Fresh Legal Filings Submitted for Investor Claims Against Zitian Tech and Poly Pharm

Deep News
07/06

Investors who have suffered losses can register their claims through the relevant platforms.

On July 3, 2026, attorney Xu Feng from Shanghai Jiucheng Law Firm submitted another batch of investor compensation cases for Fujian Zitian Media Technology Co.,Ltd. (ASX: 300280) to the Fuzhou Intermediate People's Court, alleging securities misrepresentation.

Attorney Xu Feng's team has filed multiple batches of claims for Zitian Tech investors and continues to advance subsequent case filings while accepting new mandates from other affected investors.

On August 23, 2025, Zitian Tech announced it had received an "Administrative Penalty Decision" from the Fujian Regulatory Bureau of the China Securities Regulatory Commission. The investigation found the company and related personnel committed the following violations: 1. The 2022 Annual Report contained false records. 2. The 2023 Interim Report contained false records. 3. The 2023 Annual Report contained false records.

Attorney Xu Feng believes that investors who purchased Zitian Tech shares between April 28, 2023, and October 28, 2024, and sold or continued to hold those shares after October 28, 2024, are still eligible to initiate claims.

In addition to the new Zitian Tech filings, on July 3, 2026, attorney Xu Feng also submitted another batch of investor compensation cases for Hainan Poly Pharm.Co.,Ltd. (ASX: 300630) to the Haikou Intermediate People's Court.

Previously, the law firm received a first-instance court judgment in favor of investors in a Poly Pharm claim case. The legal team continues to accept new mandates from other investors.

On March 21, 2025, Poly Pharm announced it had received a "Decision on Administrative Penalty" from the CSRC, dated January 4, 2025. The investigation found that in 2021, Poly Pharm overstated operating revenue by 514,604,184.72 yuan, representing 34.11% of the disclosed revenue for that year, with corresponding overstated cost of sales of 206,585,749.23 yuan, leading to an overstatement of total profit by 308,018,435.49 yuan, or 65.88% of the disclosed total profit. In 2022, the company overstated operating revenue by 515,899,077.56 yuan (28.56% of disclosed revenue), with corresponding overstated cost of sales of 128,481,820.04 yuan, leading to an overstatement of total profit by 387,417,257.52 yuan, or 88.27% of the disclosed total profit. The company's 2021 and 2022 annual reports contained false records.

Attorney Xu Feng, a specialist in securities litigation, suggests that based on prior cases, investors who purchased Poly Pharm shares between April 26, 2022, and April 17, 2024, and sold or continued to hold them after April 17, 2024, may still be eligible to file for compensation.

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