Core Viewpoint - The article discusses the recent release of ten cases related to securities false statements by the Shanghai Financial Court and the Shanghai Securities Regulatory Bureau, providing clear guidelines for market participants regarding responsibilities and behaviors that may violate disclosure regulations [3][4]. Group 1: Case Summaries - The ten cases involve several listed companies, including *ST Jintai, Zhong An Ke, Shanghai Electric, and others, as well as delisted companies like退市富控 and *ST Ba'an [4]. - The five judicial cases focus on issues such as "deceptive" share buybacks, the identification of predictive information, and the application of "safe harbor" rules, with examples of both responsible and non-responsible parties [5]. - In the case of *ST Jintai, executives made false promises regarding share buybacks, leading to a court ruling that required them to compensate investors approximately 780,000 yuan [6]. - Shanghai Electric was found liable for failing to disclose performance losses in a timely manner, resulting in a false annual report, and was not granted exemption under the "predictive information safe harbor" rule [6]. - In the Zhong An Ke financial fraud case, three internal directors were held partially responsible for relying excessively on intermediaries, while three independent directors were exempted from liability [6]. - The case involving ST Xingyue highlighted that significant events affecting stock trading could sever the causal link for false statement claims, leading to the rejection of investor compensation requests [7]. Group 2: Regulatory Enforcement - The Shanghai Securities Regulatory Bureau's enforcement cases focus on frequent violations such as "shell protection" financial fraud, performance-related financial manipulation, and insider trading [7]. - Specific cases include violations by *ST Jintai executives regarding share buyback commitments, financial fraud by subsidiaries of Shanghai Shimao, and illegal share reductions by controlling shareholders of Feikai Materials [7]. - The regulatory approach emphasizes strict enforcement and increased penalties for key individuals involved in financial fraud, with notable penalties imposed on executives from退市富控 and *ST Ba'an [10]. Group 3: Legal and Regulatory Developments - Recent judicial practices have introduced new legal issues, including the application of laws across different market segments and the identification of predictive information [9]. - The article highlights the need for clarity in the legal responsibilities of public commitments made by company executives and the importance of not evading disclosure obligations under the guise of predictive information [10]. - The Shanghai Financial Court reported handling 18,040 securities false statement cases with a total amount of 7.646 billion yuan, indicating a significant number of investors involved [11].

Core Viewpoint - The Shanghai Financial Court and the Shanghai Securities Regulatory Bureau have released ten cases related to securities false statements, providing clear guidelines for market participants regarding responsibilities and behaviors that may violate information disclosure regulations [1][2]. Group 1: Key Cases and Responsibilities - The five typical cases of securities false statement responsibility disputes focus on issues such as "deceptive" share buybacks, the identification of predictive information, and the application of "safe harbor" rules [2][5]. - In the case of *ST Jintai, executives were found liable for false statements due to unfulfilled share buyback commitments, resulting in compensation of approximately 780,000 yuan to investors [2][4]. - Shanghai Electric was held responsible for failing to timely disclose performance losses and inaccurately measuring expected credit losses, leading to a false record in its 2020 annual report [2][3]. Group 2: Regulatory Enforcement and Penalties - The Shanghai Securities Regulatory Bureau has emphasized strict enforcement and increased penalties for frequent violations such as financial fraud and misuse of control rights [3][6]. - Notable penalties include a fine of 7.67 million yuan for the controlling shareholder of Feikai Materials for illegal share reductions and a 4 million yuan fine for the chairman of a subsidiary of Shanghai Shihua for financial fraud [6][4]. - The report indicates that as of December 2024, the Shanghai Financial Court has accepted 18,040 cases of securities false statement disputes, with a total amount in dispute of 7.646 billion yuan and 26,956 investors involved [6][7]. Group 3: Legal and Judicial Developments - New types of disputes have emerged in judicial practice, including the legal applicability of different market segments and the identification of responsibilities for predictive information [5][6]. - The report highlights the challenges in civil compensation cases related to false statements, particularly in the context of ongoing administrative investigations or criminal investigations [7]. - The need for improved coordination between civil lawsuits, administrative penalties, and criminal accountability is emphasized to enhance the effectiveness of investor protection [7].

Core Viewpoint - The company Feikai Materials (300398) is facing intense market competition in the PCB ink sector and plans to focus on the development and application of high value-added products [1] Group 1 - The company has acknowledged the competitive landscape of the PCB ink market [1] - Future strategies will involve the introduction of high value-added products [1]

证券日报网讯飞凯材料（300398）8月19日在互动平台回答投资者提问时表示，目前公司产品产能充 足，后续将随客户订单量的变动调配产能与稼动率。 ...

Core Viewpoint - The company is actively adopting lean production concepts and smart manufacturing technologies to optimize production processes, enhance efficiency, and reduce unit production costs, thereby improving market price competitiveness [1] Group 1 - The company aims to enhance its comprehensive strength and risk resistance capabilities by seeking strategic cooperation opportunities with other advantageous enterprises [1] - The integration of resources through complementary advantages is a key strategy for the company to strengthen its position in the industry [1]

证券日报网讯飞凯材料（300398）8月19日在互动平台回答投资者提问时表示，公司始终致力于为高科 技制造提供优质材料，其中国产替代是重要的实现路径之一，公司四大业务板块的核心产品，均遵循国 产替代的逻辑进行开发与导入，未来，公司将继续坚持自主研发与外延并购相结合的策略，聚焦核心主 业，致力于提升整体盈利能力。 ...

（文章来源：证券日报） 证券日报网讯飞凯材料8月19日在互动平台回答投资者提问时表示，截至2025年7月31日，公司股东人数 为57950户。 ...

证券日报网讯飞凯材料8月19日在互动平台回答投资者提问时表示，目前公司已建立成熟的成本控制与 供应链管理体系，并积极推进产业链的延伸布局。以液晶单晶为例，针对一些用量大，外购成本高的单 晶，公司通常会选择自主生产，在保证供应链稳定性的同时，拥有更显著的成本优势。 （文章来源：证券日报） ...

证券日报网讯飞凯材料8月19日在互动平台回答投资者提问时表示，公司的i线光刻胶和Barc光刻配套材 料已经在半导体客户端稳定供货，价格会随市场需求、成本等进行动态调整。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯飞凯材料8月19日在互动平台回答投资者提问时表示，公司半导体材料领域客户主要为大 型封装测试厂商，鉴于商业保密原则，公司不便披露具体客户信息。 ...