Group 1: Nanjing Panda Case - Nanjing Panda has been involved in a false statement case leading to investor claims, with ongoing developments [1] - The company announced an expected net profit for 2023 between 16.19 million and 24.29 million CNY, but the actual reported net profit was a loss of 237.86 million CNY [1] - The discrepancy between the profit forecast and actual results has raised concerns about the accuracy of information disclosure [1] Group 2: Hengrun Shares Case - Hengrun Shares is facing a civil claim for market manipulation, with a case filed in Nanjing Intermediate People's Court [2] - The company’s stock price increased by 96.65% from July 29 to November 8, 2023, while the Shanghai Composite Index fell by 6.86% during the same period, indicating significant price manipulation [3] - Investors who traded Hengrun Shares between July 10 and December 27, 2023, may initiate claims for damages [4]

Core Viewpoint - The article discusses the ongoing legal actions and potential compensation claims for investors of Huichen Co., Ltd. (慧辰股份) and Huilun Crystal (惠伦晶体) due to violations of securities laws and false disclosures [1][2][3] Group 1: Huichen Co., Ltd. (慧辰股份) - Huichen Co., Ltd. received an administrative penalty from the Beijing Regulatory Bureau of the CSRC for false disclosures related to its acquisition of Xintang Puhua [1] - The company was found to have inflated revenue and profits through fictitious business transactions and premature revenue recognition, affecting its IPO and subsequent financial reports from 2020 to 2022 [1] - Investors who purchased Huichen shares before February 10, 2023, and sold or held them afterward are eligible to file compensation claims, with a deadline approaching in three months [2] Group 2: Huilun Crystal (惠伦晶体) - Huilun Crystal has also faced legal scrutiny, with the CSRC issuing a notice of investigation for suspected information disclosure violations [2] - Investors who bought Huilun Crystal shares before April 25, 2025, and sold or held them afterward can initiate compensation claims [3] - The law firm representing these investors has a history of successful claims and is actively accepting new cases related to Huilun Crystal [3]

Group 1 - Hongbo Co., Ltd. (002229) is currently facing investor compensation lawsuits due to false statements, with some investors already winning judgments [1] - The company announced a significant revision of its 2023 profit forecast, changing from an expected profit of 37.4 million to 56.1 million yuan to a projected loss of 50 million to 58 million yuan [1] - The China Securities Regulatory Commission (CSRC) issued a warning letter to Hongbo Co., Ltd. for violating the Information Disclosure Management Measures for Listed Companies [1] Group 2 - Attorney Xu Feng is representing investors in the Jiangsu Wuzhong (600200) compensation case, which has also been submitted to the Suzhou Intermediate People's Court [2] - Jiangsu Wuzhong is accused of failing to disclose the actual controller and inflating revenue, costs, and profits in its annual reports from 2020 to 2023 [3][4] - Investors who purchased Jiangsu Wuzhong shares between April 20, 2019, and February 27, 2025, may also initiate compensation claims [4]

Core Points - The law firm Shanghai Jiucheng has filed a lawsuit for investor compensation against Jihua Group (601718) due to alleged violations of information disclosure laws by the company [1] - The law firm is also pursuing compensation claims for investors of Dongfang Tong (300379), which has been implicated in similar violations [1][4] - Dongfang Tong has been found to have inflated revenues and profits from 2019 to 2022 through fictitious business activities, leading to significant discrepancies in its annual reports [2][3] Summary by Category Jihua Group (601718) - On August 8, 2025, Jihua Group received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into information disclosure violations [1] - Investors who purchased Jihua Group shares before August 9, 2025, may still initiate compensation claims [1] Dongfang Tong (300379) - Dongfang Tong received an administrative penalty notice from the CSRC on September 12, 2025, for false disclosures in its annual reports from 2019 to 2022 [2] - The company inflated its revenues by 61.45 million, 84.85 million, 125.51 million, and 160.53 million yuan for the years 2019 to 2022, respectively, which accounted for 12.29%, 13.25%, 14.54%, and 17.68% of reported revenues [2] - Profits were also inflated by 52.23 million, 58.77 million, 79.48 million, and 123.69 million yuan for the same years, representing 34.11%, 22.72%, 30.35%, and 219.43% of reported profits [2] - Investors who bought Dongfang Tong shares between April 29, 2020, and April 15, 2025, may also pursue compensation claims [4]

Group 1 - The Southern Precision (002553) investor compensation case has progressed, with the lawyer receiving a court report and moving to the mediation stage [1] - Southern Precision has faced administrative measures from the Jiangsu Securities Regulatory Bureau due to inaccurate information regarding humanoid robots, leading to stock price fluctuations [1] - Investors who purchased Southern Precision stock between June 20, 2023, and July 5, 2023, may still initiate claims [2] Group 2 - The Oriental Garden (002310) investor compensation case has also been submitted to the court, with ongoing acceptance of claims from other investors [2] - The Oriental Garden faced administrative penalties from the Beijing Regulatory Bureau for violations related to a PPP project in Guangxi [2] - The company inflated revenue and profits by 35.4184 million yuan in 2019, with adjustments not made until 2022, affecting financial statements for multiple years [3] - Investors who bought Oriental Garden stock between April 30, 2020, and July 13, 2023, may still initiate claims [3]

Group 1 - The core issue involves the stock manipulation lawsuit against Tengmao Technology (873789), with ongoing efforts to file claims for investors affected between June 19, 2023, and September 28, 2023 [1] - The China Securities Regulatory Commission (CSRC) imposed administrative penalties on Liu Hongtao and Lou Ge, who collaborated to manipulate Tengmao Technology's stock price by artificially inflating it before selling [1] - The law firm is actively accepting claims from other investors who traded Tengmao Technology shares during the specified period [1] Group 2 - The recent announcement regarding the lawsuit against Dingxin Communications (603421) indicates that investors have won a final judgment in a false statement claim, with the Shandong High Court upholding the original ruling for compensation [2] - Dingxin Communications was found to have failed to disclose significant changes in external operating conditions and the disposal of shares by its controlling shareholder [2] - Investors who purchased Dingxin Communications stock between March 1, 2024, and March 30, 2024, and sold or held the stock afterward are eligible to file claims [2]

Core Viewpoint - The recent developments in the investor compensation case against Zhiyun Co., Ltd. (智云股份) indicate that investors have begun to win lawsuits due to false statements made by the company, with a court ruling requiring Zhiyun to compensate investors a certain percentage of their losses following the judgment [1] Group 1: Legal Proceedings - The investor compensation case against Zhiyun Co., Ltd. has been initiated in Dalian Intermediate Court, with the legal team continuing to accept claims from other investors [1] - A precedent has been set with investors winning in the first instance, leading to potential further claims [1] Group 2: Regulatory Findings - The China Securities Regulatory Commission (CSRC) issued an administrative penalty decision on March 17, 2025, confirming that Zhiyun Co. engaged in illegal activities [1] - In 2020, Zhiyun acquired an 81.3181% stake in Shenzhen Jiutian Zhongchuang Automation Equipment Co., which became a subsidiary included in Zhiyun's consolidated financial statements [1] - In 2022, Jiutian Zhongchuang falsely recognized sales revenue of 59.7345 million yuan and profit of 24.1123 million yuan from Jiangxi Mizhan Technology Co., accounting for 13.27% and 7.09% of Zhiyun's reported revenue and profit, respectively [1] Group 3: Financial Manipulation - Between April and October 2022, Jiutian Zhongchuang transferred a total of 68.2 million yuan to three suppliers, who then transferred 67.7 million yuan back to Jiutian Zhongchuang, creating a circular flow of funds without any real sales transactions [1] - This manipulation resulted in false sales revenue being reported in Zhiyun's 2022 annual report [1]

Core Viewpoint - The article discusses the upcoming court hearing for Zhongqingbao (300052) regarding investor claims due to false statements made in financial reports from 2019 to 2021, which resulted in inflated revenue and profits [1][2]. Summary by Sections Legal Proceedings - Zhongqingbao has received a subpoena, and the investor compensation case will be heard in Shenzhen Intermediate People's Court on October 28, 2025 [1]. - The law firm, led by attorney Xu Feng, is continuing to accept claims from other investors and has already filed several cases [1]. Financial Misconduct - From 2019 to 2021, Zhongqingbao's subsidiary, Shenzhen Baoteng Internet Technology Co., Ltd., engaged in fictitious business activities that inflated revenue and costs [1]. - Specific financial discrepancies include: - 2019: Revenue inflated by 33.61 million yuan (7.17% of reported revenue), costs inflated by 25.28 million yuan, and profit inflated by 8.33 million yuan (14.96% of reported profit) [2]. - 2020: Revenue inflated by 28.09 million yuan (9.56%), costs inflated by 21.11 million yuan, and profit inflated by 6.98 million yuan (5.45%) [2]. - 2021: Revenue inflated by 17.88 million yuan (5.03%), costs inflated by 25.09 million yuan, and profit reduced by 7.21 million yuan (13.17%) [2]. Investor Claims - Investors who purchased Zhongqingbao shares between January 4, 2024, and July 27, 2024, and sold or held them after July 27, 2024, are eligible to file claims [3]. - Additionally, investors who bought shares between March 27, 2020, and April 29, 2023, and sold or held them after April 29, 2023, can also initiate claims [3]. Related Cases - The article also mentions a similar case involving Huichen Co. (688500), where investors have already seen successful outcomes [3]. - Huichen Co. was found to have inflated revenue and profits through fictitious business dealings and improper revenue recognition, leading to false disclosures in their financial reports [4].

Group 1 - Shanghai Yilian (600836) has been involved in a false statement investor compensation case, which has been accepted by the Shanghai Financial Court [1] - The company was found to have made false disclosures in its 2020 and 2021 annual reports, including failing to disclose the actual controller and significant related party transactions [1] - The false trade practices inflated the reported operating income and total profit, with the following discrepancies: - 2021: inflated by 150.26 million yuan, accounting for 18.04% of reported income and 62.15% of total profit - 2022: inflated by 95.09 million yuan, accounting for 18.49% of reported income and 152.23% of total profit - 2023: inflated by 23.33 million yuan, accounting for 4.52% of reported income and 118.15% of total profit [1] Group 2 - Attorney Xu Feng indicates that investors who purchased Shanghai Yilian stock between April 29, 2021, and February 28, 2024, may initiate claims [2] - The attorney's firm is also handling a compensation case for Fangzheng Electric (002196), which has been submitted to the Wenzhou Intermediate People's Court [2] - Fangzheng Electric was found to have unreasonable accounting estimates for "three-package fees" and improperly expanded goodwill-related asset groups, leading to inflated profits in the following years: - 2018: inflated by 7.84 million yuan - 2019: inflated by 596.45 thousand yuan - 2020: inflated by 1.79 million yuan - 2021: inflated by 231.37 thousand yuan - 2022: reduced by 8.70 million yuan [2] Group 3 - Attorney Xu Feng states that investors who bought Fangzheng Electric stock between April 29, 2019, and June 27, 2023, can also initiate claims [3] - The attorney has extensive experience in securities fraud cases, having represented nearly 200 stocks with successful outcomes and currently handling claims for around 300 stocks [3]

Group 1 - The core issue involves investor claims against Huawen Group (000793) due to false statements leading to legal actions filed in Haikou Intermediate People's Court [1] - Huawen Group was found to have inflated revenue and costs by improperly recognizing income from subsidiaries, violating accounting standards [1] - Investors who purchased Huawen Group stock between April 27, 2022, and April 20, 2024, may still initiate claims [1] Group 2 - Yaowang Technology (002291) received a warning from Guangdong Securities Regulatory Commission for discrepancies in inventory values and improper revenue recognition from 2021 to 2022 [2][3] - The company was also cited for failing to disclose financial assistance, guarantees, and joint investments with professional institutions in a timely manner [4][5] - Investors who bought Yaowang Technology stock between April 23, 2020, and December 12, 2023, can still file claims [5]