Such As Han Holding Response In The United States By Class Action Disclosure Information Legal Compliance

Recently, it was reported that "the first shareholder of net red business" suffered many lawsuits in the United States, including allegations of false, misleading statements or undisclosed information in the prospectus.

Bernstein Liebhard LLP, a well-known US investor rights and interest law firm, issued a statement in The Associated Press, which will initiate a class action on behalf of investors who buy American Depository Receipts such as Han holdings.

According to the statement, the number of online stores dropped by nearly 40%, such as Han holdings in IPO, and the number of key business leaders (KOL) in the company dropped by nearly 44%, resulting in a 46% decline in net income from the whole business sector. Such as Han holdings's statements of the company's business, operations and prospects are materially false and misleading.

Investors suspect that since the listing, due to the disclosure of major adverse facts in the prospectus issued by Han holdings, the share price has fallen sharply through the issue price, causing damage to shareholders.

For this reason, such as Han holdings relevant person in charge responded: "all the information disclosed by the company is no problem, completely compliance legal, now the company's American lawyer STB law is helping the company deal with this kind of affairs. The daily operation of the company is normal and free from any influence. "

At the same time, such as Han holding relevant responsible person also said: "this is a business model in the United States, many law firms under the banner of the so-called investigation, in fact, distorting the facts, the purpose is to get part of the settlement of gold from the listed companies, as a way to make money. Therefore, there are a large number of small firms specializing in such businesses in the United States.

According to the official website of Han Han holdings, such as Han holdings's business scope includes net red hatching, net red business and net red marketing. As reported by Han holdings, as of the first quarter of 2020 fiscal year ended June 30, 2019, unaudited financial results showed that the net income of the current period reached 312 million 800 thousand yuan, up 34.3% over the same period last year, and the net loss to adjusted net income was 21 million 600 thousand yuan, narrowing 51.6% compared with the same period last year.

As of June 30, 2019, the total number of signed red nets was 133, of which 3 were head net red, 8 were shoulder net red, 122 were waist web red, and the number of brands offering net red advertising services increased to 701. In the same period, GMV was 758 million yuan, an increase of 50.4% over the same period, and gross profit of 111 million 500 thousand yuan, an increase of 93% over the same period last year. As of June 30, 2019, the cash and cash equivalents and short-term investments of such holdings were 733 million 600 thousand yuan.

As of the end of October 10th Eastern time, such as Han holdings closed 5.79 U.S. dollars / share, a decrease of 9.11%, the total market value of $479 million.