On 12 july, according to the red star capital bureau, the listed company genesis (300083. Sz) was followed by a farce of “digger theft for 382 million”。
Previously, genesis was awarded 382 million yuan for excavating against its core employees and stealing technical secrets, but it entered the court enforcement phase for failing to comply on time. According to the latest bulletin, compensation has not yet been fully implemented, and tsima has also been subjected to custodial penalties for breach。
From the company's official network
The account was frozen for two months
Genesis alert
In recent days, it has been announced in genesis that the company and the chairman of the board of directors, ha jun, and the secretary of the board of directors, wongjun, have been subjected to administrative control measures by the guangdong regulatory authority of the csrc to issue alert letters for failure to disclose significant proceedings in a timely manner. On the same day, a regulatory letter was also issued to the company by the in-site institute。
Photo from a public company announcement
In december 2025, the shenzhen city genesis machinery ltd. (hereinafter shenzhen genesis) was found guilty of patent infringement and awarded compensation by the supreme people's court for the economic loss of beijing exemplary technology group ltd. (hereinafter referred to as the beijing exemplary) of $379 million and reasonable expenses of $2 million totalling $382 million。
Following the entry into force of the second verdict, the shenzhen genesis failed to meet its obligation to pay compensation as scheduled, and in january 2026 the beijing sculptor applied to the beijing city intermediate people's court for enforcement and the freezing of shenzhen genesis bank accounts. As of 16 march, the cumulative amount frozen in shenzhen during the founding century was $7,51. 16 million; bank funds were being withheld as of 17 march and, as of 27 march, $76. 79 million。
However, the above-mentioned bank accounts were not disclosed in time for genesis, and the execution of the major proceedings was not disclosed in the 2025 annual report, but only through an interim bulletin on 14 may 2026。
The guangdong censorship board found that the above-mentioned actions were in violation of the relevant provisions of the measures for the management of information disclosure of listed companies and that, as chairman and managing director of the company, the summer army, as secretary of the board of directors of the company, had failed in its duty of due diligence and was primarily responsible for the violations。
In its bulletin, genesis stated that shenzhen genesis had filed an application for re-trial with the supreme people's court and received a notice of acceptance, which did not represent a re-trial proceeding, a subsequent decision on the re-trial and a final outcome with significant uncertainty. The company stated that it would actively refine and submit a written overhaul report within a specified time frame。
70,000 copies of pre-employment documents
Three hundred and eighty-two million in final judgment for violations
The bureau of red star capital noted that the letter was the source of the violation and could be traced back to a case of price compensation arising from “digging”。
In 2017, genesis, then also known as the “foundable winning and precision”, just completed his acquisition of shenzhen's genesis, and is in the process of setting up a high-end digital machine-bed operation. At the end of march of the same year, one of the former beijing precise products managers left his home and joined shenzhen genesis only four days later as deputy general manager of the glass machine project, even using an alias。
This “jumping slot” raises the risk of abuse. The court found that, one month prior to separation from service, a certain member of the field had begun to steal, using a gap in the company's data management system, downloading documents 162 times from servers, copying more than 70,000 documents on a web-sharing basis and illegally stealing more than 37,000 desktop design drawings and technical files. It is worth mentioning that tanichi has served in beijing for about 14 years and has signed a confidentiality agreement。
In the second half of 2019, the beijing sculptor brought some of shenzhen shenzhen shenzhen shigeki and yada to court for an initial claim of $92 million. The court action lasted until february 2022, when the beijing sculptor significantly increased the amount claimed to approximately 382 million yuan. In may 2023, the beijing intellectual property court handed down a first-instance judgement ordering the two defendants to pay compensation of $12. 8 million. Both parties appealed。
In december 2025, the supreme people's act handed down its final judgement, accepting almost the full amount of the beijing sculptor's claim, bringing the total amount of economic loss and reasonable expenses to $382 million, approximately 30 times the amount of the first instance judgement。
According to the supreme people's court, the research and development costs of the beijing sculptor were as high as $363 million on a “glass grinding machine bed” project. The fact that the founding century in shenzhen, tanya and shenzhen, is equivalent to a cost of almost zero, has taken 15 years of beijing precision, invested hundreds of millions of dollars in research and development costs, included a great deal of technical secrets, and was a major intangible asset, the “glass grinding machine technology” that is relevant to the core competitiveness of beijing。
At the end of the last year, genesis disclosed that the compensation was expected to lower the net profits of the company by about $279 million in 2025。
Public information shows that genesis's main operation is the development, production and sale of digitally controlled machine beds. On the performance side, the net profits of the genesis continued to be under pressure and performance continued to decline in the first quarter of the year. According to a quarterly newspaper, the company achieved operating income of rmb 1,176 million, an increase of 12. 19 per cent over the same period, while net profits to mothers amounted to rmb 72,1527,000, a decrease of 26. 57 per cent over the same period。
As at 10 july, the company's stock price had dropped by 1. 48 per cent, reporting a value of $13. 31 per share, with a total market value of $22. 16 billion。
(this paper does not constitute any investment proposal and operates on its own basis)
Reporter
Editor, tao xianyang, xiao qi
The original red star capital bureau
