From October 20 to 22, by the banks of Shanghai's Huangpu River, the 2026 Sustainable Global Leaders Conference will once again arrive. Nobel Prize and Turing Award winners will share on-site insights into the future and trends of technology, and there will even be a dialogue between internet-famous professors who "rescue" people from anxiety and the era of involution — Macfarlane and Xiang Biao!
Limited spots available, first come first served. Let us embark together on this journey toward sustainability! [Click to register] Shareholders who have suffered losses can register their rights protection for this company at the Sina Investor Rights Protection Platform: http://wq.finance.sina.com.cn/ Follow @Sina Securities, follow Sina Brokerage Fund on WeChat, search for Sina Investor Rights Protection on Baidu, or visit the Sina Finance client and Sina Finance homepage to find us. Recently, Shanghai Huxi Law Firm has been preparing litigation materials for the investor compensation case involving Fucheng Shares and will submit them to the competent court in order for filing.
Looking back at this case, on July 28, 2026, *ST Fucheng (rights protection) issued an announcement stating that the company had received an Administrative Regulatory Measures Decision issued by the Hebei Regulatory Bureau of the China Securities Regulatory Commission. Due to multiple inaccurate disclosure matters in the company's 2025 Annual Report, the Hebei Regulatory Bureau decided to issue warning letters as administrative regulatory measures to the company, Chairman and General Manager Li Liang, and Board Secretary Li Wei, and to record these in the securities and futures market integrity archive.
According to the administrative regulatory measures decision and the company's subsequent correction announcement, the errors in this annual report disclosure were mainly reflected in the following core aspects: 1. The fund receipt amount was severely "shrunk": In its 2025 annual report, the company disclosed that "as of the end of this reporting period, Hehui Fund had cumulatively received various payments from Qianjiang Cemetery and Zhou Xiaoming totaling 237 million yuan." Upon verification, this figure contained a major omission, and the actual cumulative receipt amount should have been 274 million yuan, a difference of as much as 37 million yuan. 2. The total number of shareholders was inaccurately disclosed: The annual report disclosed the "total number of common shareholders as of the end of the month preceding the disclosure date of the annual report" as 27,850, but after subsequent correction, the actual figure should have been 28,847, a difference of nearly one thousand. The above data directly relate to investors' basic judgments about the company's capital recovery status and shareholder structure.
Fucheng Shares' information disclosure crisis and audit crisis intertwined, triggering a violent reaction in the secondary market. Because the auditing firm issued a "disclaimer of opinion" audit report on the company's 2025 financial statements and issued an "adverse opinion" on internal control, the company's stock has been subject to delisting risk warning and other risk warnings since May 6, 2026, and its abbreviation was changed to "*ST Fucheng." After the news was announced, the market voted with its feet, and the company's stock price suffered six consecutive "one-line" limit-downs, with a huge cumulative decline and severe shrinkage in market value, causing heavy losses to investors holding the stock. Currently, those who bought before April 24, 2026 (inclusive) and sold after April 25, 2026, or still hold the stock at a loss, can register for compensation.
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