The latest news on the Red Sun claim
On January 9, 2024, 000525 Red Sun issued the "Progress Announcement on the Company's Pre-Reorganization Matters", which shows that on September 16, 2022, Nanjing Red Sun Co., Ltd. received the (2022) Su 01 Po Shen No. 62 "Notice" and "Reorganization Application" served by the Nanjing Intermediate People's Court. and apply for the commencement of pre-reorganization proceedings in advance.
Previously, Red Sun received the "Administrative Penalty Decision" from the China Securities Regulatory Commission on September 6, 2023 for violating laws and regulations. According to the CSRC, the following illegal facts existed: 1. Red Sun failed to disclose the related party transactions of the controlling shareholder and its related parties for non-operating occupation of funds as required. 2. There are false records in Red Sun's "2019 Annual Report", "2020 Semi-Annual Report" and "Announcement on the Return of Non-operating Occupied Funds of Listed Companies by Controlling Shareholders and Their Related Parties", and the controlling shareholders and their related parties have not substantially returned the occupied funds. 3. Red Sun failed to disclose the relevant matters related to the freezing of the controlling shareholder's shares in a timely manner.
Xie Baoping's lawyer team said: Red Sun has received a penalty decision for violating laws and regulations in information disclosure, and damaged investors can claim compensation in accordance with the law. At present, several batches of investor claims have been filed.
Red Sun claim registration conditions, Red Sun claim range
000525 Red Sun between May 29, 2020 and April 29, 2021** and sold or continued to hold it after April 30, 2021 (inclusive).
The above claim registration conditions only represent the views of Xie Baoping's financial team, and are not used as any investment decisions and buying and selling recommendations, and are subject to the final determination of the court.
The latest news on the Red Sun lawsuit
Received the administrative penalty decision of the China Securities Regulatory Commission, and the court is in the process of filing the case.
Red Sun's claim for non-compliance basis
On July 6, 2020, Red Sun received the "Investigation Notice" (No. 2020084 of Shanghai Securities Special Investigation Zi) from the China Securities Regulatory Commission (CSRC) on suspicion of illegal information disclosure.
On March 24, 2023, Red Sun received the "Prior Notice of Administrative Punishment and Market Prohibition" (Penalty Zi 2023 No. 8) delivered by the China Securities Regulatory Commission.
On September 6, 2023, Red Sun announced that recently, the company and related parties received the "Administrative Penalty Decision" (2023 No. 61) made by the China Securities Regulatory Commission.