Formerly Listed Jiangsu Wu Zhong Pharmaceutical Initiates Pre-Reorganization, Affected Shareholders Retain Right to Sue

On July 7, 2026, Jiangsu Wu Zhong Pharmaceutical Development Co., Ltd. (formerly known as: *ST Su Wu, Delisted Su Wu, Su Yao Fa 3, original stock code: 600200) issued an "Announcement Regarding the Court's Decision to Commence Pre-Reorganization Proceedings."

One of the investors' representatives, Attorney Li Jian from Zhejiang Yufeng Law Firm, stated that the claim period for Delisted Su Wu has not yet expired, and shareholders who suffered losses due to misrepresentation can still file lawsuits.

Looking back at the case, on the evening of November 25, 2025, *ST Su Wu released an "Announcement on Receiving the from the China Securities Regulatory Commission." The announcement revealed that, upon investigation, *ST Su Wu and related personnel were found to have committed the following illegal acts: 1. Failure to truthfully disclose the actual controller, resulting in false records in the annual reports from 2018 to 2023; 2. Fabrication of operating revenue, operating costs, and profits, resulting in false records in the annual reports from 2020 to 2023; 3. Failure to disclose non-operating fund occupation by related parties as required, resulting in material omissions in the annual reports from 2020 to 2023. The CSRC decided: to order *ST Su Wu to make corrections, issue a warning, and impose a fine of RMB 10 million; to issue warnings to relevant responsible personnel and impose fines on each. Qian Qunshan was banned from the securities market for 10 years.

According to the Supreme People's Court's judicial interpretation on misrepresentation, if an investor's rights and interests are harmed due to misrepresentation by a listed company or other entities, the investor may file a lawsuit for compensation in accordance with the law. The scope of claims includes investment loss differentials, commission losses, and stamp duty losses.

"The delisting of a listed company does not affect investors' eligibility to claim compensation," stated Attorney Li Jian. According to the judicial interpretation, it is preliminarily determined that investors who purchased *ST Su Wu shares between April 20, 2019, and February 26, 2025, and still held the shares at the market close on February 26, 2025, and suffered losses, may claim compensation in accordance with the law. The eligibility criteria for claims are subject to court determination.

Investors seeking compensation need to provide documents including a securities account information inquiry slip, a stock transaction statement (from April 1, 2019, to the end of December 2025), and contact information.