On July 27, 2026, Shanghai Jiucheng Law Firm's stock索赔 lawyer Xu Feng filed another batch of investor compensation lawsuits for Hainan Poly Pharm.Co.,Ltd. (300630) regarding false statement claims, submitting the case to Haikou Intermediate People's Court.

In earlier proceedings, investor lawsuits for Poly Pharmaceutical handled by Xu Feng received first-instance judgments from Haikou Intermediate People's Court, with investors achieving initial victories. The legal team is concurrently advancing the filing of subsequent cases and continues to accept compensation entrustments from other affected investors.

On March 21, 2025, Poly Pharmaceutical announced that it had received an "Administrative Penalty Decision" from the China Securities Regulatory Commission (CSRC) on January 4, 2025. The investigation revealed that in 2021, Poly Pharmaceutical overstated revenue by 514,604,184.72 yuan, accounting for 34.11% of the reported revenue for that year, with corresponding overstatement of cost of sales by 206,585,749.23 yuan, resulting in an inflated profit total of 308,018,435.49 yuan, representing 65.88% of the reported profit. In 2022, revenue was overstated by 515,899,077.56 yuan, accounting for 28.56% of the reported revenue, with cost of sales overstated by 128,481,820.04 yuan, leading to an inflated profit total of 387,417,257.52 yuan, representing 88.27% of the reported profit. The annual reports for 2021 and 2022 published by Poly Pharmaceutical contained false records.

Xu Feng believes that, based on prior legal documents, investors who purchased Poly Pharmaceutical stock between April 26, 2022, and April 17, 2024, and either sold after April 17, 2024, or continue to hold the stock, are eligible to file compensation claims.

In addition to the renewed filing for Poly Pharmaceutical, on July 27, Xu Feng also submitted another batch of investor compensation cases for Changjiangrunfa Health Industry Co.,Ltd. (002435) to Suzhou Intermediate People's Court. The cases for Changjiang Health handled by Xu Feng have been filed multiple times with the court, and are currently awaiting further action from the judiciary. The legal team continues to accept compensation entrustments from other investors.

On March 20, 2026, Changjiang Health issued an announcement regarding receipt of an "Administrative Penalty Decision" from the CSRC's Jiangsu Regulatory Bureau. The investigation identified the following illegal activities: First, the company failed to timely disclose non-operational fund occupation by related parties, leading to significant omissions in its periodic reports. Second, the company failed to timely disclose major guarantee arrangements.

Xu Feng, director of Shanghai Jiucheng Law Firm specializing in stock-related legal matters, asserts that investors who purchased Changjiang Health stock between January 5, 2021, and April 30, 2024, and either sold after April 30, 2024, or continue to hold the stock, are eligible to file compensation claims.