, is relatively high. Affected by the above factors, the company is expected to make a profit of 20-30 million yuan in the first three quarters, turning losses into profits on a year-on-year basis. < p > < p > on June 15, this year, China Securities Regulatory Commission (CSRC) made a decision on administrative punishment and market ban on Zhangzidao and related personnel suspected of violating securities laws and regulations. According to the CSRC, Zhangzidao’s false increase in profits in 2016 was 130 million yuan, accounting for 158% of the total profits disclosed in the current period; in 2017, the virtual profit decreased by 280 million yuan, accounting for 39% of the total profits disclosed in the current period. Zhangzidao’s above-mentioned behavior is suspected to constitute the crime of illegal disclosure and non disclosure of important information. On September 11, the China Securities Regulatory Commission (CSRC) said that in accordance with the provisions on the transfer of suspected criminal cases by administrative law enforcement agencies (Order No. 310 of the State Council), it decided to transfer Zhangzidao and related personnel suspected of securities crimes to public security organs for criminal responsibility. < p > < p > on October 15, 2020, in view of the punishment result of the CSRC, Zhangzidao said that the detailed speed, course, track and other data of each production vessel at sea had not been obtained from the Beidou signal query platform open to the public, and it was unable to trace and confirm the relevant detailed data related to the situation of “virtual reduction” or “virtual increase”. Therefore, based on the investigation results of the CSRC, the company corrected the accounting errors in the relevant periodic reports of 2016 and 2017 involving financial fraud. In terms of secondary market, Zhangzidao 28 Daily reported 3.67 yuan / share, down 1.61% and 28.88% in recent 60 days, with a total market value of 2.6 billion yuan. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.