Zhong Guo Jing Ji Wang·2025-12-12 07:13Core Viewpoint - The company, Tefa Information (000070.SZ), has received a criminal judgment regarding a case of contract fraud and embezzlement related to its acquisition of Shenzhen Tefa Dongzhi Technology Co., Ltd. [1][2] Group 1: Criminal Judgment Details - The Guangdong Province Shenzhen Intermediate People's Court issued a criminal judgment against four defendants for committing contract fraud and embezzlement, resulting in significant financial losses for the company [2]. - The total amount involved in the fraud is particularly large, with the judgment ordering the recovery of approximately RMB 144.96 million (after deducting compensation) from the main perpetrator, Chen Chuanrong [2]. - Additional recoveries include RMB 2.76 million from Chen Chuanrong and Liu Bing for embezzlement, RMB 21.55 million from Yi Zongxiang, and RMB 4.18 million from Liu Ying [2]. Group 2: Company’s Position and Future Implications - The company is currently the victim in this case, and the judgment is only a first-instance ruling, meaning it has not yet taken effect, leaving the final outcome uncertain [3]. - The company has stated that, apart from the disclosed litigation and arbitration matters, there are no other undisclosed legal issues [2][3]. - The company will continue to fulfill its information disclosure obligations as the case progresses, indicating a commitment to transparency for investors [3].