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

（Source: Economic Information Daily）

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”) was identified as a major tax-related dishonest and untrustworthy entity because it issued, in a fraudulent manner, value-added tax (VAT) special invoices or other invoices used to fraudulently obtain export tax refunds and claim tax deductions. The amount involved in the case exceeds 739 million yuan, involving 833 invoices, with total tax amounts of 96.05 million yuan. 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 directly under Qingdao’s municipal administration.

Penalty information shows that Nanjing Sanbao Digital has two core tax-related violations: issuing, for others, 390 VAT special invoices that do not match the actual business activities—amounting to 354.534 million yuan, corresponding tax amount 46.0894 million yuan; and issuing, for others (for itself), 443 VAT special invoices that do not match the actual business activities—amounting to 3843.177 million yuan, corresponding tax amount 49.9613 million yuan.

In response to the above illegal acts, the tax authorities have made clear penalties: recovering tax of 0.2075 million yuan (the company has already paid it back on its own), and imposing a fine of 5 million yuan.

The reporter from Economic Information Daily noted that behind Nanjing Sanbao Digital’s fraudulent invoicing is a series of related operations among multiple Sanbao-related companies. A document numbered Ning Shui Zi Er Fa [2025] No. 42 issued by the State Taxation Administration shows that between 2021 and 2023, without actual transactions, Nanjing Sanbao Digital entered into false purchase and sales contracts with multiple Sanbao-related companies such as Nanjing Haolingle and Nanjing Leikai Si, for the purpose of obtaining financing loans by inflating performance. It carried out false capital transactions and circular trading, issued fraudulent VAT special invoices, received a fine of 0.5 million yuan, and the relevant participating enterprises were also punished in parallel. During this period, the legal representative of Nanjing Sanbao Digital was Sha Min, who is precisely the founder of Sanbao Technology Group Co., Ltd. (referred to as “Sanbao Technology Group”), the company’s shareholder.

In recent years, there have been significant changes in control and management within the Sanbao group. According to materials, Sha Min has gradually withdrawn from day-to-day management. In November 2025, Sanbao Technology Group announced that due to the inability to set aside enough time to participate in the company’s daily operation and management, Sha Min was transferred from executive director to non-executive director, and would no longer serve as chairman, administrative chief executive, and other core positions; the relevant positions were taken over by Liu Fei. After that, the legal representative of Nanjing Sanbao Digital was also changed from Sha Min to Ouyang Ziqing.

In contrast to the founder gradually fading out, the influence of Qingdao state-owned assets behind the Sanbao group has been increasing. Public information shows that Nanjing Sanbao Digital was established in July 2002, with a registered capital of 120 million yuan. Its business scope includes sales of hardware and electrical appliances, software technology development, import and export trade, and more. It is 100% controlled by Sanbao Technology Group. Equity penetration 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 equity. It is the actual controlling entity of Nanjing Sanbao Digital, while Qingdao Municipal State-owned Assets Supervision and Administration Commission is the ultimate actual controller.

As a large state-owned enterprise directly under Qingdao’s municipal administration, Qingdao Haifa Group has registered capital of over 10 billion yuan. Its business covers areas such as urban and rural construction, urban-rural integration, trade, and more.

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