Lawyer Liu Peng's team from Shanghai Huxi Law Firm has recently submitted several cases to the court for filing and trial, and the compensation claims are still being collected, with cases filed on a first-come, first-served basis.
The claim eligibility criteria require investors to have purchased shares between January 17, 2022 and July 8, 2026 (inclusive), and to have sold or still hold shares at a loss after July 9, 2026.
The company is being sued in connection with its financial fraud. According to the investigation by the securities regulator, Jiayuan Technology employed two deceptive accounting tactics between 2019 and 2022.
First, premature revenue recognition. Between 2019 and 2022, Jiayuan Technology signed multiple contracts with a certain client. Without meeting the conditions for revenue recognition, the company recognized revenue ahead of schedule, causing its operating revenue and total profit to swing between significant inflation and deflation over those four years.
Second, transactions lacking commercial substance. In 2020, Jiayuan Technology inserted itself into purchase and sale transactions between Wuxi Jindu Machinery Equipment Co., Ltd. and Kunming Boyuan Zhongling Technology Co., Ltd. These transactions lacked commercial substance, resulting in an inflated operating revenue of 13.2795 million yuan and an inflated total profit of 442,400 yuan.
The company received a warning and a fine of 6 million yuan. The chairman, chief financial officer, vice president, former board secretary, and other responsible individuals were collectively fined 8.5 million yuan, bringing the total penalties to 14.5 million yuan.
Under relevant laws and judicial interpretations, listed companies that cause damage to investor rights through information disclosure violations must bear civil compensation liability. The final claim eligibility criteria and compensation amounts shall be subject to the effective court judgment.
Eligible investors may prepare materials including a copy of their ID card, a securities account opening information confirmation form, and stock trading statements stamped with the branch office seal.
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