Core Points - The lawsuit for investor compensation against Yili Clean Energy (600277) due to false statements has been resubmitted to the court, with ongoing efforts to accept more claims from investors [1][2] - The company has been found to have committed financial fraud from 2016 to 2022, including inflating profits, assets, and revenues through various deceptive practices [1][2] - The company provided guarantees to its controlling shareholder and related parties, and facilitated fund transfers through various financial agreements [2] Financial Misconduct - From 2016 to 2022, Yili Clean Energy inflated profits by amounts ranging from 1,928.89 thousand to 8,268.53 thousand, which represented 3.76% to 9.37% of the reported profit totals for those years [1] - The company also inflated assets by amounts ranging from 70,010.00 thousand to 311,519.33 thousand, accounting for 2.06% to 8.49% of the reported total assets [1] - Revenue was inflated by amounts ranging from 70,879.63 thousand to 354,577.68 thousand, representing 5.70% to 22.62% of the reported revenue [1] Legal Context - Investors who purchased Yili Clean Energy stock between April 18, 2017, and April 24, 2024, may still initiate claims based on the identified violations [2] - The statute of limitations for claims against Poly Union (002037) is running out, with some cases already reaching settlement agreements [2][3] - Poly Union was found to have understated bad debt provisions, leading to inflated net profits in 2019, 2020, and 2021, with the latter year showing a 124.47% overstatement of net profit [2]

Core Insights - Tianyi Shangjia (688033) investor compensation case has been officially filed in Shanghai Financial Court, with ongoing acceptance of claims from other investors [1] - Guandian Defense (688287) investor compensation case has also been filed, with the firm continuing to accept claims from investors [2] Summary by Relevant Sections Tianyi Shangjia (688033) - The company received a warning letter from Beijing Securities Regulatory Bureau for delayed disclosure of significant events related to its actual controller [1] - Investors who purchased Tianyi Shangjia shares between March 13 and March 15, 2024, and sold or held them after March 15, 2024, may still file for compensation [1] Guandian Defense (688287) - The company was penalized for failing to disclose related party transactions and guarantees, leading to significant omissions in its reports [2] - Investors who bought Guandian Defense shares between May 25, 2022, and April 30, 2024, and sold or held them after April 30, 2024, are eligible to initiate compensation claims [2]

Core Points - The ongoing investor compensation cases against Guanghui Logistics (600603) and Gome Communication (600898) due to false statements are being actively pursued [1][2] - Guanghui Logistics has been found to have inflated its revenue, costs, and profits through fraudulent practices, significantly affecting its financial reports for 2022 and the first half of 2023 [1] - Gome Communication has also been implicated in false reporting, with its 2020 annual report showing inflated revenue and costs, as well as fraudulent stock issuance [3][4] Guanghui Logistics (600603) - Guanghui Logistics has received an administrative penalty from the China Securities Regulatory Commission (CSRC) for falsifying delivery documents to prematurely recognize real estate revenue [1] - The company inflated its 2022 revenue by approximately 2.89 billion yuan, which accounted for 57.65% of the reported revenue, and inflated its profit by about 622 million yuan, representing 78.52% of the reported profit [1] - For the first half of 2023, the company inflated its revenue by approximately 265 million yuan, which was 19.23% of the reported revenue, and inflated its profit by about 55 million yuan, accounting for 15.98% of the reported profit [1] Gome Communication (600898) - Gome Communication has been found to have false entries in its 2020 annual report, inflating revenue by approximately 57.82 million yuan and costs by about 57.46 million yuan, which represented 61.53% and 62.18% of the respective totals [3] - The company’s 2020 non-public stock issuance has been classified as fraudulent [3] - The 2021 annual report also contained false entries, with a net profit overstatement of approximately 1.96 million yuan, which was 38.35% of the reported net profit [3][4]

Core Points - Starlight Agricultural Machinery (603789) is facing a lawsuit for alleged false statements, with the China Securities Regulatory Commission (CSRC) initiating an investigation due to suspected violations of information disclosure laws [1] - Qingdao Zhongcheng (300208) is also under scrutiny for false reporting in its annual reports from 2017 to 2022, with specific issues related to revenue recognition in its wind and solar projects [1][2] Summary by Category Starlight Agricultural Machinery - The CSRC issued a notice of investigation on September 30, 2025, regarding Starlight Agricultural Machinery for suspected violations of the Securities Law and Administrative Penalty Law [1] - Investors who purchased Starlight Agricultural Machinery shares before September 30, 2025, and sold or held them afterward may initiate claims for compensation [1] Qingdao Zhongcheng - Qingdao Zhongcheng received a notice of administrative penalty from the CSRC on April 30, 2025, detailing false records in its financial statements from 2017 to 2022 [1] - The company falsely recognized revenue and profits from its wind and solar projects, and failed to write off certain mining rights that were revoked or expired [1] - Investors who bought Qingdao Zhongcheng shares between April 25, 2018, and April 29, 2024, and sold or held them afterward are eligible to file claims [2]

Group 1 - The ongoing investor compensation cases for Aolian Electronics (300585) and Southern Precision (002553) are progressing, with eligible investors advised to stay alert [1][2] - Aolian Electronics received an administrative penalty decision from the China Securities Regulatory Commission (CSRC) on April 7, 2024, due to misleading statements regarding its performance in the perovskite sector [1] - Investors who purchased Aolian Electronics stock between December 12, 2022, and February 21, 2023, and sold or held the stock after February 21, 2023, may still initiate claims, with less than five months remaining in the statute of limitations [1] Group 2 - The investor compensation case for Southern Precision has been filed multiple times in court, awaiting further arrangements [2] - On July 10, 2023, Southern Precision received an administrative regulatory decision from the Jiangsu Securities Regulatory Bureau due to inaccurate information regarding its humanoid robot business, which led to abnormal stock price fluctuations [2] - Investors who bought Southern Precision stock between June 20, 2023, and July 5, 2023, and sold or held the stock after July 5, 2023, may also initiate claims [2]

Core Viewpoint - The company, Zhengping Road and Bridge Construction Co., Ltd. (*ST Zhengping*), has announced a stock trading risk warning and will suspend trading for up to five days due to a significant stock price increase of 101.86% from September 1 to September 30, 2025, which deviates sharply from the Shanghai Composite Index and the construction industry [2] Company Overview - Zhengping was established on March 18, 1996, with a registered capital of 699.62337 million RMB, and is headquartered in Xining, Qinghai Province [3][4] - The company specializes in infrastructure construction, cultural tourism, and non-ferrous metal mining [4] - The current chairman is Tian Shisheng, and the company has 955 employees [4] Financial Performance - The company's revenue for 2024 and Q2 2025 was 1.362 billion RMB and 344 million RMB, reflecting year-on-year declines of 28.53% and 37.77% respectively [4] - The net profit attributable to shareholders for the same periods was -484 million RMB and -88.12 million RMB, with year-on-year changes of 8.97% and -12.40% respectively [4] - The company's asset-liability ratios were 90.92%, 90.60%, and 92.22% for the respective periods [4] Regulatory Issues - The company faces delisting risks due to an audit report for the 2024 annual report that could not express an opinion, and it has been placed under delisting risk warning [2] - On March 29, 2024, the company received an administrative penalty from the Qinghai Securities Regulatory Bureau, which included a fine of 1.5 million RMB [3] Risk Factors - The company has significant operational risks, including insufficient mineral resource extraction capacity and unresolved non-operating fund occupation [2] - The company has a total of 497 internal risk alerts and 821 external risk alerts, indicating a high level of risk exposure [4]

Core Viewpoint - The company, Tongda Co., Ltd., is facing regulatory scrutiny from the Henan Securities Regulatory Bureau due to several compliance issues, including improper use of raised funds and inaccurate accounting practices, which have led to inflated profit figures for 2024 [2][3]. Group 1: Regulatory Issues - On September 5, Tongda Co., Ltd. announced that it received an administrative regulatory decision from the Henan Securities Regulatory Bureau, highlighting several compliance failures [2]. - The identified issues include failure to follow proper procedures for fund allocation, lack of timely disclosure regarding accounting policy changes, and inaccurate accounting leading to inflated profit figures for 2024 [2][3]. - Key executives, including the chairman and general manager, have been held primarily responsible for these violations and have received warning letters from the regulatory authority [3]. Group 2: Financial Data - On September 24, the company reported a financing buy-in of 8.14 million yuan and a financing repayment of 6.71 million yuan, resulting in a net financing buy-in of 1.43 million yuan [2]. - As of May 27, the total approved guarantee amount for subsidiaries is 730 million yuan, with a current guarantee balance of 337 million yuan, representing 13.3% of the company's audited net assets for 2024 [5]. Group 3: Corporate Actions - The company has provided guarantees for its subsidiaries, including a maximum guarantee of 10 million yuan for financing activities with Industrial Bank [4][5]. - There are no overdue guarantees or litigation-related guarantees that could result in financial losses for the company [6]. Group 4: Business Operations - Tongda Co., Ltd. has participated in 3,250 bidding projects and holds 23 trademark registrations, indicating active engagement in its industry [7].

Group 1 - The lawsuit for compensation by investors of Xinhua Jin (600735) has been filed with the Qingdao Intermediate People's Court, and the court is awaiting the next hearing arrangements [1] - As of the disclosure date of the 2025 semi-annual report, Xinhua Jin Group and its affiliates had a non-operating fund occupation balance of 406 million yuan [1] - The actions of Xinhua Jin Group and its affiliates violated the regulatory requirements set forth in the "Guidelines for the Supervision of Listed Companies No. 8" [1] Group 2 - Investors who purchased Xinhua Jin stock between May 8, 2025, and August 27, 2025, and sold or continued to hold the stock after August 27, 2025, are eligible to initiate claims for compensation [2] - The law firm has a history of successfully representing investors in securities fraud cases, having won or mediated compensation for nearly 200 stocks over the years [2]

Core Viewpoint - The article discusses the legal developments regarding Century Huatong (002602) related to investor claims due to false statements, highlighting ongoing litigation and the company's violations as determined by regulatory authorities [1][2]. Group 1: Legal Developments - In September 2025, significant progress was made in investor claims against Century Huatong, with some investors already compensated and the case concluded [1]. - On September 21, 2025, additional claims were filed against Century Huatong in Shaoxing Intermediate People's Court, with the legal team continuing to accept claims from other investors [1]. Group 2: Regulatory Findings - On November 6, 2024, Century Huatong received an administrative penalty decision from the China Securities Regulatory Commission, confirming the following violations: - False records regarding goodwill in annual reports from 2018 to 2022 [1]. - Fabrication of software copyright transfer transactions and premature revenue recognition, leading to false records in annual reports for 2020 and 2021 [1]. - Specific instances include the fictitious software copyright transfer of "Millennium 3" in 2020, which inflated revenue, and premature recognition of revenue from "Rainbow Alliance" software copyright transfer, affecting both 2020 and 2021 financials [1].

Core Viewpoint - Two listed companies, *ST Suwu and *ST Zitian, are facing delisting procedures due to serious financial fraud, highlighting the increasing regulatory scrutiny in the capital market [1][2]. Group 1: Delisting Procedures - *ST Suwu's stock price closed at 0.95 yuan per share, below the 1 yuan face value, risking delisting due to price [1][2]. - *ST Zitian has entered a delisting preparation period, with its stock expected to be delisted by October 13, 2025 [2]. Group 2: Financial Fraud Details - *ST Suwu inflated its revenue by a total of 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion yuan from 2020 to 2023 [3]. - The company also had non-operational fund occupation by related parties totaling 47.56 billion yuan from the end of 2020 to the end of 2023 [3]. - *ST Zitian inflated its revenue by a total of 24.99 billion yuan over two years, with 7.78 billion yuan in 2022 alone, accounting for 44.59% of its revenue [4]. Group 3: Investor Compensation - Legal channels for investor compensation have opened, with specific periods defined for *ST Suwu and *ST Zitian for eligible claims [5]. - The increasing awareness of investor rights and the rising costs of violations for listed companies are evident in these cases [5]. - Audit firms involved in these companies may also face legal consequences for their roles in the financial fraud [5].