On May 6, 2026, another batch of investor claims against Hainan Poly Pharm.Co.,Ltd. (300630), related to false disclosure violations, was submitted to the Haikou Intermediate People's Court for filing by lawyer Xu Feng from Shanghai Jiucheng Law Firm.

Previously, a first-instance judgment ruled in favor of investors represented by lawyer Xu Feng in claims against Hainan Poly Pharm. The initial trial concluded with a victory for the investors, and the appeal hearing has now ended, with a judgment pending from the Hainan court. The legal team continues to advance the filing of subsequent cases and is still accepting new mandates from other eligible investors.

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

According to lawyer Xu Feng, Director of Shanghai Jiucheng Law Firm, which specializes in securities litigation, investors who purchased Hainan Poly Pharm shares between April 26, 2022, and April 17, 2024, and sold or continued to hold these shares after April 17, 2024, may still be eligible to file claims based on the earlier favorable court ruling.