Red Sun's Latest Claim News:
On May 11, 2024, Nanjing Red Sun Co., Ltd. issued the "Announcement on Receiving the Decision of the Jiangsu Securities Regulatory Bureau to Order Corrective Measures", which shows:
1. According to Section 4 of Chapter 9 of the Rules for the Listing of Stocks on the Shenzhen Stock Exchange (Revised in 2024), if the company fails to clear the occupied funds of 2,884,052,856.14 yuan within six months in accordance with the requirements of the correction, the Shenzhen Stock Exchange will suspend the trading of the company's shares, and if the rectification is not completed within two months after the suspension, the Shenzhen Stock Exchange will implement a delisting risk warning for the company's stock trading, and if the rectification is not completed within two months, the Shenzhen Stock Exchange will decide to terminate the listing and trading of the company's shares. Investors are reminded to pay full attention to the company's delisting risk.
2. In order to complete the rectification, the company must clear all the funds occupied by the controlling shareholder or the controlling shareholder's affiliates.
3. At present, the company's pre-reorganization work is progressing in an orderly manner, and the company and the pre-reorganization manager continue to maintain communication with investors and creditors on the basis of the completion of the pre-reorganization stage, and accelerate the review of the relevant layers of the reorganization application. The pre-reorganization is a procedure before the court formally accepts the reorganization, and there is still uncertainty as to whether the company will enter the reorganization procedure. As of the disclosure date of this announcement, the company has not received the ruling document of the Nanjing Intermediate People's Court on accepting the reorganization application. If the Nanjing Intermediate People's Court rules that the company enters the reorganization procedure, according to the relevant provisions of the Shenzhen Stock Exchange Stock Listing Rules (2024 Revision), the company's stock trading will be subject to a delisting risk warning, and the company will actively cooperate with the court and the reorganization administrator to carry out relevant work, and fulfill the debtor's statutory obligations in accordance with the law; If the company is declared bankrupt due to the failure of the reorganization, the company's shares will face the risk of being terminated from listing.
Prior to this, on September 6, 2023, 000525 Red Sun issued an announcement on receiving the "Administrative Penalty Decision" and "Market Ban Decision" from the China Securities Regulatory Commission, stating that recently, the company and related parties received the "Administrative Penalty Decision" ([2023] No. 61) and "Market Ban Decision" ([2023] No. 24) made by the China Securities Regulatory Commission. According to the CSRC, Red Sun has the following illegal facts: 1. Red Sun failed to disclose the related party transactions of the controlling shareholder and its related parties for non-operational 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 matters related to the freezing of the controlling shareholder's shares in a timely manner.
According to the Securities Law and the Several Provisions of the Supreme People's Court on the Trial of Civil Compensation Cases Arising from False Statements in the Securities Market, listed companies shall be liable for civil compensation if their rights and interests are damaged due to illegal information disclosure and misrepresentation, and the injured investors have the right to claim compensation for losses.
The Red Sun claim is referred to in the following conditions
Those who bought 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 lawyer team, and are not used as any securities investment decisions and trading suggestions, and are subject to the final determination of the court.
Red Sun's violation is based on:
On July 6, 2020, Red Sun received the "Investigation Notice" (No. 2020084) from the China Securities Regulatory Commission (No. ) for suspected violations of information disclosure laws and regulations.
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.