On October 15, 2025, an investor compensation case against Lingnan Eco & Culture-Tourism Co., Ltd. (002717), represented by lawyer Xu Feng from Shanghai Jiucheng Law Firm, has been formally filed with the court, and they are currently awaiting further arrangements from the court. The legal team is also moving forward with filing additional cases and is accepting more compensation claims from other investors.
On September 6, 2025, Lingnan Eco & Culture-Tourism Co., Ltd. announced that the company and its former controlling shareholder, current co-chairman, president, and legal representative, Mr. Yin Hongwei, received a "Notice of Filing" from the China Securities Regulatory Commission (CSRC) (No. 0062025016, No. 0062025017). This is due to suspected violations of information disclosure regulations. The CSRC has decided to initiate proceedings against the company and Mr. Yin based on the Securities Law, the Administrative Penalty Law, and other laws and regulations.
Lawyer Xu Feng believes that investors who purchased Lingnan shares between January 3, 2024, and April 29, 2025, and sold or continued to hold shares after April 29, 2025, may still file for compensation.
In addition to the filed investor compensation case for Lingnan Eco & Culture-Tourism Co., Ltd., the case for OURGAME (300096) has also been submitted to the Xiamen Intermediate People's Court and is awaiting further arrangements from the court. The legal team continues to accept compensation claims from additional investors.
On the evening of May 8, 2024, OURGAME announced that it received a “Notice of Filing” from the CSRC due to its failure to disclose the provision of guarantees to related parties as required, leading to regulatory breaches according to the Securities Law and the Administrative Penalty Law.
On November 28, 2023, OURGAME disclosed a notice regarding violations including improper guarantees and unauthorized borrowings, as well as involvement in significant litigation and arbitration matters. Following an internal review, OURGAME identified instances where it did not follow established internal control procedures or approval processes by the board of directors/shareholders to provide guarantees for the actual controlling shareholder, Mr. Zhang Xi, and his associates, along with unauthorized borrowings signed in the company's name. These violations are attributed to Mr. Zhang's personal actions, with the company not having completed necessary approval processes.
Lawyer Xu Feng believes that based on the above illegal activities, investors who bought OURGAME shares between June 14, 2018, and November 29, 2023, and sold or continued to hold shares after November 29, 2023, can also file for compensation.