On the evening of August 7, 2026, Piesat Information Technology Co., Ltd. (referred to as Piesat, *ST航图 for tracking, code: 688066) issued an announcement regarding the receipt of a notice of case filing from the China Securities Regulatory Commission. Due to suspected violations of information disclosure regulations by the company and its actual controller, Mr. Wang, the CSRC has decided to initiate an investigation into the company and Mr. Wang, in accordance with the Securities Law of the People's Republic of China and the Administrative Penalty Law of the People's Republic of China.
Lawyer Li Jian from Zhejiang Yufeng Law Firm, who has represented investors in winning lawsuits against over 130 listed companies and secured compensation, stated that based on the relevant announcement, Piesat is suspected of securities misrepresentation, and affected investors may legally claim damages.
According to the judicial interpretation of the Supreme People's Court on false statements, if listed companies cause investor rights to be harmed through securities misrepresentation, investors may file lawsuits to seek compensation, covering investment difference losses, commission fees, and stamp duty losses. Lawyer Li Jian indicated that, per the judicial interpretation, a preliminary eligibility condition is set for affected investors who still held Piesat shares at the close of trading on April 30, 2026. The claim conditions will be further adjusted based on the CSRC's investigation conclusions, with the final determination subject to court approval.
Investors seeking compensation need to provide documents including a securities account opening inquiry form, a stock transaction statement (from the first purchase date to the present), and contact information.
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