Collective Redress and Class Actions_2025

CHINA Trends and Developments

Trends and Developments Contributed by: Siyuan Liu, Wei Wang and Huanhuan Yu Jingtian & Gongcheng

Jingtian & Gongcheng maintains offices in Beijing, Shanghai, Shenzhen, Chengdu, Nanjing, Hangzhou, Guangzhou, Sanya and Hong Kong. The firm holds a premier reputation for securities litigation and com- pliance, with extensive expertise in misrepresentation cases, regulatory investigations, and administrative penalty proceedings. The team has acted in many high-profile and precedential cases, including the Evergrande, the Kangdexin, the LeTV, and the CITIC Securities cases, the Luckin Coffee case, the Sheng- tong Group case, the Brilliance Auto bond case, the

Dalian Machine Tool bond case, etc. With impressive insight borne from decades of experience, Jingtian & Gongcheng secures industry-leading victories for clients including listed companies, securities com- panies, accounting firms and other intermediaries. Jingtian & Gongcheng’s integrated “one-firm” culture – spanning practices and regions – ensures clients receive the full benefit of the firm’s collective exper- tise, as the team delivers innovative and strategic so- lutions to the most complex and consequential dis- putes in the Chinese capital markets. in numerous landmark cases, including the Brilliance Auto bond case, the Dalian Machine Tool bond case, the Shengtong Group bond case and the Kangdexin Composite Material bond case. Several of his cases have been recognised by the Supreme People’s Court as guiding precedents, with his advocacy influencing the formulation of judicial principles that have since been incorporated into SPC documents.

Authors

Siyuan Liu is a partner in Jingtian & Gongcheng, specialising in securities compliance and litigation. Her significant representations in China include the Evergrande case (largest financial fraud), the CITIC Securities-

CITADEL case (first administrative penalty in financing and securities lending), the Kangdexin case (top of CSRC 20 typical cases), the Luckin Coffee case (first ADR holder misrepresentation case), the LeTV case (highest disputed amount in this kind of case). She serves as a council member of the Securities Law Research Association, the Case Law Research Association of the China Law Society, and the Beijing Economic Law Society. She is ranked for Securities Litigation in the Chambers Greater China Region Guide 2025.

Huanhuan Yu is counsel in Jingtian & Gongcheng, specialising in securities compliance, securities litigation and regulatory investigations. Using her extensive experience and independent perspective, she

consistently manages to secure favourable results for listed companies, leading securities firms, Big Four accounting firms and other intermediaries. Her significant misrepresentation and administrative investigation cases include: the Founder Securities case, the Baofeng Group case, the LeTV case, the Aerospace Communications case, the Bobaolon case, the Lan Hai Medical case, the Guangdong Guangzhou Daily Media case, and the Fuguiniao case, as well as other high-stakes disputes.

Wei Wang is a partner in Jingtian & Gongcheng, specialising in complex and cutting-edge securities

compliance and misrepresentation disputes, commercial disputes, and asset management and financial derivatives disputes. He has represented listed companies, securities firms and other intermediaries

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