On August 18, 2025, lawyer Xu Feng from Shanghai Jiucheng Law Firm began submitting the filing for the Cubic Digital Technology Co., Ltd. (300344) investor compensation case to the Hefei Intermediate People's Court. The case is currently awaiting the court's next arrangements, while work continues on filing subsequent cases and accepting compensation mandates from other investors.
On April 29, 2025, Cubic Digital Technology announced it received a "Case Filing Notice" from the China Securities Regulatory Commission (CSRC). Due to suspected illegal disclosure of information in periodic reports, and in accordance with the Securities Law, Administrative Penalty Law and other legal regulations, the CSRC decided to open a case against the company.
Lawyer Xu Feng believes that investors who purchased Cubic Digital Technology shares before April 29, 2025, and sold or continued holding the shares after April 29, 2025, may currently prepare to initiate compensation claims.
In addition to the Cubic Digital Technology investor compensation case, on August 18, lawyer Xu Feng also submitted another filing to the court for the Foshan Yowant Technology Co.,Ltd. (002291) investor compensation case.
Lawyer Xu Feng's team has submitted multiple filings for the Yowant Technology investor compensation case to the Guangzhou Intermediate People's Court, and the legal team continues to accept compensation mandates from other investors.
On December 12, 2023, Yowant Technology issued an announcement regarding the company and related personnel receiving warning letters, stating that it recently received the "Decision on Issuing Warning Letters to Foshan Yowant Technology Co., Ltd., Yu Hongtao, Xie Rudong, Li Gang, He Jianfeng, and Ma Chao" from the Guangdong Securities Regulatory Bureau. After investigation, Yowant Technology was found to have the following violations:
1. During 2021-2022, the company's inventory book value did not match the actual amount.
2. During 2019-2020, some revenue recognition was inappropriate.
3. Inflated revenue, profits, and accounts receivable collections.
4. External financial assistance was not disclosed in a timely manner.
5. Failed to timely disclose guarantee situations of the company and subsidiaries.
6. Failed to timely disclose joint investment arrangements with professional investment institutions.
Based on these violations and according to securities law provisions, investors who purchased Yowant Technology shares between April 23, 2020, and December 12, 2023, and sold or continued holding shares after December 12, 2023, may currently initiate compensation claims.
Comments