On October 1, 2025, Baiyin Nonferrous Group Co.,Ltd. (Stock Code: 601212) released an announcement regarding receipt of an Administrative Penalty Prior Notice from the Gansu Securities Regulatory Bureau of the China Securities Regulatory Commission.
According to investigations by the Gansu Securities Regulatory Bureau, Baiyin Nonferrous Group Co.,Ltd. allegedly committed the following violations: Between August 2017 and March 2018, the company successively purchased 30 billion yuan in wealth management products. These products were not recovered as scheduled in 2019, with principal and related returns finally recovered by December 2024. While Baiyin Nonferrous Group Co.,Ltd. disclosed the opening and closing balances of the 30 billion yuan wealth management products in the "Other Current Assets" section of its annual reports from 2019 to 2024, it failed to disclose specific details of these products as required by relevant regulations. This constituted a major omission in information disclosure in the company's annual reports from 2019 to 2024. Consequently, the Gansu Securities Regulatory Bureau intends to order corrections, issue warnings, and impose fines on both the company and related responsible personnel.
Previously, on September 11, 2025, Baiyin Nonferrous Group Co.,Ltd. had announced receipt of a Case Filing Notice from the China Securities Regulatory Commission.
According to the Civil Code, Securities Law, and Supreme People's Court judicial interpretations regarding civil compensation for false statements, listed companies, controlling shareholders, actual controllers, directors, supervisors, senior executives, and their intermediary institutions that cause damage to securities investors' rights through false statements and other securities fraud should bear civil compensation liability. The scope of compensation includes investment losses, commissions, stamp taxes, and interest losses. Securities investors whose rights have been damaged may file civil compensation lawsuits with competent courts.
Due to Baiyin Nonferrous Group Co.,Ltd.'s suspected information disclosure violations and pre-penalty notice from the China Securities Regulatory Commission, lawyer Song Yixin from Shanghai Hanlian Law Firm is soliciting litigation representation from securities investors who previously purchased the company's securities to protect their legitimate rights and interests through compensation lawsuits.
Lawyer Song Yixin believes the compensation conditions for the Baiyin Nonferrous Group Co.,Ltd. case are: investors who purchased the company's stocks, bonds, or other publicly issued securities between April 30, 2020, and September 10, 2025, and sold them on or after September 11, 2025, or continue to hold them, may register for compensation claims.
**Legal Advice and Disclaimers:**
1. The above compensation conditions are for reference only and do not constitute investment advice or securities trading recommendations. Final compensation conditions will be adjusted based on the China Securities Regulatory Commission's administrative penalty conclusions and determined by the legal time points, compensation targets, scope, standards, and calculation methods recognized in relevant court judgments.
2. Although investors may directly file lawsuits after the removal of administrative penalty decision prerequisites, due to limited investigation methods, lawsuits based solely on investigation notices or administrative supervisory measures face risks of defeat. Therefore, administrative penalty decisions should still be considered necessary prerequisites for litigation.
3. In proposed civil tort litigation cases, whether a listed company is delisted does not affect the civil compensation litigation process, though it may impact litigation progress. Entry into bankruptcy proceedings (including restructuring, pre-restructuring, or liquidation) may significantly affect litigation progress. In representative litigation, investors may choose to participate or not, join or withdraw.
4. Investors registering for compensation claims should provide: (1) Copy of ID card; (2) Original Securities Account Opening Information Confirmation (stamped by securities company branch); (3) Original Securities Trading Records from first purchase to present (stamped by securities company branch).
This article is provided by lawyer Song Yixin from Shanghai Hanlian Law Firm and does not represent any editorial viewpoint. Lawyer Song Yixin has practiced law since 1992 and is currently a partner at Shanghai Hanlian Law Firm. His practice focuses on capital markets, securities markets, financial markets legal services, and investor/financial consumer rights protection. Throughout his career, he has provided legal services for over 10,000 securities litigation cases or shareholder disputes.
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