Investors who suffered losses can register their claims on the Sina Investor Rights Protection platform. On January 19, 2026, the investor compensation case against Shenzhen Deren Electronic Co.,Ltd. (002055), represented by attorney Xu Feng from Shanghai Jiucheng Law Firm, was formally accepted by the court. The process of filing subsequent cases is ongoing, and the firm continues to accept mandates from other affected investors. On December 31, 2025, Deren Electronics announced it had received a "Prior Notice of Administrative Penalty" from the Shenzhen Regulatory Bureau. The investigation found the company涉嫌 the following violations: From 2020 to 2021, due to operational difficulties faced by Deren's major clients who were unable to repay debts, the company experienced a cash flow crunch. Qiu Jianmin, the actual controller and then Chairman and President of Deren, used personal funds and external loans to provide financial support to Deren's clients, former subsidiaries, and equipment suppliers, specifically for repaying their historical debts to Deren. Qiu Jianmin failed to disclose the true source of these funds to Deren, leading the company to falsely report repayments of 394,584,426.91 yuan in 2020 and 112,960,100 yuan in 2021. This resulted in an understatement of credit impairment losses by 371,151,433.40 yuan and 66,393,093.51 yuan, respectively, and an understatement of capital reserve by 321,316,487.76 yuan and 434,276,587.76 yuan, respectively. In June 2022, Qiu Jianmin directed a Deren subsidiary to indirectly provide funds to an associate company of Deren under the guise of prepaying for goods. These funds were used to repay matured financial assistance loans from Deren, leading to a falsely reported repayment of 26,836,923.99 yuan and an understated credit impairment loss of 5,060,996.46 yuan for the first half of 2022. These actions caused false records in Deren's 2020 Annual Report, 2021 Annual Report, and 2022 Semi-Annual Report. Attorney Xu Feng believes that based on these violations and relevant securities laws, investors who purchased Deren Electronics shares between August 27, 2020, and December 30, 2023, and sold or continued to hold them after December 30, 2023, are still eligible to file claims. In addition to the Deren Electronics case, Attorney Xu Feng highlighted progress in the securities misrepresentation lawsuit against Wenyi Technology (600520, now简称 Sanjia Technology). Some investors have already won their cases at the first instance. The claim period is still within the statute of limitations, and eligible investors can still pursue compensation. The change in the company's stock abbreviation and name does not affect investors' right to claim. On December 27, 2023, Wenyi Technology announced receiving the "Administrative Penalty Decision" from the CSRC. The investigation found the following violation: On July 28, 2023, an appraisal firm hired by Wenyi Technology sent an appraisal report for Zhongfa Tongling to the company's financial staff, indicating an impairment of 105,494,915.06 yuan. On October 23, 2023, Wenyi Technology issued a correction announcement, recognizing total asset impairment provisions of 106,324,838.74 yuan and correcting related data in its 2023 semi-annual reports for the income statement, balance sheet, and statement of changes in equity. According to regulations, the company should have recognized corresponding impairment losses upon learning the appraisal results. However, Wenyi Technology failed to provision for asset impairment of 106,324,838.74 yuan, leading to an overstatement of assets and profits by the same amount and resulting in false records in its 2023 semi-annual report. Attorney Xu Feng, Director of Shanghai Jiucheng Law Firm, which specializes in stock compensation litigation, believes that investors who purchased Wenyi Technology shares between August 7, 2023, and October 24, 2023, and sold or continued to hold them after October 24, 2023, are still eligible to file claims. (This article is contributed by Attorney Xu Feng, Director of Shanghai Jiucheng Law Firm. Xu Feng has been practicing law since 2008, specializing in representing clients in securities fraud claims involving misrepresentation, insider trading, and market manipulation. Over the past decade, he has successfully represented investors in nearly 200 stock cases, achieving compensation through verdicts or settlements, and is currently handling nearly 300 active cases within the limitation period, some of which already have favorable precedents. No fees are charged if the investor does not receive compensation. Practicing Certificate Number: 13101200810965495)
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