立方数科被预处罚，股民索赔可期

Core Viewpoint - Cube Science and Technology Co., Ltd. (ST Cube) is facing administrative penalties and potential delisting risks due to violations related to false financial reporting and inflated revenue figures from 2021 to 2023 [1][2]. Group 1: Administrative Penalties - The China Securities Regulatory Commission (CSRC) has identified that ST Cube inflated its operating income and costs through various fraudulent activities, leading to false disclosures in its annual reports for 2021 to 2023 [2]. - In 2021, ST Cube inflated its operating income by approximately 279.73 million yuan, accounting for 50.09% of that year's revenue, and inflated operating costs by about 277.11 million yuan, which was 60.61% of the total costs [2]. - For 2022, the inflated operating income was around 311.86 million yuan (51.67% of revenue) and inflated costs were about 305.46 million yuan (53.54% of costs) [2]. - In 2023, the company inflated its operating income by approximately 45.87 million yuan (24.00% of revenue) and operating costs by about 45.23 million yuan (27.55% of costs) [2]. - The CSRC plans to impose corrective measures, warnings, and fines on ST Cube and responsible personnel [2]. Group 2: Legal Implications for Investors - Investors who suffered losses due to ST Cube's fraudulent activities may seek civil compensation, which includes investment differences, commissions, stamp duties, and interest losses [3]. - A lawyer from Shanghai Hanlian Law Firm is collecting claims from investors who purchased ST Cube's securities between April 25, 2022, and April 28, 2025, and either sold or held them after April 29, 2025 [3]. - The conditions for claims may be adjusted based on the final conclusions of the CSRC's administrative penalties and court rulings [3][4]. Group 3: Litigation Process - While investors can file lawsuits without an administrative penalty decision, the lack of a formal ruling may increase the risk of losing the case [4]. - The outcome of ST Cube's potential delisting may not affect the progress of civil claims, but entering bankruptcy proceedings could significantly impact litigation timelines [4]. - Investors must provide specific documentation, including identification, securities account information, and transaction records, to register for claims [4].