Core Viewpoint - The actual controller of Jia Lin Jie, Li Zhaoting, has been detained by the police, but the company asserts that its control and operations remain unaffected [2][4]. Company Overview - Jia Lin Jie (002486.SZ) has received notification from Dongxu Group regarding the detention of its actual controller, Li Zhaoting, as of February 13, 2026 [2]. - The company emphasizes that it has not been requested to assist in any investigations and that its control has not changed [2]. - Li Zhaoting is not holding any position within the company, and all board members and senior management are performing their duties normally [2]. Financial Performance - For the first three quarters of 2025, Jia Lin Jie reported revenue of 918 million yuan, representing a year-on-year increase of 3.49% [6]. - The net profit attributable to the parent company was 52 million yuan, showing a significant year-on-year growth of 205.46% [6]. Shareholding Structure - Dongxu Group controls over 21% of Jia Lin Jie through direct holdings and its wholly-owned subsidiary, Shanghai Guojun Investment Co., Ltd. [2][3]. - The shareholding structure indicates a deep financial connection between Dongxu Group and Jia Lin Jie [2]. Market Context - As of February 13, 2026, Jia Lin Jie’s stock price increased by 0.32%, closing at 3.16 yuan per share [7]. - The company is the last remaining listed entity in the "Dongxu system," as Dongxu Optoelectronics and Dongxu Lantian have both been delisted [6].

Core Viewpoint - The sudden detention of Li Zhaoting, the actual controller of Jialinjie, has caused significant turmoil in the capital market, marking a critical moment in the ongoing issues surrounding the "Dongxu System" and its financial scandals [3][11]. Group 1: Company Overview - Jialinjie (002486.SZ) is currently the only remaining A-share listed company under the "Dongxu System," which has seen the collapse of its other major entities, Dongxu Optoelectronics and Dongxu Lantian [3][10]. - The company specializes in the production and sales of high-end fabric and garments, reporting a revenue of 918 million yuan and a net profit of approximately 51.99 million yuan for the first three quarters of 2025 [5][18]. Group 2: Li Zhaoting's Background and Legal Issues - Li Zhaoting, born in July 1965, was once a prominent figure in the photovoltaic industry and the creator of the "Dongxu System," which peaked with a wealth of 23.5 billion yuan in 2019 [3][16]. - This is not the first time Li has faced regulatory scrutiny; he was previously investigated for information disclosure violations and fined 589 million yuan by the Hebei Securities Regulatory Bureau, resulting in a lifetime ban from the securities market [5][18]. Group 3: The "Dongxu System" Collapse - The "Dongxu System," once a benchmark for private enterprises in Hebei, has faced a significant decline due to high debts and ongoing scandals, with its empire crumbling from a peak of success [6][19]. - Dongxu Optoelectronics, a core platform of the "Dongxu System," was heavily impacted by financial fraud, inflating revenues by 16.76 billion yuan and profits by 5.63 billion yuan from 2015 to 2019 [8][21]. - Dongxu Lantian, initially part of the "Dongxu System," has since distanced itself due to ongoing losses and has become a marginal enterprise [9][22]. Group 4: Market Response and Company Actions - Following Li Zhaoting's detention, Jialinjie quickly issued a statement to distance itself from Li and the "Dongxu System," asserting that he does not hold any position in the company and that operations remain normal [5][18]. - The company emphasized that it has not been asked to assist in any investigations and that control of the company has not changed [5][18].

Group 1 - The core issue revolves around severe financial fraud by Dongxu Optoelectronics and its parent company, Dongxu Group, leading to a total of 645.85 billion yuan in inflated revenue and a fine of 1.7 billion yuan, affecting over 100,000 investors [1][5] - Regulatory authorities have confirmed that from 2015 to 2019, Dongxu Group inflated its revenue by 478.25 billion yuan and profits by 130.01 billion yuan, while Dongxu Optoelectronics inflated its revenue by 167.6 billion yuan and profits by 56.27 billion yuan [1][5] - The fraudulent activities included illegal fundraising of 75.65 billion yuan in 2017 and 3.5 billion yuan in corporate bonds in 2018 [1][5] Group 2 - Despite the delisting of Dongxu Optoelectronics, investors are still eligible to claim compensation under the Securities Law of the People's Republic of China, which holds information disclosers accountable for losses caused by false information [2][6] - Investors who purchased shares between February 15, 2016, and July 5, 2024, and sold or still hold shares with losses after September 7, 2024, can register for compensation, as the statute of limitations has not yet expired [4][7] - The ongoing issue of financial fraud in the capital market not only harms investor interests but also undermines market fairness and transparency, with eligible investors entitled to claim losses, including differences in investment, commission, stamp duty losses, and corresponding interest [4][7]

Core Viewpoint - Dongxu Optoelectronics Technology Co., Ltd. has been penalized by the China Securities Regulatory Commission (CSRC) for financial fraud, including inflating revenue and profits, and failing to disclose significant guarantees and lawsuits, leading to a change in its stock designation to "ST Dongxu" starting September 30, 2024 [1][4]. Summary by Sections Financial Misconduct - Between 2019 and 2022, Dongxu Optoelectronics engaged in financial misconduct by inflating revenue and profits, and underreporting asset impairment losses, resulting in false records in annual reports [1][4]. - The company also failed to timely disclose major guarantees and significant litigation, constituting multiple violations of information disclosure regulations [1][4]. Regulatory Actions - The CSRC has issued warnings and fines to the company and several responsible individuals, with some facing market entry bans [1][4]. - Starting September 30, 2024, the company's stock will be subject to additional risk warnings, and its stock name will change to "ST Dongxu" [1][4]. Investor Compensation - Investors who suffered losses due to Dongxu Optoelectronics' false statements can file lawsuits for compensation, as per the Securities Law and relevant judicial interpretations [1][4]. - The preliminary conditions for compensation include purchasing Dongxu Optoelectronics stock between February 15, 2016, and July 5, 2024, and selling or holding the stock after July 5, 2024 [2][4]. - Required documentation for claims includes original trading statements, copies of the investor's ID, confirmation of the securities account, and contact information [2][4].

Core Viewpoint - Dongxu Optoelectronics Technology Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to potential compensation claims from investors [1][2][6]. Group 1: Company Announcement - On July 5, 2024, Dongxu Optoelectronics announced that it received a notice of investigation from the CSRC due to suspected violations of information disclosure regulations [1][6]. - The company stated that it will actively cooperate with the CSRC during the investigation and will adhere to regulatory disclosure requirements [6][7]. - As of the announcement date, the company has not received a final conclusion from the CSRC regarding the investigation [6][7]. Group 2: Investor Compensation - Investors who purchased Dongxu Optoelectronics stock between February 15, 2016, and July 5, 2024, and still held the stock as of the market close on July 5, 2024, may be eligible for compensation [2][7]. - Required materials for compensation claims include: 1. Original stock transaction statements stamped by the brokerage [2][7]. 2. A photocopy of the investor's ID card [3]. 3. A securities account information confirmation issued by the brokerage [4][7]. - The final scope of compensation will be determined by court rulings [2][5].

Group 1 - The Hebei Shijiazhuang Intermediate People's Court has announced a representative lawsuit registration notice regarding ST Xudong, indicating that 11 investors have initiated legal action for securities misrepresentation [1] - The court's announcement specifies the rights holders' scope, registration period, and methods for investors who purchased ST Xudong shares between February 15, 2016, and July 5, 2024 [1] - Investors who meet the criteria can register their claims by January 8, 2026, through the designated online platform [1] Group 2 - The China Securities Investor Service Center will continue to support the lawsuit and actively promote the representative lawsuit process, providing updates through various channels [2]

Core Viewpoint - The case involves a representative lawsuit filed by 11 investors against multiple defendants, including Eastsun Group and Eastsun Optoelectronics, for alleged false statements that led to investment losses. The court has established a rights registration process for affected investors to join the lawsuit [1][2][32]. Group 1: Case Background - The lawsuit was initiated on April 1, 2025, by plaintiffs Wu Caiquan and Xiao Jianhui, representing 11 investors against defendants including Li Zhaoting, Guo Xuan, and Eastsun Group [1][2]. - The court decided to apply the ordinary representative lawsuit procedure on August 8, 2025, and confirmed the scope of rights holders [2][39]. - The case involves allegations of false statements made by Eastsun Optoelectronics, which has since been delisted, and the plaintiffs claim to have suffered losses due to these misrepresentations [32][60]. Group 2: Defendants - The defendants include individuals and companies, such as Eastsun Group, Eastsun Optoelectronics, and various financial institutions and accounting firms [1][4][16]. - Notable defendants include Li Zhaoting (Chairman of Eastsun Group), Guo Xuan (Chairman of Eastsun Optoelectronics), and several other individuals associated with the companies [4][58][59]. Group 3: Rights Registration - The rights registration period for affected investors is set from December 10, 2025, to January 8, 2026, allowing those who purchased Eastsun Optoelectronics shares between February 15, 2016, and July 5, 2024, to register [33][62]. - Investors can register through the court's online platform, and there is no prepayment required for case acceptance fees [63][66]. Group 4: Representative Selection - The plaintiffs have selected Wu Caiquan and Xiao Jianhui as the proposed representatives for the lawsuit, with the support of the China Securities Investor Service Center [36][65]. - Investors who wish to contest the selection of representatives or join the lawsuit must submit written objections during the registration period [65].

Core Viewpoint - The China Securities Investor Service Center supports 11 investors in a lawsuit against ST Xudong for false statements, which has been accepted by the Shijiazhuang Intermediate People's Court [1][2]. Group 1: Lawsuit Details - The Shijiazhuang Intermediate People's Court issued a public announcement on December 9, 2025, regarding the representative lawsuit, detailing the scope of rights holders, registration period, and registration methods [1][2]. - The rights holders are defined as investors who purchased Dongxu Optoelectronics stock (original stock code: 000413) through public bidding from February 15, 2016, to July 5, 2024, and still held the stock at the close of trading on July 5, 2024, with similar claims [1][2]. Group 2: Registration Process - Eligible investors must register their claims by January 8, 2026, through the Shijiazhuang Intermediate People's Court's securities dispute litigation intelligent review platform [1][2]. - The court's consultation phone number is provided for inquiries [1][2]. Group 3: Ongoing Support - The China Securities Investor Service Center will continue to fulfill its responsibilities in supporting the lawsuit and will provide updates on the litigation progress through various platforms [2][3].

Core Viewpoint - CITIC Securities' subsidiary, CITIC Securities South China Co., Ltd. (formerly "Guangzhou Securities"), has been named a defendant in a lawsuit related to false statements made by Dongxu Optoelectronics, with the case set to proceed under a representative litigation process [1][4]. Group 1: Case Background - The lawsuit stems from projects undertaken by Guangzhou Securities prior to its acquisition by CITIC Securities, with potential losses already considered before the acquisition [3][5]. - The plaintiffs, consisting of 11 investors, allege that Dongxu Optoelectronics, which has been delisted, made false statements in its annual reports from 2015 to 2022 and failed to disclose its 2023 annual report on time [4][5]. - The total amount claimed by the plaintiffs is 1.8282 million yuan, with the lawsuit seeking joint liability from other defendants, including CITIC Securities South China [5]. Group 2: Regulatory Environment - Regulatory authorities have maintained a "zero tolerance" stance towards financial fraud and deceptive issuance practices, as evidenced by the penalties imposed on Dongxu Optoelectronics, which exceeded 420 million yuan [6][8]. - The case highlights the responsibilities of securities firms as gatekeepers in the capital market, emphasizing the need for strict compliance and risk management to ensure sustainable business development and market stability [9][10]. Group 3: Recommendations for Securities Firms - Securities firms are advised to establish comprehensive verification mechanisms, conduct thorough analyses of financial data, and implement robust internal controls to fulfill their gatekeeping responsibilities effectively [10][11][12]. - Continuous monitoring and risk management post-issuance are essential to ensure compliance with fundraising usage [12][13].

Core Viewpoint - CITIC Securities' subsidiary, CITIC Securities South China Co., Ltd., is involved in a lawsuit related to the alleged fraud case of Dongxu Optoelectronics, with a total claim amount of 1.8282 million yuan [2][3] Group 1: Lawsuit Details - The lawsuit involves 11 securities investors as plaintiffs, with CITIC Securities South China Co., Ltd. being one of 37 defendants, including Dongxu Optoelectronics and Dongxu Group [2] - The claims are based on alleged false statements made by Dongxu Optoelectronics in its annual reports from 2015 to 2022, and its fraudulent stock issuance in 2017 [2][3] - The plaintiffs seek compensation for economic losses totaling 1,828,167.34 yuan, with a request for joint liability from all defendants, including CITIC Securities South China Co., Ltd. [3] Group 2: Impact on CITIC Securities - CITIC Securities stated that the potential losses related to this lawsuit were fully considered prior to the acquisition of Guangzhou Securities, indicating no significant impact on current or future profits [2][5] - The acquisition of Guangzhou Securities was completed in 2020, and the company reported a revenue of 1.113 billion yuan in 2024, reflecting a growth of 33.95% [5] - Following the acquisition, CITIC Securities is undergoing adjustments to its business scope, including a reduction in core services to address potential conflicts of interest or competition [6]