On September 28, 2025, the investor compensation case for Qingdao Zhongzi Zhongcheng Group Co.,Ltd. (300208) represented by lawyer Xu Feng from Shanghai Jiucheng Law Firm received another court filing from Qingdao Intermediate People's Court. Some cases have previously been accepted by the court, and the legal team is currently continuing to advance the filing work for subsequent cases while continuing to accept compensation commissions from other investors.
On April 30, 2025, Qingdao Zhongzi Zhongcheng Group Co.,Ltd. (300208) announced receiving the "Administrative Penalty Prior Notice" issued by the CSRC. After investigation, the violations by Qingdao Zhongzi Zhongcheng Group Co.,Ltd. and related personnel are as follows:
First, Qingdao Zhongzi Zhongcheng Group Co.,Ltd.'s annual reports from 2017 to 2022 contained false statements.
From 2017 to 2021, financial data related to Qingdao Zhongzi Zhongcheng Group Co.,Ltd.'s Philippines wind-solar integrated project contained false statements. The wind power project falsely recognized revenue and profits when revenue recognition conditions were not met, while the solar project recognized revenue and profits prematurely by inflating project progress. From 2020 to 2022, Qingdao Zhongzi Zhongcheng Group Co.,Ltd. inflated financial data related to Indonesian mining rights. The CIS coal mine mining right certificate was revoked, which Qingdao Zhongzi Zhongcheng Group Co.,Ltd. knew no later than 2020; the JAYA manganese mine mining right expired in June 2021. Qingdao Zhongzi Zhongcheng Group Co.,Ltd. did not write off these assets and continued to list them as intangible assets in financial statements.
Second, Qingdao Zhongzi Zhongcheng Group Co.,Ltd. failed to disclose major litigation matters as required.
Lawyer Xu Feng believes that based on the above violations and securities law provisions, investors who purchased Qingdao Zhongzi Zhongcheng Group Co.,Ltd. shares between April 25, 2018, and April 29, 2024, and sold or continued to hold shares after April 29, 2024, can still initiate compensation claims.
In addition to the court filing for the Qingdao Zhongzi Zhongcheng Group Co.,Ltd. investor compensation case, the Enjoyor Technology Co.,Ltd. (300020) investor compensation case is also continuing to advance.
The Enjoyor Technology Co.,Ltd. (300020) investor compensation case represented by lawyer Xu Feng has been submitted to the court for filing multiple times and is currently awaiting the court's next arrangements. The legal team is simultaneously continuing to accept compensation commissions from other investors.
On April 22, 2025, Enjoyor Technology Co.,Ltd. announced receiving the "Administrative Penalty Decision" issued by the CSRC Zhejiang Bureau on April 21, 2025. After investigation, Enjoyor Technology Co.,Ltd. and others had the following violations:
First, Enjoyor Technology Co.,Ltd. failed to disclose non-operating capital occupation by related parties as required, with false statements in the 2023 annual report and 2024 interim report.
Second, Enjoyor Technology Co.,Ltd. failed to disclose related party guarantees as required, with major omissions in annual reports from 2018 to 2023.
Third, financial reports from 2021 to the third quarter of 2023 contained false statements.
Fourth, information disclosure in Enjoyor Technology Co.,Ltd.'s related announcement documents was inaccurate and incomplete.
Xu Feng, director of Shanghai Jiucheng Law Firm, believes that based on the above violations and securities law provisions, investors who purchased Enjoyor Technology Co.,Ltd. shares between April 19, 2019, and April 30, 2024, and sold or continued to hold shares after April 30, 2024, can still initiate compensation claims.
(Lawyer Xu Feng has been practicing law since 2008, with practice services covering compensation representation in securities fraud areas including false statements, insider trading, and market manipulation. Over more than ten years, he has represented investors in nearly 200 stocks for successful litigation or mediation compensation, while simultaneously representing compensation cases for nearly 300 stocks within the statute of limitations, some of which have also achieved successful litigation and mediation compensation precedents. Practice certificate number: 13101200810965495)
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