Core Viewpoint - The first-instance judgment of the Jin Tong Ling Securities false statement liability dispute has been announced, with the Nanjing Intermediate Court ordering Jin Tong Ling to compensate over 43,000 investors nearly 775 million yuan and bear related legal fees [1][3] Group 1: Legal Proceedings and Outcomes - The court will continue to hear civil compensation claims against 25 other defendants, including Everbright Securities, with a separate judgment document to be issued [3] - The China Securities Regulatory Commission (CSRC) highlighted that the Jin Tong Ling case is a significant application of the special representative litigation procedure, following previous cases like Kangmei Pharmaceutical and Zeda Yisheng [4] - The special representative litigation system is seen as an effective legal mechanism to deter potential violations in the securities market and to facilitate collective investor rights protection [7] Group 2: Regulatory Actions and Penalties - Four securities firms and one accounting firm have faced penalties due to the long-term financial fraud by Jin Tong Ling, which spanned six years [8] - Specific penalties include warning letters for Everbright Securities and its personnel, as well as regulatory measures for Guohai Securities and Huaxi Securities, with the latter also facing a six-month suspension of its sponsorship business [9] - The accounting firm, Dahuasheng, was fined a total of 44.02 million yuan and suspended from providing securities services for six months due to its involvement in the fraudulent activities [10] Group 3: Financial Impact of Fraud - Jin Tong Ling's financial manipulation resulted in a total of over 1.1 billion yuan in inflated revenue and over 400 million yuan in inflated profits across several years, with significant discrepancies in reported profits [10] - The manipulation rates for the years involved were alarmingly high, with profit inflation reaching over 5774% in 2020, indicating severe violations of investor rights and financial integrity [10]

Core Viewpoint - The article discusses the first-instance judgment of the Jin Tong Ling Securities false statement liability dispute, where the Nanjing Intermediate Court ordered Jin Tong Ling to compensate over 43,300 investors nearly 775 million yuan in losses, along with related legal fees and case acceptance fees [1][4]. Group 1: Legal Proceedings and Outcomes - The court will continue to hear civil compensation claims against Everbright Securities and 25 other defendants, with a separate ruling document to be produced [4]. - The China Securities Regulatory Commission (CSRC) highlighted that the Jin Tong Ling case is the latest to apply the special representative litigation procedure, following similar cases like Kangmei Pharmaceutical and Zeda Yisheng [5]. - The CSRC emphasized the effectiveness of the special representative litigation system in collectively protecting investors' rights and deterring potential violations in the securities market [8]. Group 2: Financial Implications and Penalties - Jin Tong Ling's financial fraud spanned six years, leading to penalties for four securities firms and one accounting firm involved [12]. - The Jiangsu Securities Regulatory Bureau issued seven fines against the involved firms and personnel, with specific penalties including warning letters and suspensions of business qualifications [13]. - The audit intermediary, Dahua, faced a total fine of 44.02 million yuan and a six-month suspension from providing securities services due to severe financial manipulation by Jin Tong Ling [14]. Group 3: Financial Manipulation Details - Jin Tong Ling's fraudulent activities resulted in a total of over 1.1 billion yuan in inflated revenue and over 400 million yuan in inflated profits across several years, with significant discrepancies in reported profits [14]. - The manipulation of profits was particularly severe in 2019, where the profit reduction exceeded 57 times, indicating a high level of concealment and severity of the fraudulent behavior [14].

金通灵表示，法院裁定公司进入重整程序后，公司仍存在因重整失败而被宣告破产的风险。如后续被宣 告破产，公司将被实施破产清算，根据《上市规则》第10.4.18条的规定，公司股票将面临被终止上市的 风险。公司将持续关注重整事项进展情况，严格按照相关法律法规及时履行信息披露义务。 北京商报讯（记者 马换换 王蔓蕾）12月31日晚间，金通灵（300091）披露公告称，因公司被法院裁定 受理重整，公司股票于2026年1月5日停牌一天，自2026年1月6日开市起复牌。自2026年1月6日开市起， 公司股票交易被实施退市风险警示，股票简称由"金通灵"变更为"*ST金灵"，证券代码仍为"300091"， 股票日涨跌幅限制仍为20%。 ...

2025年12月31日，江苏省南京市中级人民法院（简称南京中院）对中证中小投资者服务中心有限责任公 司（简称中证投服中心）提起的金通灵特别代表人诉讼作出先行判决。为帮助投资者了解判决情况，查 询判赔结果，现将相关事项公告如下。 一、判决主要内容 需要说明的是，根据判决，本案部分适格投资者经依法组织损失测算后认定没有因虚假陈述而实际发生 损失，相关应获赔偿金额为0。 二、投资者查询方式 1.南京法院"证券群体性纠纷案件智审平台" 为便于原告查询具体应获赔偿金额，南京中院提供以下查询方式：自然人投资者和非自然人投资者通过 电脑登录南京法院"证券群体性纠纷案件智审平台"（https://wskt.njfy.gov.cn/caseweb/#/zjjfpt），点选页 面右上角"登录"后，选择"赔偿金额查询"入口进行查询。 2.中国投资者网"证券代表人诉讼投资者征集系统"微信小程序端 鉴于金通灵科技集团股份有限公司（简称金通灵公司）因案涉虚假陈述给原告造成损失的事实已经查 清，根据《中华人民共和国民事诉讼法》第一百五十六条"人民法院审理案件，其中一部分事实已经清 楚，可以就该部分先行判决"之规定，南京中院对原告要求金通灵 ...

Core Viewpoint - The Nanjing Intermediate People's Court ruled in favor of over 43,000 investors in the Jin Tong Ling (300091) securities fraud case, awarding them over 770 million yuan in compensation, marking a significant step in the enforcement of collective litigation in China's capital markets [1][2] Group 1: Legal Proceedings and Outcomes - The court's ruling is a preliminary judgment that establishes the company's liability for compensation, while the responsibilities of the company's former executives and related intermediaries will be determined in a separate ruling [1] - Jin Tong Ling has been found to have engaged in financial fraud for six consecutive years, inflating revenue by over 1.3 billion yuan and profits by 500 million yuan, and is currently undergoing bankruptcy reorganization [2] - The ruling highlights the effectiveness of the special representative litigation system in increasing the costs of illegal activities in the capital market and protecting the rights of small and medium investors [2] Group 2: Investor Protection and Institutional Role - Investor protection agencies have actively fulfilled their responsibilities in the representative litigation, including assessing eligible plaintiffs and preparing legal arguments [3][4] - The China Securities Investor Services Center has increased its support for ordinary representative litigation, with five cases being accepted by various courts, enhancing the collaborative effect of different types of representative litigation [5] Group 3: Company Financial Impact and Future Actions - Jin Tong Ling announced that it will recognize estimated liabilities based on the court's ruling, which will significantly impact the company's current and future profits [6] - The company plans to implement a debt repayment scheme through cash and debt-equity swaps as part of its reorganization process, aiming to improve compensation capabilities for small investors [7][8] Group 4: Regulatory and Market Context - The case is part of a broader trend of increasing regulatory scrutiny and enforcement against fraudulent activities in the capital markets, following similar cases like Kangmei Pharmaceutical and Zeda Yisheng [9] - The China Securities Regulatory Commission supports the implementation of the special representative litigation system as a means to effectively protect investor rights and maintain market integrity [9][12]

Core Viewpoint - The company, Jintongling (300091.SZ), has been accepted for reorganization by the Nantong Intermediate People's Court, leading to a temporary suspension of its stock trading and a subsequent risk warning designation [1] Group 1: Court Decision and Stock Trading - On December 31, 2025, the Nantong Intermediate People's Court delivered a civil ruling accepting the reorganization application for the company [1] - The company's stock was suspended for one day on January 5, 2026, and resumed trading on January 6, 2026 [1] - From January 6, 2026, the company's stock will be subject to a delisting risk warning, with the stock name changed from "Jintongling" to "*ST Jintongling" [1] Group 2: Stock Trading Restrictions - The daily price fluctuation limit for the company's stock remains at 20% following the reorganization announcement [1]

智通财经APP讯，金通灵(300091.SZ)公告，公司于2025年12月31日收到南通市中级人民法院送达的《民 事裁定书》，法院裁定受理申请人对公司的重整申请。因公司被法院裁定受理重整，公司股票于2026年 1月5日停牌一天，自2026年1月6日开市起复牌。自2026年1月6日开市起，公司股票交易被实施退市风险 警示，股票简称由"金通灵"变更为"*ST金灵"，股票日涨跌幅限制仍为20%。 ...

格隆汇12月31日｜华西证券公告，其作为金通灵科技证券虚假陈述责任纠纷案共同被告之一，2025年12 月31日，南京中院就本案对金通灵公司作出先行判决，判决金通灵公司赔偿43269名投资者投资损失 7.75亿元，给付原告代表人律师费25万元，驳回50835名投资者其他诉讼请求，案件受理费391.57万元由 金通灵公司负担。南京中院将继续审理原告要求其他25名被告担责诉求，公司未收到涉己判决，暂无法 判断对利润影响。 ...

人民财讯12月31日电，金通灵（300091）12月31日公告，公司于12月31日收到南通市中级人民法院送达 的《民事裁定书》，南通中院裁定受理申请人对公司的重整申请。因公司被法院裁定受理重整，公司股 票于2026年1月5日停牌一天，自1月6日复牌起被实施退市风险警示，股票简称变更为"*ST金灵"，股票 日涨跌幅限制仍为20%。 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is actively supporting the implementation of representative litigation procedures to protect investors' rights, particularly in cases of securities fraud, as demonstrated by recent court rulings and the establishment of compensation funds [1][2][3]. Group 1: Representative Litigation Cases - The Jin Tong Ling case has resulted in a first-instance judgment ordering compensation of over 770 million yuan to more than 43,000 investors, primarily individual investors [1]. - The Jin Tong Ling case is the third instance of a representative litigation ruling following the Kangmei Pharmaceutical and Zeda Yisheng cases, showcasing the effectiveness of this legal mechanism in protecting investor rights [2]. - The Shenyang Intermediate Court has initiated the representative litigation process for the Jinzhou Port securities fraud case, marking the fifth instance of such litigation in the capital market [2]. Group 2: Support for Investor Protection - The CSRC will continue to support the Investor Service Center in its legal role to represent investors in civil litigation and to facilitate the judicial process [3]. - The establishment of a special compensation fund of 210 million yuan for the Guangdao Digital case demonstrates the proactive measures being taken to address investor losses and facilitate settlements [4]. - The CSRC encourages market institutions to voluntarily engage in advance compensation efforts as part of a diversified dispute resolution mechanism under the Securities Law [5].