Financial Misconduct Penalty Hits Haitai Development as Investor Claims Move to Court Filing Stage

Shanghai Huzi Law Firm's attorney Liu Peng team has recently submitted compensation claims for 30 investors to the court for case filing, with the claim collection process still actively ongoing. Haitai Development received an administrative penalty decision from the Tianjin Regulatory Bureau for false records in its 2021 and 2022 annual reports, resulting in combined fines totaling 9.3 million yuan.

Public records show that Haitai Development, the sole state-controlled listed company in Tianjin Binhai High-tech Zone, primarily engages in industrial real estate development. Investors who purchased shares between April 30, 2022, and February 27, 2026, and either sold them after February 28, 2026, or held them at a loss, are eligible to register for rights protection claims.

According to investigations by the China Securities Regulatory Commission's Tianjin bureau, Haitai Development acted as an intermediary in cotton trading businesses led by downstream companies during 2021 and 2022. However, the business model turned out to be closed-loop transactions, with no substantial transfer of associated rewards and risks. Under accounting standards, revenue, operating costs, and profits from such transactions should not have been recognized. Through this approach, the company's financial data over the two-year period was severely inaccurate.

Under the Securities Law and relevant judicial interpretations from the Supreme People's Court, investors who suffered losses due to listed companies' violations in information disclosure have the right to file civil compensation lawsuits. On the earnings front, on August 29, 2026, ST Haitai published its interim report, showing total operating revenue of 18.9928 million yuan, up 392,300 yuan or 2.11% year-on-year. Net profit attributable to parent shareholders stood at -29.5202 million yuan, improving by 542,500 yuan compared to the same period last year, marking two consecutive years of growth.

Investor compensation claims continue to advance steadily, and those who meet the criteria are encouraged to join the claim process promptly to recover their losses through legal channels.