Core Viewpoint - Shenzhen Tefa Information Co., Ltd. has received a criminal judgment regarding a case of contract fraud and embezzlement involving its acquisition of Shenzhen Tefa Dongzhi Technology Co., Ltd. The company is currently in the position of the victim in this case, and the impact on its profits remains uncertain [2][5]. Group 1: Case Details - The case involves defendants Chen Chuanrong, Yi Zongxiang, Liu Ying, Wang Ling, and Liu Bing, with Shenzhen Tefa Information being the victim [2][3]. - The company was informed of the investigation by the Shenzhen Public Security Bureau on July 18, 2022, leading to the prosecution by the Shenzhen People's Procuratorate [2][3]. Group 2: Judgment Outcomes - The court found that the defendants committed contract fraud by using financial deception to illegally obtain property from Tefa Information, with the total amount involved being particularly large [3]. - The judgment includes the recovery of criminal proceeds from the defendants, totaling approximately RMB 144,962,570.45 (after deductions), along with additional amounts from other defendants [3]. Group 3: Future Implications - The current judgment is a first-instance ruling and has not yet taken effect, leaving the final outcome and its implications for the company's profits uncertain [5]. - The company will continue to disclose information regarding the case's progress as necessary [5].
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