Investors who have suffered losses can register their claims through the Sina Investor Rights Protection platform.
On the evening of March 20, 2026, and the evening of March 22, 2026, two listed companies, ST Eastern Pioneer Driving School Co.,Ltd. and Shuangliang Eco-Energy Systems Co.,Ltd., respectively announced that they and certain responsible individuals had received the "Advance Notice of Administrative Penalty" from the Beijing Securities Regulatory Bureau. These companies had previously been placed under investigation by the securities regulator on May 30, 2025, and February 28, 2026, respectively.
According to the advance notice of administrative penalty issued by the regulator, the primary violation involving ST Eastern Pioneer Driving School Co.,Ltd. is as follows: In 2022, the company failed to account for the land leasing business of its subsidiary, Chongqing Eastern Pioneer Driving Training Co., Ltd., leading to underreported administrative and financial expenses. This resulted in misrepresentations in the company's semi-annual report for 2022 and its annual report for 2022, which falsely increased profits by 9,402,916.83 yuan and 18,931,027.65 yuan, respectively. These amounts accounted for 30.97% and 82.33% of the total profits disclosed for the respective periods.
The primary violation involving Shuangliang Eco-Energy Systems Co.,Ltd. is as follows: At 13:02 on February 12, 2026, the "Shuangliang Group" WeChat official account published an article titled "Shuangliang Eco-Energy Secures Another Overseas Order, Aiding Commercial Space Exploration." At 13:25, the "Shuangliang Eco-Energy" WeChat official account published an article with the same title and content. The article stated that the company had secured three overseas orders totaling 12 high-efficiency heat exchangers for the fuel production system supporting the expansion of the SpaceX Starship launch base. Due to internal communication issues, the articles were not published simultaneously on both accounts as planned. Starting at 13:05 on February 12, 2026, the company's stock price began to rise rapidly and hit the daily limit-up by 13:26. At 17:20 on the same day, the company issued an announcement clarifying that the total value of the three orders mentioned was approximately 13.923 million yuan, representing about 0.11% of its audited operating revenue for 2024, and therefore would not have a significant impact on its performance. It also clarified that the company did not cooperate directly with SpaceX and was a non-exclusive indirect supplier for the project, noting that future orders are subject to uncertainty. On February 13, 2026, the company's stock price opened at the daily limit-down.
Partner Zhang Yun from Jiangsu Zhenze Law Firm stated that since ST Eastern Pioneer Driving School Co.,Ltd. and Shuangliang Eco-Energy Systems Co.,Ltd. have received advance notices of administrative penalties, affected investors may participate in compensation claims. Preliminary criteria for eligible investors are as follows: Those who purchased shares of ST Eastern Pioneer Driving School Co.,Ltd. between August 13, 2022, and April 29, 2024, and sold or held these shares after April 30, 2024, incurring losses; and those who purchased shares of Shuangliang Eco-Energy Systems Co.,Ltd. in the afternoon of February 12, 2026 (after 13:25), and sold or held these shares after February 13, 2026, incurring losses.
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