Regarding the lawsuit against Dongfangtong’s special representative, the China Securities Regulatory Commission responded

China News Service, Beijing, November 11 (Reporter Chen Kangliang) The Beijing Financial Court recently issued an announcement that the special representative litigation procedure will be applied to the case of Dongfangtong Securities’ misrepresentation liability dispute. In response to this, the head of the relevant department of the China Securities Regulatory Commission responded to reporters’ questions on the 11th.

The person in charge said that Dongfangtong's fraudulent issuance, false statements and other securities violations have seriously disrupted the order of the securities market and harmed the legitimate rights and interests of investors. The China Securities Regulatory Commission has imposed administrative penalties in accordance with the law. In the early stage, the Beijing Financial Court accepted the general representative lawsuit for securities misrepresentation filed by investors in accordance with the law and issued a litigation rights registration announcement to support the majority of investors in recovering civil losses in accordance with the law. The China Securities Small and Medium Investor Service Center accepts authorization from more than 50 investors to apply to the Beijing Financial Court in accordance with the law to convert the case trial procedure into a special representative litigation and participate in the litigation as a representative. On November 11, the Beijing Financial Court issued an announcement on the registration of Dongfangtong’s special representative litigation rights, clarifying that the special representative litigation procedure will be applied to the case, reminding investors of the methods and legal consequences of participating in this litigation, as well as the right to declare withdrawal and the period.

The person in charge said that the Beijing Financial Court accepts investors’ lawsuits in accordance with the law and applies special representative litigation procedures, which is a strong protection for investors’ rights and interests and a strong investigation of liability for illegal infringements. The China Securities Regulatory Commission will continue to support the China Securities Small and Medium Investor Service Center in fulfilling its public welfare service function of supporting and representing investors in civil litigation and rights protection in accordance with the law, actively cooperate with judicial authorities in applying representative litigation procedures in accordance with the law, and effectively safeguard the legitimate rights and interests of investors, maintain a good market ecology, and promote the high-quality development of the capital market.