Raisecom announced on the evening of September 1 that company directors Li Yuejie and Zhu Chuncheng were each sentenced by the Beijing Third Intermediate People's Court to one year and six months in prison for the crime of illegally disclosing important information, along with a fine of 1 million yuan. This matter is the same as the administrative penalty imposed on the company by the China Securities Regulatory Commission in September 2023. Li Yuejie is one of the company's actual controllers and had previously stepped down as chairman, while Zhu Chuncheng is one of the company's founders and currently serves as a director. The company stated that the ruling does not affect the exercise of shareholder rights, nor will it have a material adverse impact on production and operations, which are currently normal.
Raisecom Technology Co LtdDirectors sentenced for illegal information disclosure, a regulatory/legal issue for the company.
