DFSS(SH:603377) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-24 12:40Core Viewpoint - The case involving ST Dongshi (603377.SH) and its former chairman Xu Xiong, who was convicted of manipulating the securities market, has concluded with a final court ruling upholding a six-and-a-half-year prison sentence and a fine of 170 million yuan [1][7]. Group 1: Legal Proceedings - Xu Xiong's appeal against his conviction for market manipulation was rejected by the Supreme Court, confirming his sentence and the confiscation of illegal gains [1][7]. - The case began in September 2023 when ST Dongshi announced Xu's arrest for market manipulation [7]. Group 2: Corporate Governance Changes - Following Xu Xiong's inability to fulfill his duties, his brother Xu Jinsong was appointed as chairman, but the company experienced internal turmoil during this transition [7]. - Xu Jinsong was later removed from his position as chairman in February 2025 due to the company's deteriorating operational conditions and management issues [8]. Group 3: Financial Performance - ST Dongshi has reported a projected net loss of 600 million to 700 million yuan for 2025, marking its fourth consecutive year of losses [9]. - The company's stock closed at 3.89 yuan per share on January 23, 2025, reflecting a decline of 0.26% [9].