Investors who suffered losses may register their claims against the company on the Sina Investor Rights Protection Platform: http://wq.finance.sina.com.cn/ Follow @Sina Securities, follow Sina Brokerage Fund on WeChat, search for Sina Investor Rights Protection on Baidu, or visit the Sina Finance client and Sina Finance homepage to find us.
The legal team led by Lawyer Liu Peng from Shanghai Huzi Law Firm recently submitted compensation claims on behalf of 14 investors to the court for case filing, and those who meet the requirements can still join. (Lawyer Liu Peng Column) It is worth noting that the company has already been delisted, but delisting does not affect compensation matters.
Going back to the evening of September 21, 2026, a termination of listing decision brought Yuandao Communication's A-share journey to an end. This company, which once carried the halo of "the first stock in communication technology services" and listed on the ChiNext board in July 2022, was decided by the Shenzhen Stock Exchange to terminate its listing under the major illegal mandatory delisting circumstance due to fabricating workload confirmation sheets and inflating operating revenue for three consecutive years during its IPO application period.
According to the announcement, *ST Yuandao shares will resume trading on September 30, 2026, and enter the delisting consolidation period for fifteen trading days, with the expected final trading day being October 27. The compensation conditions are clear: investors who bought during the period from July 8, 2022 to July 11, 2025 (inclusive), and sold after July 12, 2025, or still hold shares at a loss. (*ST Yuandao Rights Protection Entry)
According to the investigation by the CSRC, Yuandao Communication had two illegal facts during its IPO application and after listing: First, the securities issuance documents contained major false content. During the IPO reporting period from 2019 to 2021, the company inflated operating revenue by 65.9026 million yuan, 161 million yuan, and 264 million yuan respectively through means such as fabricating workload confirmation sheets, accounting for 8.75%, 13.12%, and 16.23% of the disclosed revenue in each year. The company's prospectus application drafts, meeting drafts, and registration drafts disclosed multiple times between October 2020 and July 2022 all contained false records. On July 8, 2022, the company listed on the ChiNext board with 1.169 billion yuan in raised funds. Second, the 2022 annual report contained false records. In the year of listing, the company continued to inflate operating revenue by 166 million yuan using the same method, accounting for 7.87% of the revenue disclosed in the annual report.
The above violations touched upon major illegality, and the company and relevant responsible persons were all severely punished. For investors who suffered losses during the exposure of the fraud, delisting does not mean the end of compensation rights. According to the Securities Law and the judicial interpretation on securities misrepresentation infringement, investors who suffered losses due to misrepresentation acts have the right to claim civil compensation from the relevant responsible entities. Claiming compensation in accordance with the law is a feasible path to recover part of the losses, but attention must be paid to the limitation of litigation time, and materials should be prepared as early as possible for compensation registration.