Investors who suffered losses can register to pursue claims against the company through the Sina Investor Rights Protection Platform: http://wq.finance.sina.com.cn/. They can also find us by following @Sina Securities, following Sina Brokerage Fund on WeChat, searching Sina Investor Rights Protection on Baidu, or visiting the Sina Finance client and Sina Finance homepage.
Recently, the securities misrepresentation case involving Tianjin Zhuolang Information Technology Co., Ltd. (formerly known as Zhuolang Technology and Delisted Zhuolang, former stock code: 600225) has continued to advance. Lawyer Li Jian of Zhejiang Yufeng Law Firm, who has previously represented investors in winning cases against more than 150 listed companies and securing compensation, said that only five months remain in the Zhuolang delisting claim limitation period, and affected investors can still file lawsuits. (Lawyer Li Jian column)
Looking back at the case, on December 26, 2024, Zhuolang Technology issued an announcement regarding receipt of the Administrative Penalty Decision from the China Securities Regulatory Commission. The announcement showed that, upon investigation: First, Zhuolang Technology's periodic reports contained false records. From 2019 to 2023, its subsidiary Tianjin Zhuolang Technology Development Co., Ltd. fabricated sales of servers, software, and system integration services, inflating revenue and profit. Second, Zhuolang Technology failed to disclose external guarantees as required and did not disclose external guarantee information in its 2019 and 2020 annual reports, resulting in major omissions in those annual reports.
It is worth noting that on August 19, 2026, Zhuolang Technology issued an investor litigation announcement stating that, as of July 15, the company had completed compensation payments to 1,063 investors, with total compensation amounting to 144.1905 million yuan. Going forward, it will continue to advance work related to investor compensation.
According to the Supreme People's Court's judicial interpretation on misrepresentation, when listed companies and others cause losses to investors' rights and interests through securities misrepresentation, investors may file lawsuits in accordance with the law to seek compensation. The scope of compensation includes investment differential losses, commissions, and stamp tax losses.
"The delisting of a listed company does not affect investors' eligibility to seek compensation. We are representing investors in batches to file lawsuits," said Lawyer Li Jian. According to the judicial interpretation, the tentative criteria are: investors who purchased Zhuolang Technology shares between September 19, 2019 and March 14, 2024, and still held the shares at the close of trading on March 14, 2024, may file claims in accordance with the law. The claim conditions are subject to the court's determination. (Delisted Zhuolang rights protection entry)
To pursue compensation, investors need to provide securities account opening information inquiry forms, stock account statements (from September 1, 2019 to the end of December 2024), contact information, and other materials.
[This article is contributed by Lawyer Li Jian of Zhejiang Yufeng Law Firm and does not represent the position of Sina Finance. Lawyer Li Jian is a director of the Securities Law Research Association of the China Law Society and a securities dispute mediator for the Securities Association of China. In 2009, he was awarded the title of "Outstanding Young Lawyer of Zhejiang Province." From 2003 to the present, Lawyer Li Jian has represented investors in winning cases against more than 150 listed companies, including Wuliangye and Dazhihui, and obtained compensation, with notable results. Among them, the Xiangyuan Culture and Zhao Wei case was selected as one of the Top Ten Commercial Cases of the People's Courts in 2019, the Hangxiao Steel Structure case was selected as one of the "Top Ten National Court Mediation Cases" in 2012, the Huifeng shares case was Jiangsu Province's first ordinary representative securities dispute case, and the Dongfang Electronics case was China's first securities civil compensation case. Lawyer Li Jian has been interviewed more than 1,000 times by more than 100 news media outlets, including China Central Television, Xinhua News Agency, Securities Times, Securities Daily, China Securities Journal, People's Court Daily, and Yicai. Practice license number: 13301200210145176]
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