Fictitious invoice amount exceeds 700 million yuan; Nanjing Sanbao Digital has become a major tax violation and dishonest entity.

This article is sourced from: Economic Information Daily

□Reporter Feng Hao

Recently, information publicized on the official website of the State Taxation Administration shows that Nanjing Sanbao Digital Technology Co., Ltd. (referred to as “Nanjing Sanbao Digital”) has been identified as a major tax-related violation and dishonest party for issuing value-added tax (VAT) special invoices or other invoices used to obtain export tax refunds and claim tax deductions by fraud. The company’s amount involved exceeds CNY 739 million, involving 833 invoices, with total tax amount of CNY 96.05 million. The actual controlling party is Qingdao Haifa State-Owned Capital Investment and Operation Group Co., Ltd. (referred to as “Qingdao Haifa Group”), a state-owned enterprise under Qingdao municipality.

The penalty information shows that Nanjing Sanbao Digital has two core tax-violation behaviors: it had 390 VAT special invoices issued to others in its own name that did not match the actual business operations, with an amount of CNY 354.5340 million and corresponding tax amount of CNY 46.0894 million; and it had 443 VAT special invoices issued to others (for itself) in its own name that did not match the actual business operations, with an amount of CNY 384.3177 million and corresponding tax amount of CNY 49.9613 million.

Based on the above illegal acts, the tax authorities have issued clear penalties: it will be ordered to recover tax of CNY 0.2075 million (the enterprise has already self-paid the additional taxes), and a fine of CNY 0.5 million will be imposed.

A reporter from Economic Information Daily noted that behind Nanjing Sanbao Digital’s fraudulent invoice issuance, multiple Sanbao-related companies were involved in related operations. A document of the State Taxation Administration, Ning Tax Enforcement Second Punishment [2025] No. 42, shows that between 2021 and 2023, with no actual transactions, Nanjing Sanbao Digital entered into false purchase-and-sales contracts with multiple Sanbao-related enterprises, including Nanjing Haolingle and Nanjing Lekeis, for the purpose of obtaining financing loans by inflating performance. It carried out fictitious fund transfers and circular trade and issued VAT special invoices, and was fined CNY 0.5 million. The participating enterprises involved were also penalized at the same time. During this period, the legal representative of Nanjing Sanbao Digital was Sha Min, who is also the founder of the shareholder Sanbao Technology Group Co., Ltd. (referred to as “Sanbao Technology Group”).

In recent years, the control and management team of the Sanbao group have undergone significant changes. According to materials, Sha Min has gradually stepped back from day-to-day management. In November 2025, Sanbao Technology Group announced that Sha Min could not spare sufficient time to participate in the company’s day-to-day business management; therefore, he was transferred from executive director to non-executive director, and no longer served as chairman, chief administrative officer, and other core positions. Relevant positions were assumed by Liu Fei. After that, the legal representative of Nanjing Sanbao Digital was also changed from Sha Min to Ouyang Zicheng.

What contrasts with the founder gradually fading from the scene is the strengthening of Qingdao state-owned assets’ voice and influence behind the Sanbao group. According to publicly available information, Nanjing Sanbao Digital was established in July 2002, with registered capital of CNY 120 million. Its business scope includes the sale of hardware and electrical products, software technology development, import and export trade, and more. It is 100% controlled by Sanbao Technology Group. Equity look-through shows that in August 2020, Qingdao Haifa Group became the controlling shareholder of Sanbao Technology Group through capital increase and share expansion, holding 51% of the shares. It is the entity that actually controls Nanjing Sanbao Digital, and the Qingdao Municipal State-owned Assets Supervision and Administration Commission is the ultimate actual controller.

As a large state-owned enterprise under Qingdao municipality, Qingdao Haifa Group has registered capital of over CNY 10 billion and its business covers areas such as urban and rural construction, integrated development of cities and industries, and trade.