Investors who suffered losses can register their claims on the platform at: http://wq.finance.sina.com.cn/.
Recently, both Zhonghui Certified Public Accountants (Special General Partnership), the audit firm for Jiangsu Suzhou Wu Pharmaceutical Development Co., Ltd. (formerly known as *ST Suzhou Wu, delisted Suzhou Wu, Suzhou Pharmaceutical Issue 3, original stock code: 600200) for the 2020-2021 annual reports, and Zhongxingcai Guanghua Certified Public Accountants (Special General Partnership), the auditor for the 2022-2023 annual reports, have received "Administrative Penalty Decisions" from the China Securities Regulatory Commission (CSRC).
Attorney Li Jian from Zhejiang Yufeng Law Firm, representing some investors, stated that the statute of limitations for claims against delisted Suzhou Wu has not yet expired, and shareholders harmed by the false statements can still file lawsuits.
Reviewing the case, on the evening of November 25, 2025, *ST Suzhou Wu announced the receipt of the CSRC's "Administrative Penalty Decision." The announcement revealed that the company and related individuals were found to have committed the following violations: first, failing to truthfully disclose the actual controller, with false records in the 2018 to 2023 annual reports; second, inflating revenue, costs, and profits, with false records in the 2020 to 2023 annual reports; third, failing to disclose related-party non-operational fund occupation as required, resulting in significant omissions in the 2020 to 2023 annual reports.
The CSRC decided to order *ST Suzhou Wu to correct the issues, issued a warning, and imposed a fine of 10 million yuan. Relevant responsible individuals were also warned and fined. Qian Qunshan was banned from the securities market for 10 years.
According to the Supreme People's Court's judicial interpretation on false statements, if listed companies and others cause investor losses due to securities misrepresentation, investors can sue for compensation, covering investment losses, commissions, and stamp duty taxes.
"A company's delisting does not affect investors' eligibility to claim compensation," Attorney Li Jian said. Based on the judicial interpretation, it is tentatively determined that investors who bought *ST Suzhou Wu shares between April 20, 2019, and February 26, 2025, and still held them at the close on February 26, 2025, can seek compensation. The final claim conditions will be determined by the court.
Investors claiming compensation need to provide securities account opening information, stock transaction records (from April 1, 2019, to the end of December 2025), and contact details.
[This article is contributed by Attorney Li Jian from Zhejiang Yufeng Law Firm and does not represent the views of SINA. Attorney Li Jian is a director of the Securities Law Research Society of the China Law Society, a securities dispute mediator for the China Securities Association, and was honored as an "Outstanding Young Lawyer of Zhejiang Province" in 2009. Since 2003, Attorney Li Jian has represented investors in winning lawsuits against over 130 listed companies, including Wuliangye and Dazhihui, with significant success. Cases such as Xiangyuan Culture and Zhao Wei were selected as one of the Top Ten Commercial Cases of the People's Court in 2019, the Hangxiao Steel Structure case was listed as one of the "Top Ten Mediation Cases of National Courts" in 2012, the Huifeng Stock case was the first securities dispute ordinary representative case in Jiangsu Province, and the Dongfang Electronics case was the first major civil securities compensation case in China. Attorney Li Jian has been interviewed by over 100 media outlets, including CCTV, Xinhua News Agency, Securities Times, Securities Daily, China Securities Journal, People's Court Daily, and China Business News, and has been cited in more than 1,000 articles. License number: 13301200210145176]
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