Qujiang Cultural Tourism has been ordered by the Shaanxi Securities Regulatory Bureau to rectify violations including failure to review and disclose related-party transactions, failure to promptly disclose major litigation, and deficiencies in internal controls. Six responsible persons, including then-chairman Geng Lin, have been issued warning letters. Investigations found that related-party transactions such as equity transfers to related parties were not reviewed or not promptly reviewed and disclosed. The company also had internal control deficiencies in contract management, fund control, related-party transaction management, internal supervision, financial management and accounting, internal environment, and information communication. Then-chairmen Geng Lin, Xie Xiaoning, and Zhuang Ying, then-general managers Xie Xiaoning and Dong Shihong, then-finance chiefs Xie Xiaoning and Shen Shuyu, and then-acting board secretaries Zhuang Ying and Zhao Qian bear primary responsibility for the above violations. Qujiang Cultural Tourism's 2025 annual report shows operating revenue of 967 million yuan, down 22.83 percent year-on-year, and a net loss attributable to the parent company of 196 million yuan, with the loss widening from the previous year.
XiAn Qujiang Cultural Tourism Co LtdShaanxi Securities Regulatory Bureau ordered rectification for undisclosed related-party transactions and internal control deficiencies, with warning letters to executives.