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May 18, 2024AbcjilicomZhejiang Furun Digital Technology Co., Ltd. (abbreviated as Zhejiang Furun and ST Furun, code: 600070) issued a notice on receipt of the decision on Administrative punishment from Zhejiang Regulatory Bureau of China Securities Regulatory Commission.
According to the Zhejiang Securities Regulatory Bureau of the China Securities Regulatory Commission, the facts of Zhejiang Furun's suspected violations of the law are as follows: the company falsely increased operating income and operating costs through fictional business, resulting in false records in the company's 2020 annual report, 2021 annual report and 2022 semi-annual report. From 2020 to the first half of 2022, the company inflated operating income by a total of 717225918.Abcjilicom.88 yuan, inflated operating costs totaling 715512264.14 yuan. Among them, the falsely increased operating income was 365766164.15 yuan and the operating cost was 364924901.98 yuan in 2020, accounting for 12.04% and 13.30% of the disclosed amount respectively, while in 2021, the falsely increased operating income was 142612952.84 yuan and the operating cost was 143233987.18 yuan, accounting for 10.87% and 11.11% of the disclosed amount in the current period, respectively. In the first half of 2022, there was a false increase of 208846801.89 yuan in operating income and 207353374.98 yuan in operating cost, accounting for 69.05% and 69.79% of the disclosed amount respectively. Therefore, the Zhejiang Securities Regulatory Bureau of the China Securities Regulatory Commission intends to decide to order corrections, give warnings and impose fines on Zhejiang Furun and related responsible personnel.
Prior to this, on April 28, 2023, Zhejiang Furun issued a notice on the correction and retroactive adjustment of previous accounting errors. On October 28, 2023, Zhejiang Furun issued the announcement on receipt of the notice of filing a case by the China Securities Regulatory Commission. On April 25, 2024, Zhejiang Furun issued a notice on receiving the advance notice of Administrative punishment from the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission.
According to the provisions of the Civil Code, the Securities Law and the judicial interpretation of civil compensation for misrepresentation issued by the Supreme people's Court, listed companies, controlling shareholders, actual controllers, board supervisors and their intermediaries who cause damage to the rights and interests of securities investors due to securities fraud such as misrepresentation shall bear civil liability for compensation, including the loss of investment difference, commission, stamp duty and interest. A securities investor whose rights and interests are impaired may file a civil compensation action in a court with jurisdiction.
As Zhejiang Furun was suspected of violating the laws and regulations in information disclosure and was punished by the China Securities Regulatory Commission, in order to safeguard the legitimate rights and interests of securities investors, Song Yixin, a lawyer from Shanghai Hanlian Law firm, launched a litigation agent to solicit claims from securities investors who had bought Zhejiang Furun, and securities investors whose rights and interests were damaged may register their claims with the above-mentioned lawyers. (song Yixin lawyer column)
Song Yixin, a lawyer, believes that the claim conditions of the Zhejiang Furun case are as follows: from August 27, 2022 to April 26, 2023, the damaged investors who bought the securities market such as Zhejiang Furun stocks or bonds and sold or continued to hold them on and after April 27, 2023 can register their claims. (ST Fourun rights protection entrance)
★ (lawyer's hint and explanation of the case)
1. The claim conditions mentioned above are for reference only and do not involve any securities investment decisions and securities trading suggestions of investors. The final conditions of the claim will be further adjusted according to the conclusion of the administrative penalty of the China Securities Regulatory Commission, and shall be subject to the legal time, the object of compensation, the scope of compensation, the standard of compensation and the method of accounting calculation determined by the judgment of the relevant court.
two。 After the cancellation of the precondition characterized by the decision of administrative penalty, although investors can sue directly, due to the limited means of investigation, there is a risk of losing the lawsuit based on the notice of filing an investigation or the decision of administrative supervision measures. Therefore, as a professional lawyer, I remind investors that the decision on administrative penalty should still be one of the necessary prerequisites for filing a lawsuit.
3. In the proposed civil tort litigation, whether the listed company is delisted or not does not affect the process of civil claim tort litigation, but may affect the progress of litigation. Entering the bankruptcy proceedings (including reorganization, pre-reorganization or liquidation) may affect the progress of the proceedings. In the event of a representative action, you may choose to participate or not to participate, join or withdraw.
4. Investor claim registration or pre-registration shall provide the following materials: (1) A copy of the "ID card". (2) the original confirmation form of account opening Information of Securities account (affixed with the seal of the business department of the securities company). (3) the original "Securities Trading record" from the first purchase of the stock / bond / warrant, etc. (affixed with the seal of the business department of the securities company).
(this article is contributed by Song Yixin, a lawyer from Shanghai Hanlian Law firm, and does not represent the views of Sina Finance. Song Yixin, a lawyer, has been practicing as a lawyer since 1992 and is now a partner of Shanghai Hanlian Law firm. The service areas mainly include legal services in capital market, securities market, financial market and the protection of the rights and interests of investors / financial consumers. Up to now, he has provided legal services for more than 10000 securities litigation or shareholder disputes. He has edited books such as the principle and practice of Securities Law, the practical Handbook of Securities Civil compensation, the Protection of Stock Market Rights, the Compendium of Judicial documents on China's Securities Civil compensation cases, Directors' liability Insurance and the Protection of investors' Rights and interests. License No.: 13101199210628065)