Investors affected can register their claims through the Sina investor protection platform: http://wq.finance.sina.com.cn/ Follow @Sina Securities, WeChat for Sina Securities Fund, search for Sina Investor Protection on Baidu, or visit the Sina Finance app or homepage to find us! Part of the compensation case for investors of Shandong Hiking International Co., Ltd. (600735), represented by Lawyer Xu Feng of Shanghai Jiucheng Law Firm, has been officially accepted by the court, and they are now awaiting the next steps from the court. Meanwhile, they are continuing to push for the registration of subsequent cases and are still accepting claims from other investors. (Lawyer Xu Feng's column) On August 27, 2025, Shandong Hiking announced that it had received a decision from the Qingdao Securities Regulatory Bureau regarding corrective measures against Shandong Hiking International Co., Ltd., Shandong Hiking Group Co., Ltd., and Zhang Jianhua, indicating a non-operational fund occupation of 406 million yuan as of the disclosure date of the 2025 semi-annual report. Investigations revealed that Zhang Jianhua, the actual controller of Shandong Hiking International Co., Ltd., had controlled the non-operational occupation of company funds by Shandong Hiking Group Co., Ltd. According to the company’s 2025 semi-annual report, as of the report's disclosure date, the non-operational occupation of company funds by Shandong Hiking Group and its related parties totaled 406 million yuan. This behavior violates the provisions regarding listed company supervision guidelines (CSRC Announcement [2022] No. 26). Lawyer Xu Feng believes that based on the aforementioned violations, investors who purchased Shandong Hiking stocks between May 8, 2025, and August 27, 2025, and sold or continued holding the stocks after August 27, 2025, are entitled to initiate compensation claims. (Shandong Hiking investor protection link) In addition to the ongoing compensation case for Shandong Hiking investors, Lawyer Xu Feng also reminded that a misleading statement compensation lawsuit initiated by some investors of Qingdao Topscomm Communication Inc. has received a final judgment in their favor. Lawyer Xu Feng’s team is currently still accepting claims from other investors. Previously, on May 9, 2024, Qingdao Topscomm announced that it had received an administrative penalty decision from the Qingdao Securities Regulatory Bureau. The investigation found the following violations: 1. Qingdao Topscomm failed to timely disclose significant changes in external conditions affecting production and operation. 2. Qingdao Topscomm did not timely disclose the disposal situation of shares held by its controlling shareholder and actual controller. Lawyer Xu Feng believes that, referencing previous investors’ favorable rulings, investors who bought Qingdao Topscomm stocks from March 1, 2024, to March 30, 2024, and sold or continued to hold the stocks after March 30, 2024, are also eligible to initiate compensation claims. (Qingdao Topscomm investor protection link) (This article is contributed by Lawyer Xu Feng, director of Shanghai Jiucheng Law Firm, and does not represent the stance of Sina Finance. Lawyer Xu Feng has been practicing since 2008, focusing on compensation representation in securities fraud areas such as false statements, insider trading, and market manipulation. He has successfully represented investors' claims in nearly 200 stocks over the years and is currently handling claims for nearly 300 other stocks within the statute of limitations, with some cases already having favorable judgments and settlements. License No.: 13101200810965495)
For a wealth of information and precise interpretations, check out the Sina Finance app.
Comments