Injured shareholders can register for the company\’s rights protection on the Sina Shareholder Rights Protection Platform: http://wq.finance.sina.com.cn/ Follow @Sina Securities, follow Sina Brokerage Funds on WeChat, search Sina Shareholder Rights Protection on Baidu, and visit Sina Finance Client You can find us on the homepage of Sina Finance! On the evening of April 24, Zhejiang Furun (ST Furun (rights protection), 600070) announced that it had received the \”Administrative Penalty Advance Notice\” issued by the Zhejiang Supervision Bureau of the China Securities Regulatory Commission. Lawyer Xu Feng from Shanghai Jiucheng Law Firm reminded that the penalty After the notice is served, some investors who have been harmed by false statements can now initiate claims to remind investors to pay attention.
(Column of Lawyer Xu Feng) The above-mentioned \”Advance Notification of Administrative Punishment\” announcement information shows that after investigation, the facts that Zhejiang Furun is suspected of violating the law are as follows: From January 2020 to the first half of 2022, Hangzhou Tai, a wholly-owned subsidiary of Zhejiang Furun Yizhishang Technology Co., Ltd. fabricates the advertising agency process, and in the name of a secondary advertising agency, purchases traffic from Xiakexing (Shanghai) Advertising Co., Ltd. or Weilan Starry Sky (Beijing) Information Technology Co., Ltd. arranged by it, and then sells it to an agreement between the two parties. Shanghai Lanyun Advertising Co., Ltd., Tibet Lanyun Advertising Co., Ltd., Lhasa Entertainment Media Co., Ltd. and other companies have formed idle agency business without commercial substance.
The company inflated operating income and operating costs through the aforementioned fictitious business, resulting in false records in the 2020 annual report, 2021 annual report and 2022 semi-annual report disclosed by the company.
From 2020 to the first half of 2022, the company\’s inflated operating income totaled 717,225,918.88 yuan, and its inflated operating costs totaled 715,512,264.14 yuan.
Among them, in 2020, the operating income was inflated by 365,766,164.15 yuan, and the operating cost was inflated by 364,924,901.98 yuan, accounting for 12.04% and 13.30% of the amount disclosed in the current period respectively; in 2021, the operating income was inflated by 142,612,952.84 yuan, and the operating cost was inflated by 143,233,987.18 yuan, accounting for 12.04% and 13.30% of the amount disclosed in the current period respectively. 10.87% and 11.11% of the amount; in the first half of 2022, the operating income was inflated by 208,846,801.89 yuan, and the operating cost was inflated by 207,353,374.98 yuan, accounting for 69.05% and 69.79% of the amount disclosed in the current period respectively.
On April 28, 2023, Zhejiang Furun issued the \”Announcement on the Correction and Retrospective Adjustment of Previous Accounting Errors\” to adjust the relevant financial data in the 2020 annual report, 2021 annual report and 2022 semi-annual report.
Lawyer Xu Feng, director of Shanghai Jiucheng Law Firm, believes that based on the current actual situation, Zhejiang Furun shares were bought between August 27, 2022 and April 28, 2023, and sold after April 28, 2023. Or investors who continue to hold stocks can now initiate claims.
(ST Furun Rights Protection Portal) (This article was contributed by lawyer Xu Feng, director of Shanghai Jiucheng Law Firm, and does not represent the position of Sina Finance.
Lawyer Xu Feng has been practicing law since 2008. His practice scope covers claims representation in the fields of securities fraud such as false statements, insider trading, and market manipulation.
Over the past decade or so, we have represented investors in nearly 200 stocks and have won lawsuits or obtained compensation through mediation. During the same period, we have also represented nearly 300 stock claims cases within the statute of limitations. Some of them have also had precedents of winning lawsuits and obtaining compensation through mediation.
Practice certificate number: 13101200810965495)
