ST Jinhongshun announced that its actual controller, Liu Xu, has been placed under investigation by the Jiangsu Bureau of the China Securities Regulatory Commission for suspected illegal information disclosure. After multiple failed attempts to contact him, the bureau served the Case Filing Notice via public announcement, requiring Liu Xu to cooperate with the investigation within 30 days, with the notice deemed served upon expiry. The company had previously received a case filing notice from the CSRC on June 26, 2026, for suspected illegal information disclosure. Since mid-December 2025, the company has been unable to reach Liu Xu, who has not performed duties on-site since the end of September 2025. Liu Xu also has issues with non-operational fund appropriation, with an outstanding balance of 106 million yuan as of June 18, 2026, which has not been repaid. Additionally, Liu Xu has been placed on the list of dishonest persons subject to enforcement, a fact the company and its board had not been previously notified of.
Suzhou Jin Hong Shun Auto Parts Co Ltd Class AActual controller investigated by CSRC for information disclosure violations, with fund misappropriation and enforcement list issues.