To The Moon

Investors who have suffered losses can register their claims for the involved companies on the Sina Investor Rights Protection Platform: http://wq.finance.sina.com.cn/ On January 12, 2026, the stock ticker for ST Xinya was restored to "Xinya Zhucheng (Rights Protection)", marking the official delisting of the first A-share company to shed its special treatment status in 2026. This was just the beginning of a wave of such delistings in January 2026. Throughout the month, multiple companies including Xinya Zhucheng, East (Rights Protection), Ningke Biotech, Zhongzhuang Construction, and Zhengton Electronics (Rights Protection) successively announced applications for or the successful removal of their risk warnings. At the beginning of the year, the A-share market witnessed a rare surge of companies shedding their special treatment statuses. In mid-January, an announcement from ST East indicated that the company's shares would be suspended for one day on January 13, 2026, with the removal of other risk warnings taking effect from January 14, 2026. On the same day, *ST Ningke (Rights Protection) also announced that its shares would be suspended for one day on January 13, 2026, resuming trading on January 14, 2026, with the delisting risk warning revoked, though other risk warnings would remain in effect. On January 21, *ST Zhongzhuang (Rights Protection) announced that its shares would be suspended for one day starting January 21, 2026, and would resume trading at the market open on January 22. The announcement specified that the delisting risk warning would be removed from the resumption of trading on January 22, 2026, while other risk warnings would continue to be implemented. As the first A-share company to delist in 2026, Xinya Zhucheng saw its shares suspended for one day on January 12, 2026. Upon resuming trading on January 13, its stock abbreviation was changed back from "ST Xinya" to "Xinya Zhucheng". Zhengton Electronics had announced earlier, at the end of December, that its shares would resume trading at the market open on December 24, 2025, with the stock abbreviation changing from "ST Zhengton" to "Zhengton Electronics". Despite progress in removing their risk warnings, these companies continue to face various operational challenges. Although some have had their delisting risk warnings revoked, other risk warnings remain in place for them. Behind the successful delistings, all these companies had previously faced severe regulatory penalties for serious information disclosure violations. Zhengton Electronics was fined 4 million yuan by the Shenzhen Securities Regulatory Bureau for false records resulting from fabricated business activities. Through its acquisition of Guangzhou Yunshuo, the company falsely increased total profits by 5.0774 million yuan in 2017 and 840,000 yuan in 2019. East's financial fraud was more severe, spanning five years. From 2017 to 2021, the company continuously inflated revenue through means such as fictitious trade. In the peak year of 2018, inflated revenue reached 1.293 billion yuan, accounting for 27.78% of the operating revenue disclosed for that year. The company was fined 8 million yuan, while its former actual controller, He Simo, was fined 10 million yuan and banned from the market for 10 years. Ningke Biotech's 2022 annual report contained false records, inflating both operating revenue and total profit. Both the company and its actual controller, Yu Jianming, received corresponding penalties. Similarly, for financial fraud, the financial indicators disclosed in Zhongzhuang Construction's annual reports from 2017 to 2021 contained false records, leading to a formal penalty being imposed on April 19, 2025. Xinya Zhucheng failed to disclose related-party non-operational fund occupancy in a timely manner as required, and its provision for accounts receivable bad debt was inaccurate, leading to an overstatement of total profit in relevant periodic reports. The financial data disclosed in the company's 2022 annual report and 2023 interim report were not true or accurate. Every fluctuation in the stock prices of these "reborn" companies affects the nerves of thousands of investors who previously suffered losses due to misrepresentation. Liu Peng, a lawyer from Shanghai Huzi Law Firm, stated that this wave of delistings reveals the interactive logic between regulation and the market. Strict financial supervision and penalty mechanisms are shaping market order while giving companies the opportunity to correct mistakes and get back on track. It is noteworthy that all five of the aforementioned companies have been sued for securities misrepresentation by investors seeking compensation in court. Currently, claims against Zhongzhuang Construction, Ningke Biotech, and East have made significant progress, with investors winning favorable judgments and some already receiving compensation. Cases involving Xinya Zhucheng and Zhengton Electronics are still under trial. Successful delisting is undoubtedly positive news for investors, and the companies' improved development also has a positive impact on investor claims. All the aforementioned cases are within the statute of limitations, and eligible investors are advised to participate in the claims as soon as possible. Zhongzhuang Construction: Investors who purchased shares between April 16, 2018, and December 15, 2023, and sold them after December 16, 2023, or still hold them at a loss. Zhengton Electronics: 1. Investors who purchased shares between April 15, 2021, and April 29, 2024, and sold them after April 30, 2024, or still hold them at a loss. 2. Investors who purchased shares between April 24, 2018, and May 30, 2024, and sold them after May 31, 2024, or still hold them at a loss. Ningke Biotech: 1. Investors who purchased shares between November 22, 2022, and April 5, 2023, and sold them after April 6, 2023, or still hold them at a loss. 2. Investors who purchased shares between April 28, 2023, and on or before October 30, 2024, and sold them after October 31, 2024, or still hold them at a loss. East: Investors who purchased shares between March 15, 2018, and May 11, 2023, and sold them after May 12, 2023, or still hold them at a loss. Xinya Zhucheng: Investors who purchased shares between April 28, 2023, and January 10, 2024, and sold them after January 11, 2024, or still hold them at a loss.