crashbandicootps4| Shengtun Mining has been filed by the China Securities Regulatory Commission for suspected breach of trust and fraud. Shareholders who have suffered losses due to the continued decline in share prices can claim compensation.

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Shengtun Mining (Rights Protection) announced on the evening of Friday, May 17, 2024 that it had received a "case notice" from the China Securities Regulatory Commission, which decided to file a case against the company on suspicion of illegal information disclosure. Prior to this, Shengtun Mining received an administrative supervision measure issued by Xiamen Securities Supervision Bureau on April 19 to correct and issue a warning letter. In this regard, the company has responded positively and carried out rectification, corrected the relevant errors on April 23, 2024, and issued a relevant announcement.

Shengtun Mining stressed that the current production and operation situation is normal, this case investigation will not affect the company's normal business activities. In spite of this, the share price of Shengtun Mining fell by the limit. On Monday, May 20, Shengtun Mining fell by 10%.Crashbandicootps4.04%, the share price closed at 4.66 yuan per share, and has been falling for several days since then.

Shengtun Mining Stock Code 600771, listed in 1996, headquartered in Xiamen. The company is committed to the development and utilization of non-ferrous metal resources, especially new energy batteries and other non-ferrous metal resources, focusing on drilling, nickel, copper, zinc metal varieties, the main business types are metal refining and deep processing business, non-ferrous metal mining and selection business, non-ferrous metal trade and so on.

Shortly before the investigation, on April 23, Shengtun Mining released its 2023 annual report. The company's operating income in 2023 was 24.456 billion yuan, down 5.33% from the same period last year, and its net profit was 265 million yuan, turning losses into profits over the same period last year.

On April 22, due to the inaccurate disclosure of financial data for two consecutive years, Shengtun Mining Industry was ordered to correct and issued a warning letter by the Xiamen Securities Regulatory Bureau. The specific violations are: during the period from 2021 to 2022, Shengtun Mining Industry carried out cobalt wet smelting intermediate products sales business with customers, the control of the goods was not substantially transferred when the goods were delivered to the relevant customers, and the revenue was recognized at the time of delivery, and the accounting treatment was not accurate. The above-mentioned individual cobalt wet smelting intermediates sold to customers were bought back by the subsidiary of Shengtun Mining for production and were not consolidated to offset. As a result of the above-mentioned events, the recognized income of Shengtun Mining Industry in 2021 was more than 359 million yuan, accounting for 0.79% of the current operating income, and the more recognized profit was 194 million yuan, accounting for 7.15% of the total profit of the year. 84.149 million yuan was recognized in 2022, accounting for 0.33% of the operating income of the year, and the total underrecognized profit was 139 million yuan, accounting for 18.2% of the total profit for the year.

During the period from 2021 to 2022, Shengtun Mining has recognized a total revenue of about 443 million yuan. In this regard, the Xiamen Securities Supervision Bureau decided to take administrative supervision measures to order the company to correct and issue warning letters, and record the relevant information in the integrity file according to the regulations.

Zang Xiaoli, a lawyer from Beijing Shixuan Law firm, believes that Shengtun Mining has been filed by the China Securities Regulatory Commission this time, and suspected information disclosure irregularities may be related to financial data errors in 2021 and 2022, and may also involve it.Crashbandicootps4His affairs ultimately depend on the conclusion of the investigation by the regulatory authorities. (lawyer Zang Xiaoli column)

For Shengtun mining investors, pending the conclusion of the investigation, investors can sue for claims.

Zang Xiaoli, a lawyer from Beijing Shixuan Law firm, tentatively decided that those who bought Shengtun Mining shares on or before May 17, 2024 and held shares after the close of trading on May 17, 2024 can participate in the claim. (subject to the conclusion of the investigation by the SFC, the scope of the claim may be appropriately adjusted. Finally, the decision of the court shall prevail. ) (Shengtun Mining Rights Protection entrance)

Shengtun Mining's 2023 annual report shows that the total number of common shareholders at the end of the reporting period was 183400, which means that the number of potential eligible investors may be large.

List of basic information on investor participation in claims

1. The original statement of buying and selling Shengtun mining stock (sealed by the business department of the securities company, printed from the first purchase of the stock)

2. Copy of ID card

3. The securities account opening confirmation form issued by the business department of the securities company (if the statement has already printed the ID card number, the account opening confirmation form may not be issued)

4. the contact number, address and e-mail address of the investor are attached.

After receiving the above information, the lawyer first determines whether the investor meets the requirements and calculates whether there is a loss. If the claim conditions are met, the lawyer will provide formal litigation materials to the investors.

(this article is contributed by Zang Xiaoli, a lawyer from Beijing Shixuan Law firm, and does not represent the views of Sina Finance. Lawyer Zang Xiaoli, Doctor of Law, famous securities rights lawyer in capital market, director and founder of Beijing Shixuan Law firm. Over the past 10 years of practice, she has successively filed securities civil claims against more than 100 illegal listed companies on behalf of investors, and successfully helped thousands of investors recover their economic losses. )