On December 25, 2021, Shandong Xinchao Energy Co., Ltd. or Xinchao Energy) was administratively punished by the China Securities Regulatory Commission.
The main violation was the failure to disclose the guarantee of the company as a guarantor in a timely manner. The China Securities Regulatory Commission imposed a penalty of 300,000 yuan on the company.
On December 30, 2022, the company was once again subject to administrative penalties by the China Securities Regulatory Commission.
The main violation was the failure to timely disclose the statute of limitations for the company's obligation to make up the difference to Guangzhou Rural Commercial Bank.
The China Securities Regulatory Commission imposed a penalty of 1 million yuan on the company.
According to the "** Law" and the judicial interpretation of the Supreme People's Court, listed companies are punished by the China Securities Regulatory Commission for illegal information disclosure, and damaged investors can sue for compensation in accordance with the law, including investment differences, commissions, and stamp duty.
Regarding the conditions of the claim, Guangzhou Janssen's legal team believes that the tentative following:
1. Investors who incurred losses by selling or continuing to hold the company** during the period from October 8, 2017 to December 18, 2018 (600777), and selling or continuing to hold the company** after December 19, 2018;
2. Investors who incurred losses by selling or continuing to hold the company** during the period from June 27, 2017 to March 3, 2021 (600777) and selling or continuing to hold the company after March 4, 2021.
Of course, this is only the investor's right to sue, and whether there is a causal relationship and whether it can be supported still needs to be determined by the court.
In particular, the lawyer reminds that the statute of limitations is three years, and if the investor does not claim his rights in time, he is likely to lose the right to win the lawsuit due to the expiration of the statute of limitations.