On May 15, 2024, the Oriental Network Power (300367) investor claim case represented by Xu Feng of Shanghai Jiucheng Law firm was once again filed by Chengdu-Chongqing Financial Court. The team of lawyers is still continuing to press ahead with the filing of follow-up cases and continue to accept claims from other investors. (lawyer Xu Feng's column)
On December 29, 2023, Dongfang Power received the decision on Administrative punishment issued by the Beijing Regulatory Administration of the Securities Regulatory Commission. It has been found out that the illegal facts of Dongfang Power are as follows.Slotdepositshopeepay:
By means of fictitious contracts and acceptance orders, signing project contracts in advance, and requiring customers to cooperate in signing acceptance documents, Dongfang Netpower and its subsidiaries have not actually executed 81 purchase and sales contracts signed with 22 customers. the revenue was recognized on the basis of no commercial acceptance documents, and the income increased by 14390 in 2017 and 2018 respectively.Slotdepositshopeepay.820,000 yuan, 68870Slotdepositshopeepay720,000 yuan, an inflated profit of 114.4245 million yuan and 419.0978 million yuan, respectively. Dongfang Netpower (Suzhou) Intelligent Technology Co., Ltd., a subsidiary of Dongfang Netpower, purchased servers, supporting software and other assets from four suppliers, and some of the assets were not actually delivered to Suzhou Netpower. The amount of fixed assets purchased by Suzhou Netpower is not consistent with the actual amount of the procurement contract, and the fixed assets have been falsely increased by 114.7396 million yuan and 94.3522 million yuan in 2019 and 2020, respectively.
In December 2020, Dongfang net Power, in order to eliminate the reservations issued by audit institutions on its 2019 financial statements, through the cooperation of external units to provide funds, carried out the circulation of funds without commercial substance, formally recovered prepaid accounts, paid accounts payable, and reduced other non-current financial assets by 185.6444 million yuan in 2020.
Lawyer Xu Feng believes that investors who bought Dongfang Netpower shares between April 25, 2018 and April 7, 2022, and sold or held shares after April 7, 2022, can now file claims. (net power withdraws the right entrance)
ExceptSlotdepositshopeepayOn May 14, the Tongzhou Electronics (002052) investor claim case represented by lawyer Xu Feng was submitted to the Shenzhen Intermediate people's Court for filing. Lawyer Xu Feng previously represented part of the Tongzhou Electronics (002052) investor claim case has been finally won the judgment.
On the evening of July 8, 2021, Tongzhou Electronics (002052) issued a notice on the receipt of the CSRC's "decision on Administrative punishment". The CSRC found out the illegal facts of Tongzhou Electronic: first, confirm the employees' salary liabilities in advance. Second, delayed recognition of asset impairment losses. Third, fictitious sales revenue.
Xu Feng, director of Shanghai Jiucheng Law firm, believes that according to the effective judgment, investors who buy Tongzhou Electronic shares between April 29, 2016 and October 26, 2019, and sell or continue to hold shares after October 26, 2019, can also file claims, but the statute of limitations has entered the final two-month countdown. (ST entry for rights protection on the same continent)
(this article is contributed by lawyer Xu Feng, director of Shanghai Jiucheng Law firm, and does not represent Sina's financial position. Lawyer Xu Feng, who has been a lawyer since 2008, has been a claim agent in the field of securities fraud, such as misrepresentation, insider trading, market manipulation and so on. Over the past ten years, investors who have represented nearly 200 stocks have won the case or obtained compensation through mediation, and in the same period, they have also won or mediated claims for nearly 300 stocks within the limitation of action, and some of them have already won the case and obtained compensation through mediation. License No.: 13101200810965495)
