Core Viewpoint - The ongoing legal case against Beijing Oriental Communication Technology Co., Ltd. (referred to as Oriental Communication or *ST Dongtong) involves allegations of false statements in securities disclosures, leading to significant financial penalties and potential investor compensation claims [1][2][3] Group 1: Allegations of False Financial Reporting - Oriental Communication is accused of falsifying financial data in its annual reports from 2019 to 2022, inflating revenues by amounts of 61.45 million, 84.85 million, 125.51 million, and 160.53 million yuan, which represented 12.29%, 13.25%, 14.54%, and 17.68% of reported revenues for those years respectively [1] - The company also allegedly inflated profits by 52.23 million, 58.77 million, 79.48 million, and 123.69 million yuan during the same period, accounting for 34.11%, 22.72%, 30.35%, and 219.43% of reported profits respectively [1] Group 2: Securities Issuance Misrepresentation - Oriental Communication is reported to have fabricated significant false content in its securities issuance documents, particularly in the fundraising prospectus submitted between June and November 2022, which included false financial data from its annual reports [2] - The company disclosed a total of 106,024,096 shares issued, raising approximately 2.20 billion yuan, based on the previously mentioned inflated financial figures [2] Group 3: Regulatory Actions and Investor Rights - The China Securities Regulatory Commission (CSRC) plans to impose a fine of 229 million yuan on Oriental Communication and a 26.5 million yuan fine on its actual controller, Huang Yongjun, along with a 10-year market ban for him [2] - Investors who suffered losses due to the alleged false statements can file compensation claims, with eligibility for claims set for those who purchased shares between April 29, 2020, and April 14, 2025, and still held them by the latter date [3]
东方通股民索赔持续推进 又有股民提交起诉