Chinese optical storage company Amethystum Storage Technology (AST) listed on the Shanghai exchange on in February 2020. The first signs of trouble started in January 2021 when the company suddenly changed auditors. When the annual report was published in April, the new auditors qualified the accounts with regards to prepayments and receivables. This led to questions from the stock exchange in May 2021 and a regulatory investigation in February 2022. In November, the regulator released the results of its investigation which showed that AST had inflated profits by at least 60% between FY17 and FY19, and by 151% in FY20. AST and its executives were fined with the company's shares delisted in July 2023.

Last updated September 2023

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