On October 11, 2025, lawyer Xu Feng from Shanghai Jiucheng Law Firm submitted an investor compensation lawsuit for Wintao Communications Co.,Ltd. (301139) to the Urumqi Intermediate People's Court, currently awaiting the court's next arrangements. The legal team is simultaneously advancing the filing of subsequent cases and continues to accept compensation mandates from other investors.
On the evening of July 11, 2025, Wintao Communications announced receipt of a "Case Filing Notice" from the China Securities Regulatory Commission (CSRC). Due to the company's suspected false statements in financial data in annual reports and other information disclosure documents, the CSRC decided to initiate an investigation based on the Securities Law, Administrative Penalty Law, and other relevant regulations.
Lawyer Xu Feng believes that investors who purchased Wintao Communications shares before July 12, 2025, and sold or continued to hold shares after July 12, 2025, are eligible to file compensation claims.
In addition to the Wintao Communications investor compensation case filed with the court, some Hainan Poly Pharm.Co.,Ltd. (300630) investor compensation cases represented by lawyer Xu Feng have already been heard at the Haikou Intermediate People's Court and received calculation reports from the court. They are currently awaiting the court's judgment while continuing to accept compensation mandates from other investors. Some cases have already undergone court hearings.
On March 21, 2025, Hainan Poly Pharm announced that the company received an "Administrative Penalty Decision" from the CSRC on January 4, 2025. Investigation revealed that Hainan Poly Pharm overstated operating revenue by 514,604,184.72 yuan in 2021, accounting for 34.11% of disclosed operating revenue for that year, with corresponding operating costs of 206,585,749.23 yuan, resulting in overstated total profits of 308,018,435.49 yuan, representing 65.88% of disclosed total profits for that year. In 2022, the company overstated operating revenue by 515,899,077.56 yuan, accounting for 28.56% of disclosed operating revenue for that year, with corresponding operating costs of 128,481,820.04 yuan, resulting in overstated total profits of 387,417,257.52 yuan, representing 88.27% of disclosed total profits for that year. The 2021 and 2022 annual reports disclosed by Hainan Poly Pharm contained false statements.
Xu Feng, director of Shanghai Jiucheng Law Firm, believes that based on the above violations and securities law regulations, investors who purchased Hainan Poly Pharm shares between April 26, 2022, and April 17, 2024, and sold or continued to hold shares after April 17, 2024, can still file compensation claims.
(Lawyer Xu Feng has been practicing since 2008, with services covering compensation representation in securities fraud areas including false statements, insider trading, and market manipulation. Over more than a decade, he has represented nearly 200 stocks in successful litigation or settlement compensation for investors, while simultaneously handling compensation cases for nearly 300 stocks within the statute of limitations, some of which have also achieved successful litigation and settlement compensation precedents. Practice License Number: 13101200810965495)