Shengda Forestry loses appeal in securities misrepresentation case

Sichuan Shengda Forestry Industry has lost its appeal against a previous judgment related to a securities misrepresentation liability dispute. The Sichuan Higher People's Court rejected the appeal, maintaining the original ruling from Chengdu Intermediate People's Court. The initial judgment required Shengda Forestry to compensate 195 plaintiffs, including Chen Tiezhu, for losses amounting to CNY 2,175,080.00, plus associated litigation costs. While the ruling marks a setback, the company states it has already provisioned for this outcome based on the initial judgment, and therefore expects no impact on current period profits. Remaining securities misrepresentation lawsuits are still under review.