The legal team of lawyer Liu Peng has recently received the notice of case acceptance for the compensation claim against Derun Electronic, marking the formal commencement of legal proceedings.
The lawsuit stems from a regulatory penalty. On March 27, ST Derun (Rights Protection) announced that the Shenzhen Securities Regulatory Bureau had issued an "Administrative Penalty Decision." Investors who purchased shares between August 27, 2020, and December 30, 2023, and sold them after December 31, 2023, or continue to hold them at a loss, are eligible to register for compensation claims.
From 2020 to 2022, due to major clients' operational difficulties preventing repayment, the company's actual controller provided financial support to clients and suppliers using personal funds and external loans. These entities then returned the funds to the company under the guise of "repaying historical debts." This operation cumulatively fabricated repayments exceeding 534 million yuan, leading to the underreporting of credit impairment losses in the company's financial reports for multiple periods.
These actions resulted in false records in Derun Electronic's 2020 annual report, 2021 annual report, and 2022 semi-annual report. The Shenzhen Securities Regulatory Bureau imposed a fine of 7 million yuan on ST Derun and a fine of 12 million yuan on the actual controller, along with a five-year ban from the securities market.
On April 29, 2024, Derun Electronic released an "Announcement on Correction of Prior Accounting Errors and Retrospective Adjustments," stating that treating the repayments of receivables ultimately sourced from the actual controller as shareholder donations would more objectively and fairly reflect the transaction purpose and commercial substance. The company corrected prior accounting errors and made retrospective adjustments, increasing credit impairment losses by 371 million yuan for 2020 and adjusting capital reserves by 321 million yuan; for 2021, credit impairment losses were increased by 66.3931 million yuan, and capital reserves were adjusted by 434 million yuan.