Core Viewpoint - The financial fraud case involving Zeda Yisheng continues to have repercussions, leading to a series of compensation lawsuits against Geer Software and other involved parties [2][3]. Group 1: Legal Proceedings - Geer Software has received notifications from the Shanghai Financial Court regarding lawsuits filed by Tianjian Accounting, Dongxing Securities, and Kangda Law Firm, seeking compensation for losses [3]. - The three intermediary institutions are pursuing claims against 37 companies and 2 individuals, requesting a total of approximately 1.23 billion yuan, 2.15 billion yuan, and 0.33 billion yuan in principal and interest [3]. - Zeda Yisheng was previously penalized by the China Securities Regulatory Commission for fraudulent issuance and information disclosure violations, leading to a total compensation payout of about 493 million yuan to investors [2][3]. Group 2: Financial Impact - Geer Software stated that the ongoing lawsuits have not yet gone to trial, making it difficult to assess their impact on the company's current or future profits [4]. - The transactions involved in the lawsuits were determined to have a minor effect on the accuracy of Geer Software's financial statements from 2018 to 2021, thus no retrospective adjustments are necessary [4]. Group 3: Historical Context - Geer Software's historical announcements reveal that the company inflated its net profit by 2.75 million yuan, 2.51 million yuan, and 773,800 yuan from 2018 to 2020, while reducing its net profit by 1.90 million yuan in 2021 [5]. - The Shanghai Securities Regulatory Bureau issued a warning letter to Geer Software and related personnel in 2023 regarding these financial discrepancies [5]. Group 4: Legal Framework and Defense - Legal experts indicate that for the intermediary institutions to exercise their right of recourse, they must prove that the parties being pursued had faults and that there is a direct causal relationship between their actions and the damages incurred [6]. - The concept of "no commercial substance" in transactions may not be sufficient for a successful claim unless it can be shown that the involved parties knowingly participated in fraudulent activities [7]. Group 5: Risk Mitigation Strategies - Geer Software is taking proactive measures to strengthen the understanding of relevant laws and regulations among its directors, supervisors, and senior management [8]. - The company is also enhancing its internal control systems to improve operational compliance and risk identification capabilities [8].

企业上市（IPO）是一个复杂且监管严格的过程，其中税务方面是监管机构审核的重中之重，也是决定 企业能否成功登陆资本市场的关键因素之一。6月19日至20日，中汇"聚生态之力、赋资本新程"IPO高端 论坛在浙江杭州举行。 活动现场，众多企业提出了关于IPO过程中税务合规的关切。针对这些热点问题，中汇相关专家强调了 几个关键点，以帮助企业更好地理解和应对IPO阶段可能遇到的税务挑战。 IPO税务是一项贯穿上市全程的系统性工程，涉及企业历史、现在与未来的方方面面。中汇相关专家表 示，企业应尽早（甚至在启动上市前1-2年）引入经验丰富的专业税务顾问团队，进行全面的税务尽职 调查、风险评估和健康检查，针对识别出的问题制定周密的整改方案和风险应对策略。在架构重组、股 权激励设计、引入战投等关键环节，必须进行深入的税务影响分析和合规性评估，确保每一步操作都经 得起监管机构和税务机关的检验。唯有做到税务规范透明、风险可控、处理得当，才能为企业的成功上 市保驾护航，并为上市后的持续健康发展奠定坚实的税务基础。 中汇相关专家表示，企业在IPO进程中，享受税收优惠政策是一个关键但复杂的领域。高新技术企业、 软件企业以及研发费用加计扣 ...

Core Viewpoint - The article discusses the legal actions taken by Tianjian Accounting Firm, Dongxing Securities, and Kangda Law Firm against 39 defendants, including Geer Software, for a total claim amount of approximately 372 million yuan, stemming from the fraudulent issuance case of Zeda Yisheng [2][4]. Group 1: Legal Actions and Claims - Geer Software is one of the defendants in three lawsuits filed by the aforementioned firms, which are seeking to recover losses after compensating investors a total of 493 million yuan [2][4]. - The lawsuits involve three separate cases with claimed amounts of 1,234.55 million yuan (principal 1,175.576 million yuan, interest 58.974 million yuan), 2,153.32 million yuan, and 334.855 million yuan respectively [4]. - The lawsuits are a continuation of the Zeda Yisheng fraudulent issuance case, where the three firms acted as intermediaries during Zeda Yisheng's IPO [4][5]. Group 2: Background of Zeda Yisheng Case - Zeda Yisheng was listed on the Sci-Tech Innovation Board on June 23, 2020, and was found to have committed financial fraud both before and after its listing [5]. - The company inflated its operating income by 342 million yuan and profits by 187 million yuan from 2016 to 2019, and continued to falsify financial statements in its 2020 and 2021 annual reports [5][7]. - In April 2023, Zeda Yisheng faced administrative penalties from the China Securities Regulatory Commission, leading to investor lawsuits against the company and its intermediaries [7]. Group 3: Implications of the Legal Actions - The lawsuits represent a significant development in the accountability mechanisms within the capital market, as intermediaries shift from passive compensation to actively pursuing those responsible for the fraud [7]. - The case is seen as a breakthrough in establishing a "responsibility closed loop," where all parties involved in the fraudulent activities may face legal consequences [7]. - The actions signal a dynamic balance in the responsibilities of intermediaries, where diligent parties can mitigate losses through recovery efforts, while negligent parties expose their risk management failures [7].

Core Viewpoint - The registration system reform in China's capital market is progressing towards a comprehensive implementation, enhancing the efficiency of IPO processes and supporting the development of technology-driven enterprises [1][2][3]. Group 1: Registration System Reform - The registration system has transitioned from an approval system to a more market-oriented approach, significantly improving the efficiency of IPOs and allowing for a more diverse range of companies to access the capital market [2][3]. - As of early 2023, under the registration system, there are 31 unprofitable companies, 4 with special equity structures, and 5 red-chip companies listed, indicating a broader acceptance of various business models [3]. - The government has emphasized the need for a comprehensive registration system to promote stable and healthy development in the capital market, with a focus on enhancing information disclosure and regulatory transformation [3]. Group 2: Market Structure and Dynamics - The registration system reform is reshaping the capital market ecosystem, leading to a more market-driven approach where regulatory focus shifts towards ensuring compliance and enhancing market integrity [5][6]. - The proportion of individual investors is gradually decreasing, while institutional ownership is on the rise, indicating a shift towards a more mature value investment market [6]. - The market is experiencing a "Matthew effect," where high-quality stocks attract more capital, leading to a decline in the value of shell companies [5][6]. Group 3: Challenges and Responsibilities - The registration system poses challenges for accounting firms, requiring them to ensure diligent financial disclosures and adapt to a comprehensive regulatory framework [7][8]. - Accountants are seen as gatekeepers of financial information, needing to maintain a zero-tolerance policy towards fraud while balancing penalties and development [8]. - There is a call for accounting firms to innovate their audit practices, incorporating technology and data analysis to enhance their service quality and risk management capabilities [8].

Core Viewpoint - The article discusses the legal actions taken against Gel Software and other parties involved in the fraudulent issuance and information disclosure violations related to Zeda Yisheng Technology Co., Ltd, highlighting the financial implications and the ongoing litigation process [2][4]. Group 1: Legal Proceedings - On August 12, Gel Software announced that it, along with 38 other defendants, is being sued for a total of approximately 37,227.26 million yuan across three cases related to fraudulent issuance and information disclosure violations [2]. - The three cases involve claims of 12,345.51 million yuan, 21,533.20 million yuan, and 3,348.55 million yuan respectively, with the total amount claimed being 37,227.26 million yuan [2]. - The plaintiffs include Dongxing Securities, Tianjian Accounting Firm, and Beijing Kangda Law Firm, all of which were intermediaries in Zeda Yisheng's initial public offering [4]. Group 2: Background and Financial Impact - In April 2023, Zeda Yisheng was penalized by the China Securities Regulatory Commission for fraudulent issuance and information disclosure violations, leading to investor lawsuits against Zeda Yisheng and its intermediaries [4]. - Following the penalties, Dongxing Securities, Tianjian Accounting, and Kangda Law Firm collectively paid approximately 493 million yuan to investors and the regulatory authority, prompting them to seek recovery of these costs through litigation against other involved parties [4]. - Gel Software's involvement stems from business transactions with Zeda Yisheng in 2018 and 2020, which were later found to lack commercial substance during a self-examination process [4].

Group 1 - The company announced the appointment of Shinewing (HK) CPA Limited as its auditor effective from August 5, 2025, to fill the temporary vacancy left by the resignation of KPMG [1] - The appointment will last until the conclusion of the next annual general meeting of the company [1]

Core Viewpoint - The article discusses the upcoming legal disputes involving Tianjian Accounting Firm, specifically two lawsuits initiated by former chief partner Wang Guohai, focusing on partnership disputes and withdrawal issues [2][3]. Group 1: Legal Proceedings - On August 8, 2025, the Hangzhou West Lake District People's Court will hear two lawsuits against Tianjian Accounting Firm, both filed by Wang Guohai [2]. - The lawsuits are categorized as a withdrawal dispute and a partnership dispute [2][3]. - The court sessions are scheduled for 9:30 AM and 4:30 PM on the same day, with specific case numbers assigned [3]. Group 2: Leadership Changes - Tianjian Accounting Firm held its 2024 partner conference on January 8-9, 2024, where Wang Guohai was elected as the executive partner (chief partner) [3]. - The conference also resulted in the election of 13 members to the fifth partner management committee and five members to the supervisory committee [3]. - On December 19, 2024, it was announced that Wang Guohai would no longer serve as chief partner, with Zhong Jianguo appointed as the new chief partner [4].

Group 1 - The meeting between the People's Bank of China (PBOC) and the US-China Business Council focused on US-China economic relations, macroeconomic policies, and financial market openness [1] - The PBOC emphasized the importance of mutual respect, peaceful coexistence, and win-win cooperation between China and the US, as highlighted by President Xi Jinping [1] - The PBOC is committed to high-level financial openness and continuously optimizing the investment environment for foreign enterprises [1] Group 2 - The US-China Business Council expressed strong confidence in China's reform and opening-up measures and is dedicated to long-term investment in China [1] - The council aims to play a positive role in promoting win-win economic cooperation between China and the US [1] - Representatives from major firms like Goldman Sachs and PwC participated in the discussions, indicating strong interest from foreign companies in the Chinese market [1]

Core Viewpoint - 彭顺国际 announced the resignation of its auditor, 国富浩华, due to a failure to reach an agreement on the audit fees for the fiscal year ending October 31, 2025 [1] Group 1 - The resignation of 国富浩华 as the auditor is effective from July 31, 2025 [1] - The decision was made after careful consideration and discussion between 彭顺国际 and 国富浩华 [1]

Group 1 - The company announced the resignation of its auditor, Guo Fu Hao Hua (Hong Kong) CPA Limited, effective from July 31, 2025, due to a failure to reach an agreement on the audit fees for the fiscal year ending October 31, 2025 [1]