Anne Shares Securities False Statement Case Reaches a Turning Point: First Instance Judgment Annulled and Case Remanded for Retrial

What impact does AI review and resubmission have on Annie Co., Ltd.'s finances?

On the evening of March 19, 2026, Annie Co., Ltd. (002235.SZ) announced that there was a new development in the securities false statement liability dispute case involving the company. According to the announcement, the company received a “Civil Ruling” issued by the Fujian Provincial Higher People’s Court on the same day. The appellate court decided to revoke the civil judgment (2023) Min 02 Minchu 505 issued by the Xiamen Intermediate People’s Court in Fujian Province and remand the case back to the Xiamen Intermediate People’s Court for retrial. The appellate court also ordered the refund of the second-instance case acceptance fee paid by the appellant.

The announcement shows that on October 31, 2023, Annie Co., Ltd. disclosed a case involving Guo Aowei, Jia Mei, and others regarding securities false statement liability disputes. The case involves 995 shareholders, including Feng Zhanpeng, who filed a lawsuit with the Xiamen Intermediate People’s Court in Fujian Province, claiming damages of 318 million yuan due to securities false statements by the company. Zhang Jie and Xu Zhiqiang are jointly liable for compensation.

On June 7, 2024, the company received a “Civil Judgment” issued by the Xiamen Intermediate People’s Court in Fujian Province. The first-instance judgment ordered Annie Co., Ltd. to pay 159 million yuan in damages to the 995 plaintiffs, including Feng Zhanpeng, within thirty days of the judgment becoming effective. The company was also ordered to pay 995,000 yuan for announcement, notification, and legal fees. Other claims by the plaintiffs were dismissed.

Regarding this second-instance ruling, Annie Co., Ltd. stated in the announcement: “The company has previously made provisions for estimated liabilities in accordance with relevant accounting standards for this case. Given that the case has been revoked and remanded for retrial, the impact on the company remains uncertain. The company will continue to monitor the case progress and fulfill its information disclosure obligations in a timely manner.”