券商中国记者获悉，退市5年后，山东龙力生物科技股份有限公司(简称"龙力生物")证券虚假陈述责任纠纷一审判决结果出 炉。此前，法院启动普通代表人诉讼程序，共计1618名投资者加入诉讼成为原告。 根据山东省济南市中级人民法院(以下简称"济南中院")判决，1618名原告共计对龙力生物享有投资差额损失债权2.74亿元、 律师费债权80.9万元；五名原告代表人还对龙力生物享有通知费债权8.06万元。被告程少博对龙力生物上述债务承担连带清 偿责任，其余各被告在一定比例范围内承担连带清偿责任。 中介机构方面，国联民生（601456）证券承销保荐有限公司(简称"国联民生承销保荐")在原告各项损失5%的范围内承担连 带赔偿责任，立信会计师事务所(以下简称"立信所")在原告各项损失30%的范围内承担连带赔偿责任。8月26日晚间，国联 民生发布关于子公司重大诉讼的进展公告，公告了该事项。 1618名投资者获赔超2.7亿元 据悉，龙力生物于2011年7月28日在深交所中小板上市，股票代码为002604，隶属农林牧渔行业板块，乃是昔日"生物燃料 第一股"。 2018年1月19日，"龙力生物"被实施其他风险警示变更为"ST龙力"；202 ...

Core Viewpoint - The Shanghai Financial Court released a report on legal risk prevention related to securities false statements, highlighting the increase in related lawsuits and the need for improved governance and compliance among market participants [1][2][4]. Group 1: Case Statistics and Trends - From 2018 to 2024, the Shanghai Financial Court accepted 18,040 first-instance cases of securities false statement liability disputes, with a total amount in dispute of 7.646 billion yuan and 26,956 investors involved, of which institutional investors accounted for only 0.26% [1]. - The number of companies sued for false statements has risen, with a total of 77 companies involved, reflecting a broader range of capital market segments including the Shanghai and Shenzhen main boards, STAR Market, ChiNext, New Third Board, and interbank market [2]. - Financial fraud is a prominent issue, with over one-third of the false statements related to financial information, including revenue fraud, cost and expense fraud, cash flow fraud, and misuse of accounting estimates [2]. Group 2: Legal Framework and Recommendations - The report emphasizes the need for a balanced approach to protect investor rights while allowing for the development of listed companies, with a focus on holding primary offenders accountable and addressing complicity [2][3]. - Recommendations for market participants include improving corporate governance, enhancing financial regulations, and ensuring timely disclosure of significant events to mitigate risks associated with fraudulent activities [4][5]. - The report suggests that controlling shareholders and actual controllers should exercise their control rights responsibly, while directors and supervisors should fulfill their duties diligently and report issues promptly [5]. Group 3: Judicial and Regulatory Innovations - The report outlines the need for a comprehensive accountability system and improved collaboration in fact-finding among administrative, civil, and criminal proceedings related to securities false statements [3]. - The Shanghai Financial Court is innovating in creating a model for resolving collective disputes in the securities market and enhancing mechanisms for protecting the rights of small and medium investors [3]. - The release of ten selected cases aims to clarify common disputes and new legal issues in false statement cases, reinforcing market rules and expectations to purify the capital market ecosystem [5].

本报记者 吴晓璐 8月20日，在建院七周年之际，上海金融法院发布《证券虚假陈述责任纠纷法律风险防范报告》（以下简称《报告》）， 并联合上海证监局精选十大金融司法案例及行政执法案例，配套《报告》同步发布。 据上海金融法院副院长单素华介绍，2018年至2024年，上海金融法院共受理证券虚假陈述责任纠纷一审案件18040件，标 的总额为76.46亿元，投资者总数达26956名，其中机构投资者占比较低，仅为0.26%。 "追首恶""惩帮凶" 逐步落实 规范行使控制权 根据被诉侵权行为主体，即上市公司或其他发行主体、控股股东、实控人及董监高，以及各类中介机构、资产重组相对方 及帮助造假者等五类主体涉诉案件情况，《报告》系统梳理了各类被诉信披行为的法律风险、法律后果及司法认定原则，以期 为证券市场相关责任主体提供明确的信披行为法律规范指引。 基于上述纠纷类型和相应法律风险，《报告》分别对证券市场各参与主体提出建议。具体来看，建议证券发行人切实杜绝 欺诈发行，持续完善公司治理结构，强化财务规范、内控制度和关联交易管理及披露机制，规范并购重组信息披露，及时披露 重大事件，在虚假陈述发生后积极填补投资者实际损失。 虚假陈述类型 ...

Core Viewpoint - Guangxi Energy (600310.SH) inflated its revenue by a total of 6.8 billion yuan over two years, leading to administrative penalties and a lawsuit from 10 investors who sought compensation of 142,300 yuan but lost in the first instance [2][4][5]. Group 1: Financial Misconduct - Guangxi Energy inflated its revenue by 3.542 billion yuan in 2019 and 3.286 billion yuan in 2020, violating information disclosure regulations [2][5]. - The inflated figures represented 13.39% and 14.07% of the reported revenue and costs for 2019, respectively [5]. - The 2020 semi-annual report also showed significant overstatements, with 3.286 billion yuan in inflated revenue and costs, accounting for 28.95% and 30.16% of the reported figures [6]. Group 2: Legal Proceedings - The court dismissed the lawsuit from the 10 investors, stating that the alleged false statements did not significantly impact stock prices or trading volumes [8][9]. - The investors purchased shares between April 15, 2020, and January 5, 2022, and claimed losses after selling or holding the stock [7][8]. - Other individual investors also attempted to claim damages through civil lawsuits but faced similar outcomes, with courts ruling that the false statements did not have a substantial effect on market performance [8][9]. Group 3: Regulatory Actions - The Guangxi Securities Regulatory Bureau issued a warning and imposed fines totaling 1.2 million yuan on Guangxi Energy and its executives for the violations [6]. - Key executives, including the chairman and financial director, received individual fines ranging from 600,000 to 800,000 yuan for their roles in the misconduct [6]. Group 4: Investor Sentiment - Legal experts suggest that the severity of the violations may justify investor claims, and they recommend considering appeals against the first-instance rulings [3][10]. - The negative outcomes of these lawsuits could undermine investor confidence in Guangxi Energy and raise concerns about the risks associated with similar legal actions in the future [10].

Core Viewpoint - Guangxi Energy (600310.SH) inflated its revenue by a total of 6.8 billion yuan over two years, leading to administrative penalties and a lawsuit from 10 investors seeking compensation of 142,300 yuan, which was dismissed in the first instance [1][3][4]. Group 1: Financial Misconduct - Guangxi Energy reported inflated revenues of 3.542 billion yuan in 2019 and 3.286 billion yuan in 2020, violating information disclosure regulations [1][4]. - The company was penalized by the China Securities Regulatory Commission (CSRC) for these violations, receiving a warning and a fine of 1.2 million yuan [6]. - The inflated figures represented 13.39% and 14.07% of the reported revenue and costs for 2019, and 28.95% and 30.16% for the first half of 2020 [4][6]. Group 2: Legal Proceedings - The court dismissed the lawsuit from the 10 investors, stating that the inflated revenue did not significantly impact stock prices or trading volumes [1][8]. - The investors purchased shares between April 15, 2020, and January 5, 2022, and claimed losses after selling or holding the stock [5][6]. - Other individual investors also attempted to claim damages through civil lawsuits but faced similar outcomes, with courts ruling that the false statements did not lead to significant market changes [7][8]. Group 3: Investor Reactions and Future Actions - Legal experts suggest that the nature of the violations warrants investor claims, and they may consider appealing the court's decision [2][9]. - The first-instance ruling has raised concerns about investor confidence, as it may deter future claims against similar misconduct [9].

Core Viewpoint - Jiangsu Lanfeng Biological Chemical Co., Ltd. is currently involved in a legal dispute regarding securities false statements, with a total claim amount of RMB 19.18 million from 163 investors [2][3][4]. Group 1: Lawsuit Basic Information - The company has previously disclosed information regarding the investor lawsuit related to securities false statements [3]. - The final judgment and civil rulings from the Nanjing Intermediate People's Court have been received concerning the claims from 45 investors [3]. Group 2: Lawsuit Progress - The Nanjing Intermediate People's Court has issued an execution ruling to freeze RMB 19.18 million of the company's bank deposits due to non-compliance with a prior civil judgment [4]. - A total of 8 bank accounts of the company have been frozen, with only RMB 77,400 actually frozen [4]. - The company's overall business operations remain normal and unaffected by the bank account freeze [4]. Group 3: Company Response - The company plans to raise funds to comply with the court ruling and compensate the investors, aiming to lift the freezing measures promptly [5]. - The company will pursue accountability against its former directors and senior management as per the administrative penalty decision issued by the China Securities Regulatory Commission [5]. Group 4: Financial Impact - The total amount related to the investor lawsuit and associated costs is approximately RMB 19.18 million, which will be accounted for as liabilities and losses according to accounting standards [7]. - The company will continue to monitor the lawsuit's progress and fulfill its information disclosure obligations [7].

Core Viewpoint - The article discusses the ongoing legal issues faced by Nanjing Kanni Electromechanical Co., Ltd. related to securities false statement liability disputes, stemming from financial fraud by Guangdong Longxin Technology Co., Ltd. during the asset restructuring process [2][4]. Group 1: Background of the Case - In 2014, Guangdong Longxin Technology Co., Ltd. planned an IPO but terminated it by the end of 2015. In 2016, it engaged in asset restructuring discussions with Kanni Electromechanical [2]. - Kanni Electromechanical proposed to acquire 100% of Longxin Technology for 3.4 billion yuan, which constituted a significant asset restructuring [2]. - From 2015 to 2017, Longxin Technology was found to have inflated revenue and profits, leading to false records in Kanni Electromechanical's restructuring reports [2][4]. Group 2: Legal Proceedings - Kanni Electromechanical has faced lawsuits from 17 investors claiming damages due to the false statements, with a total claim amounting to approximately 382.63 million yuan [7]. - The Nanjing Intermediate People's Court issued a civil judgment requiring Kanni Electromechanical to pay a total of 33,093,050.08 yuan in damages and court fees for one of the cases [3][6]. - The court also assigned joint liability to other defendants, including Guotai Junan Securities and Suya Jincheng Accounting Firm, with varying percentages of responsibility [3][6]. Group 3: Financial Impact - Kanni Electromechanical has provisioned for investor compensation, totaling approximately 216.03 million yuan, to cover potential losses from ongoing and future lawsuits [8]. - The company has already compensated nine ordinary investors a total of 1,394,839.17 yuan and is in the process of appealing certain cases [7][8]. Group 4: Future Actions - The company plans to actively monitor the progress of the lawsuits and handle investor claims in accordance with legal regulations [9]. - Kanni Electromechanical will continue to fulfill its information disclosure obligations as required by law [9].

Core Viewpoint - Nanjing Kanni Electromechanical Co., Ltd. is currently facing multiple lawsuits from investors regarding securities false statement liability, stemming from a previous administrative penalty by the China Securities Regulatory Commission for financial misconduct by a related company [1][2]. Summary by Sections Basic Situation of the Lawsuit - The company received an administrative penalty from the China Securities Regulatory Commission on July 30, 2021, due to financial fraud by Guangdong Longxin Technology Co., Ltd. from 2015 to 2017, which led to false disclosures in the company's restructuring reports [1]. - A total of 17 investors have filed lawsuits against the company for securities false statement liability [1]. First Instance Civil Judgment Situation - The company has received first-instance civil judgments for 16 investor lawsuits, with the total compensation amounting to 50,053,463.01 yuan [3]. - Among these, one judgment also holds Guotai Junan Securities Co., Ltd. liable for 547,746.32 yuan in compensation, sharing 50% of the responsibility [3]. Compensation and Appeals - The company has completed compensation payments totaling 1,394,839.17 yuan to nine investors from the first-instance judgments [4]. - The company has appealed one judgment and is seeking to overturn it, requesting that the plaintiff bear all litigation costs [4]. - Another judgment is pending appeal, and the company plans to appeal it as well [5]. Impact on Financials - The company has provisioned for potential losses related to these lawsuits, totaling 216,031,343.66 yuan, which is expected not to significantly impact current or future profits [5][6]. - The company will continue to monitor the lawsuits and handle investor claims in accordance with legal requirements [6].

Group 1 - The core viewpoint of the article is that Fujian Yong'an Forestry (Group) Co., Ltd. has received a final judgment from the Fujian Provincial High Court regarding a securities false statement liability dispute, which the company has previously fully provisioned for in its financial statements [1][2]. Group 2 - The lawsuit involves 17 plaintiffs, including Zhang Qiang, against the company and several individuals, including Su Jiaxu and Chen Songbai [1]. - The Fujian Provincial High Court upheld the original judgment made by the Fuzhou Intermediate People's Court, confirming the facts and legal application were correct, and dismissed the company's appeal [1]. - The company will bear the costs of the second-instance case, while the first-instance case costs will be executed according to the original judgment [1]. Group 3 - As of the announcement date, the company has no other significant undisclosed litigation or arbitration matters apart from those already disclosed [1]. - The impact of this lawsuit on the company's current or future profits is uncertain, as the amount involved has already been fully provisioned in previous years, and the actual impact will depend on the execution of the judgment [1].

Core Viewpoint - The company, Yiwei Lithium Energy, has announced its plan for a secondary listing in Hong Kong, aiming to regain investor trust amid a backdrop of declining investor enthusiasm and ongoing legal challenges related to securities fraud [2][4][5]. Group 1: Company Performance and Legal Issues - Yiwei Lithium Energy's stock price has shown a lackluster response to the Hong Kong listing announcement, with a slight decline of 0.29% from 45.02 CNY on June 9 to 44.89 CNY on June 24, with 8 out of 12 trading days resulting in losses [2][4]. - The company is currently facing over a hundred investor lawsuits, primarily related to securities fraud, with 94 new civil lawsuits filed in a single day in April 2023 [5][7]. - Yiwei Lithium Energy has a history of legal disputes, with 128 cases related to securities fraud, and has received a warning from the Guangdong Securities Regulatory Commission for failing to disclose related party transactions amounting to 2.31 billion CNY in a timely manner [7][9]. Group 2: Financial Performance and Debt Levels - The company's revenue growth has slowed, with a slight decrease of 0.3% in revenue to 48.615 billion CNY in 2024, and a modest net profit increase of only 0.6% [13]. - As of the first quarter of 2025, the company's asset-liability ratio has risen to approximately 61.98%, significantly above the industry average, indicating increasing financial pressure [15][16]. - Yiwei Lithium Energy has a short-term debt obligation of nearly 12 billion CNY, while its accounts receivable reached 12.808 billion CNY, equivalent to 314% of its annual net profit, raising concerns about cash flow and repayment risks [16][18]. Group 3: Global Expansion and Capital Raising - The company is pursuing a global strategy, having established manufacturing facilities in Hungary, Malaysia, and the United States, with overseas revenue accounting for about 24% of total income by 2024 [19][20]. - The planned Hong Kong IPO aims to raise approximately 30 billion HKD (around 25 billion CNY), which will be used for overseas factory projects and operational funding, potentially alleviating current financial pressures [24]. - Successful fundraising through the Hong Kong listing could enhance the company's brand recognition and credibility in international markets, particularly with partnerships involving major clients like BMW and Daimler [22][24].