Core Viewpoint - The ongoing legal disputes between ST Lutong and its shareholder Wu Shichun are intensifying, focusing on issues of compliance regarding voting rights and information disclosure related to stock acquisitions [1][2]. Group 1: Legal Proceedings - On October 20, a court hearing was held regarding ST Lutong's claims against Wu Shichun and others for damages related to alleged illegal actions in the shareholder meeting and information disclosure [1]. - ST Lutong is seeking compensation of 2.5 million yuan for losses incurred due to Wu Shichun's actions, which include a 3.87% illegal share increase and a request to change the board of directors [2][3]. Group 2: Compliance Issues - ST Lutong argues that Wu Shichun's acquisition actions violate compliance regulations, as the partnership intended for the acquisition was not established, and the transaction price was allegedly predetermined [3]. - The focus of the dispute includes the legality of the information disclosure regarding the acquisition and the delegation of voting rights, which ST Lutong claims was not properly disclosed [3][4]. Group 3: Shareholding and Voting Rights - As of May 26, Wu Shichun reportedly holds at least 13.86% of ST Lutong's shares, including both disclosed and undisclosed voting rights [4]. - ST Lutong contends that the voting rights associated with the shares transferred to Wu Shichun must be publicly disclosed, as per regulations governing shareholder rights [4][5]. Group 4: Regulatory Actions - Following the court proceedings, ST Lutong received regulatory notices from the Shenzhen Stock Exchange and Jiangsu Securities Regulatory Bureau for failing to timely notify shareholders about the meeting, leading to administrative measures against the company and its chairman [6].

Core Viewpoint - The legal disputes between ST Lutong and Wu Shichun, founder of Meihua Venture Capital, are escalating, focusing on shareholder rights and compliance issues related to stock acquisitions and board elections [2][3]. Group 1: Legal Proceedings - The court hearings for two lawsuits involving ST Lutong and Wu Shichun commenced on October 20, addressing securities disputes and claims of damage to company interests [2]. - ST Lutong is seeking to restrict Wu Shichun and his affiliates from exercising voting rights on illegally acquired shares and is claiming damages of 2.5 million yuan for losses incurred due to improper board election proposals [3][4]. Group 2: Compliance Issues - ST Lutong alleges that Wu Shichun's acquisition actions violate compliance regulations, particularly regarding the establishment of the partnership "Meiling Partnership" and the premature locking of transfer prices [4]. - The company claims that Wu Shichun's failure to disclose relevant information regarding share acquisitions and voting rights undermines the rights of minority investors [4][5]. Group 3: Shareholding and Voting Rights - As of May 26, Wu Shichun reportedly holds at least 13.86% of ST Lutong's shares, including both disclosed and undisclosed voting rights [5]. - ST Lutong argues that the voting rights associated with the shares transferred to Wu Shichun must be publicly disclosed, as per regulations governing shareholder rights [5][6]. Group 4: Regulatory Actions - Following the court proceedings, ST Lutong received regulatory notices from the Shenzhen Stock Exchange and Jiangsu Securities Regulatory Bureau for failing to timely notify shareholders about meetings, leading to administrative corrective measures [6][7].

Core Viewpoint - The court hearing regarding the securities dispute between ST Lutong and Wu Shichun, founder of Meihua Venture Capital, has intensified the internal conflict within ST Lutong, focusing on issues of information disclosure and voting rights [1][2]. Group 1: Legal Proceedings - ST Lutong is seeking compensation of 2.5 million yuan for losses incurred due to Wu Shichun's alleged illegal proposal to convene a shareholders' meeting to reorganize the board of directors [3]. - The court session highlighted the compliance issues surrounding the disclosure of information related to the acquisition and voting rights delegation agreements [3][4]. Group 2: Compliance Issues - ST Lutong claims that Wu Shichun's acquisition actions may have violated compliance regulations, as the partnership intended for the acquisition was not yet established, and the transaction price terms appeared to be predetermined [4]. - The company argues that Wu Shichun did not wait for compliance disclosure before proposing to reorganize the board, potentially harming the rights of minority investors [4]. Group 3: Voting Rights Controversy - ST Lutong asserts that Wu Shichun has acquired at least 13.86% of the company's shares through disclosed and undisclosed voting rights delegation [5]. - The focus of the dispute is on the validity of the voting rights delegation agreement, which ST Lutong claims should have been publicly disclosed [7]. Group 4: Regulatory Actions - Following the court hearing, ST Lutong received a regulatory notice from the Shenzhen Stock Exchange for failing to timely notify shareholders about the meeting [9]. - The Jiangsu Securities Regulatory Bureau has also issued corrective measures against ST Lutong and a warning to its chairman, which will be recorded in the market integrity archives [10].

Core Viewpoint - The legal disputes between ST Lutong and Wu Shichun, the founding partner of Meihua Venture Capital, are intensifying, focusing on issues of shareholder rights and compliance with disclosure regulations [2][4]. Group 1: Legal Proceedings - On October 20, ST Lutong's lawsuits against Wu Shichun regarding securities disputes and damage to company interests were heard in court [2]. - ST Lutong is seeking compensation of 2.5 million yuan for losses incurred due to Wu Shichun's alleged illegal actions, including the improper proposal to reorganize the board of directors [4]. - The court proceedings have highlighted the ongoing internal conflicts within ST Lutong, particularly around information disclosure and voting rights [2][4]. Group 2: Compliance Issues - ST Lutong claims that Wu Shichun's acquisition actions may violate compliance regulations, as the partnership intended for the acquisition was not yet established [5]. - The company argues that the lack of proper disclosure regarding the acquisition and voting rights delegation could harm the rights of minority investors [6]. - The focus of the dispute includes the validity of the voting rights delegation agreement, which ST Lutong asserts was not disclosed in accordance with regulatory requirements [6][7]. Group 3: Regulatory Actions - Following the court hearings, ST Lutong received a regulatory notice from the Shenzhen Stock Exchange for failing to timely notify shareholders about the general meeting [10]. - The Jiangsu Securities Regulatory Bureau has also mandated corrective actions against ST Lutong and issued a warning to its chairman, which will be recorded in the market integrity archives [10].