Log in to Sina Finance APP to search [Xinpi] to view more evaluation levels

Recently, lawyer Zhang Xiangbing from Jiangsu Boaixing Law Firm, which has represented many major impact cases, specifically reminded that the administrative penalty decision of Zhongtai Chemical (Rights Protection)(ST Zhongtai) has been issued and the investor claim case has been initiated.

On May 18, 2024, Xinjiang Zhongtai Chemical Co., Ltd.(hereinafter referred to as: Zhongtai Chemical, ST Zhongtai) issued an announcement stating that the company and relevant responsible persons had received the "Administrative Penalty Decision" issued by the Xinjiang Securities Regulatory Bureau.

It was found that the parties involved had the following illegal facts: (1) There were false records in Zhongtai Chemical's 2022 annual report;(2) Failure to disclose in a timely manner related transactions occupied by non-operating funds by the controlling shareholder and its related parties, 2021 Annual Report, There are major omissions in the 2022 annual report;(3) There are false records and major omissions in the annual report on the duration disclosure of the corporate bonds and debt financing instruments involved in the case, and the information disclosure in the relevant bond prospectus is inaccurate. Our bureau has decided to impose administrative penalties on Zhongtai Chemical and related responsible personnel.

Lawyer Zhang Xiangbing believes that the judicial interpretation of the Supreme People's Court stipulates that if the information disclosure obligor violates laws, administrative regulations, rules and normative documents formulated by regulatory authorities on information disclosure, which constitutes a false statement, the damaged investor can sue for compensation in accordance with the law. The actual losses incurred include: loss of investment balance, commissions and stamp duty on the loss of investment balance. (Zhang Xiangbing's lawyer's column)

Currently, Lawyer Zhang Xiangbing is representing ST Zhongtai's damaged investors in claims litigation. The competent court is the Intermediate People's Court of Urumqi City. The claim conditions are:

Impaired investors who bought ST Zhongtai shares between April 1, 2021 and March 19, 2024 and still held the shares at the close of trading on March 19, 2024 can sue for losses. (China-Thailand Chemical Rights Protection Entrance)

For investors who meet the conditions for claim, please contact the lawyer team of Zhang Xiangbing of Jiangsu Boaixing Law Firm as soon as possible; and provide the following documents: a copy of the ID card, a securities account inquiry confirmation form stamped with the seal of the securities company's business department, and the original stock transaction statement (the stock was purchased for the first time since the first time), detailed contact information.

Lawyer Zhang Xiangbing stated:

The final claim conditions shall be subject to the court's determination.

(This article was contributed by Lawyer Zhang Xiangbing of Jiangsu Boaixing Law Firm and does not represent Sina Finance's position. Lawyer Zhang Xiangbing, a securities rights lawyer. Graduated from Southwest University of Political Science and Law with a master's degree in law. He is good at representing securities litigation and financial rights protection cases, and has many years of experience in investor rights protection litigation. Successfully represented or is representing hundreds of investor rights protection cases, representingfishtablegamesecrets2022A number of cases with major social impact and landmark significance have been filed. The investor v. Solin Shares (Rights Protection) and Dong Jiangao cases were selected as one of the top ten typical cases of securities misrepresentation liability disputes by Shenzhen Intermediate People's Court; the Bank of China's "Crude Oil Treasure" civil case was selected as one of the top ten commercial cases in national courts in 2020)