Huajin Chemical announced that its Vice President Yan Zenghui has recently been placed under investigation and subjected to detention by supervisory authorities. The website of the Central Commission for Discipline Inspection and the National Commission of Supervision released news on the same day that Yan Zenghui is suspected of serious disciplinary and legal violations, and is currently undergoing disciplinary review and supervisory investigation by the discipline inspection and supervision team of the Central Commission for Discipline Inspection and the National Commission of Supervision stationed at China North Industries Group Corporation. Huajin Chemical stated that it has properly arranged the work previously handled by Yan Zenghui, the company's production and operations are normal, and it has not yet been informed of the progress or conclusions of the investigation. Public information shows that Yan Zenghui was born in May 1973, holds an MBA, is a senior engineer, and currently serves as Vice President of Huajin Chemical. Huajin Chemical is a listed company under China North Industries Group Corporation, primarily engaged in petrochemicals and chemical fertilizers. In the first half of this year, it expects a net profit attributable to the parent company of 350 million to 400 million yuan, a year-on-year increase of 135.38% to 140.44%.
North Huajin Chemical Industries Co LtdVice President Yan Zenghui is under investigation for suspected serious disciplinary and legal violations, which is a regulatory/legal risk for the company.