According to the China Judgment Documents Network, the Dalian Intermediate People's Court has made judgments on dozens of related lawsuits, and the plaintiffs have been paid between tens of thousands and hundreds of thousands of yuan. According to the administrative penalty decision received by the CSRC, from June 15, 2016 to July 31, 2017, Tenjin Entertainment failed to fully and timely disclose the important matters of five M&A funds in accordance with regulations; on July 6, 2018, Tenjin Entertainment failed to disclose and sign the relevant share pledge contract in a timely manner as required; and in September 2018, Tenjin Entertainment failed to disclose the major event that the main business of the holding subsidiary came to a standstill in accordance with regulations.
The stock network reminded that some investors represented by the securities lawyer team cooperating with the stock network v. Tianshen Entertainment were tried in the Dalian Intermediate Court in September and October, respectively, and a judgment has been recently received, and the investors have won the lawsuit and Tianshen Entertainment needs to pay the investors for the loss of the investment difference within ten days. Investors who meet certain conditions can still register on the Mini Program "Share Network" or sue on their own. Based on effective judgments and laws and regulations, investors who bought before June 15, 2016 to August 01, 2019 (inclusive, regardless of whether it is a trading day), and sold or still held after August 01, 2019 (regardless of whether it is a trading day) and lost money may consider the claim.
According to the judgment, the Dalian Intermediate Court found that there was a false statement of Tianshen Entertainment, and the investor also had the fact that the investment was damaged, and there was a certain causal relationship between the two, but the losses suffered by the investors in the purchase and sale of the stock could not be completely attributed to the misrepresentation behavior of the listed company, and were also affected by macro factors such as the tightening of the state's supervision of the film and television industry, the decline in the revenue of Tianshen Entertainment and the decline in credit rating. After a unified algorithm, the court ultimately determined, at its discretion, that the defendant Tenjin Entertainment should pay 30% of the principal amount of the loss to the plaintiff investors for the misrepresentation.
In terms of performance, Tianshen Entertainment disclosed the third quarter report of 2021 on October 29: during the reporting period, the operating income was 543 million yuan, an increase of 98.85% year-on-year; the net profit attributable to the shareholders of the listed company was -15.9573 million yuan, an increase of 9.17% year-on-year; and the net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses was -14.0916 million yuan, down 162.69% year-on-year.
According to Tianyan, the main business of Dalian Tianshen Entertainment Co., Ltd. is the research and development and distribution of two types of online games, web games and mobile online games. The company's main products are e-sports games, digital effects traffic, and branded content traffic. Since its inception, in terms of independent research and development, Tianshen Interactive has produced many popular products such as "Proud Sword", "Soaring", "Sky Change", "Dream Q Immortal", "Proud Sword 2", "Destroying God for All" and "Sky Change Mobile Game".
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