On October 27, 2025, the investor claim case against Zhejiang Haikong Nanke Huatie Digital Intelligence & Technology Co., Ltd. (603300), represented by lawyer Xu Feng of Shanghai Jiucheng Law Firm, was re-submitted to the court for filing. The case is currently awaiting further arrangements from the court. The legal team continues to advance the filing of subsequent cases and is still accepting claims from other affected investors.
On the evening of October 16, 2025, Hainan Huatie announced that it had received a "Notice of Case Filing" from the China Securities Regulatory Commission (CSRC). The company is under investigation for suspected violations of information disclosure laws and regulations under the Securities Law and the Administrative Penalty Law.
Previously, on September 30, 2025, Hainan Huatie disclosed the termination of a "Computing Power Service Agreement" by its wholly-owned subsidiary, Hainan Huatie Dahuangfeng Construction Machinery Equipment Co., Ltd. The subsidiary had signed the agreement with Hangzhou X Company in March 2025, committing to provide computing power services over five years with an estimated total contract value of CNY 3.69 billion (tax inclusive). Due to significant changes in market conditions and supply-demand dynamics, and having received no purchase orders since signing, the company formally notified X Company of the agreement's termination.
Lawyer Xu Feng stated that investors who purchased Hainan Huatie shares between March 5, 2025, and October 1, 2025, and sold or held them after October 1, 2025, may still be eligible to file claims.
In addition to the Hainan Huatie case, the investor claim case against Zhejiang Founder Motor Limited Company (002196), also represented by Xu Feng, has been submitted multiple times to the Wenzhou Intermediate People's Court. The legal team continues to accept claims from other affected investors.
On February 5, 2024, Founder Motor announced receiving a "Decision on Administrative Penalty" from the Zhejiang Regulatory Bureau of the CSRC. The investigation revealed that the company had inflated total profits by CNY 78.43 million in 2018, CNY 5.96 million in 2019, CNY 17.92 million in 2020, and CNY 2.31 million in 2021, while underreporting profits by CNY 86.98 million in 2022. These discrepancies accounted for 18.38%, 31.96%, 2.76%, 27.78%, and 26.03% of the absolute values of disclosed profits for the respective periods.
Xu Feng noted that, based on these violations, investors who purchased Founder Motor shares between April 29, 2019, and June 27, 2023, and sold or held them after June 27, 2023, may still file claims. The legal team assures that no fees will be charged unless compensation is secured.
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