Investors who suffered losses can register claims for the company through the investor rights protection platform at http://wq.finance.sina.com.cn/. The platform is accessible via following SINA Corp on social media, WeChat accounts for brokerages and funds, Baidu searches, or the Sina Finance client and homepage.
On August 11, 2026, a new batch of investor lawsuits against Hongda Xingye (002002) for alleged false statements was accepted by the court, with the legal team at Shanghai Jiucheng Law Firm handling the cases. The filings are currently awaiting the court's next steps, while work continues on additional cases and accepting mandates from other affected investors.
On June 27, 2025, Hongda Xingye announced it had received a "Decision on Administrative Penalties" from the Jiangsu Securities Regulatory Bureau. The investigation revealed several violations. First, the company improperly changed the use of funds raised in 2019. Second, its annual reports for 2019 through 2022, the semi-annual report for 2023, and related special reports on the use and actual status of raised funds, as well as announcements about returning raised funds, contained false records. This included inflating total profits by overstating revenue and understating costs and expenses, leading to false records in the 2020 to 2022 annual reports and the 2023 semi-annual report. Additionally, false statements were made regarding the use of raised funds and the return of temporarily idle funds used for working capital. Third, the company failed to timely disclose major litigation, arbitration, and significant guarantee matters.
Xu Feng, director of Shanghai Jiucheng Law Firm, which specializes in stock-related litigation, stated that investors who purchased Hongda Xingye shares between January 6, 2020, and September 23, 2023, and held those shares after September 23, 2023, or sold them later, can still file claims. The deadline for filing is approaching.
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