On the afternoon of April 10, the Shanghai No.3 Intermediate People's Court held a public hearing of and made the first-instance judgment on the case of REN and other three people for illegal disclosure of important information. This is the first criminal case on illegal disclosure of important information in Shanghai, and also the first financial criminal case to be handled by the Shanghai No.3 Intermediate People's Court in accordance with the Provisions on the Jurisdiction of Cross-District Financial Criminal Cases by the People's Courts issued by the Shanghai High People¡¯s Court (SHPC) on January 31, 2020. Qu Furong, vice president of the Shanghai No.3 Intermediate People's Court, was the chief judge, and he formed a collegial panel with Judge Gao Weiping of the criminal court and the people's assessor Gu Yueqin. In this case, a listed company in Shanghai had seriously violated the relevant provisions of the Administrative Measures for the Disclosure of Information of Listed Companies by inflating revenue and profit in its quarterly statements and providing false financial and accounting reports to its shareholders and the public. After investigation, it was found that the company involved had inflated RMB 72.67 million of revenue, accounting for 50.24% of the total revenue disclosed in the same period; inflated more than RMB 10.63 million of profit, accounting for 81.35% of the total profit disclosed in the same period; and inflated more than RMB 7.97 million of net profit, disclosing loss as profit. REN, the manager in direct charge, was sentenced to one year in prison, with one year suspended, and fined RMB 200,000; LIN, the person in direct charge, was sentenced to six months in prison, with one year suspended, and fined RMB 50,000; SHENG and QIN, the persons in direct charge, were both sentenced to criminal detention for three months, suspended for three months, and fined RMB 50,000, for illegally disclosing important information.