ST Baoxin announced that Board Secretary Tian Qing and Chief Financial Officer Liu Yanchen have both resigned. Tian Qing was only appointed in early April this year, serving just over three months. His appointment came during the critical period of the 2025 annual report disclosure. Subsequently, the company was placed under delisting risk warning due to performance losses, revenue below 300 million yuan, and negative net assets. CFO Liu Yanchen took office in August 2025. In June this year, he was publicly reprimanded by the Shenzhen Stock Exchange for a significant revision of the company's 2025 performance forecast. The exchange also determined that the company's chairman and general manager, Ma Lin, failed to perform duties diligently and imposed sanctions. In addition, the company and its actual controller, Ma Wei, have been under investigation by the China Securities Regulatory Commission since January 30, 2026, for suspected violations of information disclosure laws. The investigation has not yet been concluded. The company's share price has fallen by more than 70% this year.
Jiangsu Boamax Technologies Group Co LtdCompany and actual controller under CSRC investigation for information disclosure violations; board secretary and CFO resign amid regulatory scrutiny.