stippoker| Two cases involving Tianji Shares and Xilong Science being claimed by shareholders are being heard by Shantou Intermediate People's Court

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The case of some shareholders claiming Tianji shares (safeguarding rights) and Xilong Science (safeguarding rights) represented by lawyer Li Hongjie is currently under trial by the Shantou Intermediate people's Court.

Tianji stock (stock code 002759) was issued on January 11, 2022StippokerThe company has received an announcement on the decision on administrative supervision measures. The Guangdong Regulatory Administration has identified the problems existing in the information disclosure of Skyline shares: inaccurate performance forecasts, untimely disclosure of changes in major investment projects, failure to perform review procedures and information disclosure obligations in related party transactions, and inaccurate disclosure of related party funds. There are some problems in financial accounting: inaccurate accounting for projects under construction, inaccurate recognition of accounts receivable, inaccurate confirmation of long-term equity investment, and inappropriate termination recognition of bills receivable. There are problems in insider information management. According to the relevant regulations, the Guangdong Regulatory Administration of the China Securities Regulatory Commission decided to take administrative regulatory measures to order the correction of Tianji shares. (entry for safeguarding the rights of Tianji shares)

Xilong Science (stock code 002584) announced on July 7, 2023 that it had received a written decision on administrative punishment issued by the Guangdong Regulatory Bureau of the China Securities Regulatory Commission. According to the Guangdong Regulatory Bureau of the CSRC, for the purpose of increasing the scale of trade to expand market influence and facilitate financing, Xilong Science falsely increased its income and profits through fictional trade businesses such as ethylene glycol and methanol. Among themStippokerThe inflated operating income totaled 597647922.97 yuan in 2020, 1457764040.40 yuan in 2021 and 785354194.46 yuan in the first half of 2022. There are false records in the 2020, 2021 and 2022 semi-annual reports of Xilong Science Bulletin. The Guangdong Securities Regulatory Bureau decided to give a warning to Xilong Science and impose a fine of 1.2 million yuan, and give a warning and fine to those responsible. (lawyer Li Hongjie column)

The investors who are currently eligible for claim for Skyline shares are those who bought from July 1, 2018 to January 10, 2022 and sold or held the stock on or after January 11, 2022 and suffered losses. The investors who are eligible for the Xilong Science stock claim are those who bought from April 29, 2021 to April 29, 2023, and sold or held the stock on or after April 29, 2023 and suffered losses. (the above is the lawyer's prediction, the court has not yet made a decision, and finally the effective judgment of the court shall prevail. ) (entrance to Xilong Science)

stippoker| Two cases involving Tianji Shares and Xilong Science being claimed by shareholders are being heard by Shantou Intermediate People's Court

(this article is contributed by Li Hongjie, a lawyer from Guangdong Julong Law firm, and does not represent the views of Sina Finance. Lawyer Li Hongjie has represented a dispute over the responsibility of investors claiming misrepresentation of listed companies: Guangdong Pearl (rights protection), Suoling shares (rights protection), Changyuan Group, Tongzhou Electronics, King Kong Glass, Beijing Culture (rights protection), Huayu Software (rights protection), Zhonggong Education (rights protection), Zhongtian Science and Technology (rights protection), Hi-Tech, Aurede, Xinjiang Haoyuan, Aerospace Communications, Tianrun entertainment, Tianma shares, Hermei Group. Bo Baolong, Huaxun Ark, Xilong Science, Hongxiang shares, Poly Union (rights protection), Shenzhen Datong and so on. )